Which of the following is true of a consumer loan?
A)A consumer loan is used chiefly to make repeated purchases of relatively low-cost goods and services.
B)A consumer loan results from a rather informal process and involves no negotiated contracts.
C)A consumer loan provides credit cards and checks to the consumers.
D)A consumer loan provides revolving credit to the consumers.
E)A consumer loan is used to finance the purchase of goods that are far too expensive.

Question

Quizplus · Accepted Answer

Consumer loans are typically used to finance the purchase of expensive goods, such as cars or home improvements, which are not affordable to pay in full upfront.

Which of the Following Is True of a Consumer Loan