Consumer installment refers to a method of paying for goods or services over time. It is when a consumer purchases something and agrees to make regular payments, usually monthly, until the entire cost is paid off. Full definition
The most popular consumer installment loan products are mortgages, student loans, auto loans and personal loans. (valuepenguin.com)
Pay down consumer installment debt (car payments) to 10 months remaining. (jvmlending.com)
Since the recession's end, consumer installment loans have grown faster than real - estate secured debt and has been shown to be rising faster than household income as well. (eyeonhousing.org)