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2. How To Create a Personal Loan Agreement in 5 Steps - AOL

   www.aol.com/finance/create-personal-loan...

   A personal loan agreement is a legally binding document that outlines the terms and conditions of a loan between two parties: the lender and the borrower. Whether you're lending money to a friend,...

3. Hire purchase - Wikipedia

   en.wikipedia.org/wiki/Hire_purchase

   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.

4. Personal contract purchase - Wikipedia

   en.wikipedia.org/wiki/Personal_contract_purchase

   Personal contract purchase (PCP), often referred to as a personal contract plan, is a form of hire purchase vehicle finance for individual purchasers, similar to both personal contract hire and a traditional hire purchase (buying on installments). Unlike a traditional hire purchase, where the customer repays the total debt in equal monthly ...

5. What is an installment loan & how does it work? Know ... - AOL

   www.aol.com/finance/installment-loan-types...

   An installment loan is a type of closed-end debt. You pay it off over a set number of months or years, also known as your loan term. Unlike credit cards or lines of credit, which are open-ended ...

6. What happens if I default on an installment loan? - AOL

   www.aol.com/finance/happens-default-installment...

   Installment loans show up on your credit report in multiple ways. When you first apply for a loan, the lender will conduct a hard credit check, which will result in a drop in your credit score.

7. Installment sale - Wikipedia

   en.wikipedia.org/wiki/Installment_sale

   v. t. e. In United States income tax law, an installment sale is generally a "disposition of property where at least 1 loan payment is to be received after the close of the taxable year in which the disposition occurs." [1] The term "installment sale" does not include, however, a "dealer disposition" (as defined in the statute) or, generally, a ...