Essentially, the financial institution purchases the vehicle and then leases it to the consumer at a monthly cost that covers the depreciation of the
vehicle over a defined period of time plus an additional profit.
Access to funds — A home equity loan provides you the money in an upfront lump sum and you repay
over a defined period of time.
1The current account records a nation's transactions with the rest of the world — specifically its net trade in goods and services, its net earnings on cross-border investments, and its net transfer payments —
over a defined period of time, such as a year or a quarter.