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Hire purchase. A hire purchase (HP), [1] also known as an installment plan, is an arrangement whereby a customer agrees to a contract to acquire an asset by paying an initial installment (e.g., 40% of the total) and repaying the balance of the price of the asset plus interest over a period of time.
An installment loan is a type of agreement or contract involving a loan that is repaid over time with a set number of scheduled payments; [1] normally at least two payments are made towards the loan. The term of loan may be as little as a few months and as long as 30 years. A mortgage loan, for example, is a type of installment loan.
Long-Term Installment Agreement With Any Other Payment Method, Phone, Mail or In-Person Set-Up Fee: $225. Restructure or Reinstate a Payment Plan Set-Up Fee: $89.
A letter of intent (LOI or LoI, or Letter of Intent) is a document outlining the understanding between two or more parties which they intend to formalize in a legally binding agreement. The concept is similar to a heads of agreement , term sheet or memorandum of understanding .
Long-term installment agreement with direct debit — phone, mail or in-person setup fee: $107. Long-term installment agreement with any other payment method — phone, mail or in-person setup fee ...
An installment loan makes sense if you can afford the payment, are financially stable enough to repay it and get some sort of financial benefit from it. Installment loans require a payment ...
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