Question

Why would someone resort to Installment buying rather than a loan from a traditional

lending institution?
O Convenience
O Installment buying is no longer an option
Too difficult
Not enough time

Answer 1

Installment buying may be preferred over a loan from a traditional lending institution due to convenience, accessibility, and budget management.

Step-by-step explanation:

There are several reasons why someone might resort to installment buying rather than a loan from a traditional lending institution. One reason is convenience. Installment buying allows individuals to make regular payments over time, whereas a loan typically requires a lump sum payment. Another reason is that installment buying may be more accessible for individuals who do not qualify for a loan due to poor credit or lack of collateral. Lastly, some individuals may prefer installment buying because it allows them to manage their budget and cash flow more effectively.

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