Sentences with phrase «purchased over the course of a loan»

Many banks will also require a borrower to insure an asset being purchased over the course of a loan (with an insurance policy acquired for that purpose), to protect the value of the asset being purchased with the loan proceeds.

Not exact matches

These charges are almost always bundled into your principal (i.e. the amount you borrow), meaning that you borrow the money for these charges and you pay them back over the course of your loan just like your «amount financed,» or the amount you borrow to make your purchase (s).

When borrowing to meet needs like purchasing expensive, heavy equipment, expanding into a new location, or building a new warehouse, a longer - term loan can be a good fit because the longer term allows the borrower to reduce the amount of the periodic payment over the course of the loan and better match to the productive term of the equipment.

However, an unsecured loan for the amount to purchase the same washing machine might have been repaid over the course of two years or less, with much reduced interest charges.

Personal installment loans are often ideal when you need to finance larger purchases, as they are repaid through a series of regular monthly payments (or installments) over the course of the loan.

From mortgages to car loans to $ 700 smartphones we pay for over 24 months, we're taught to spread the pain of our purchases over the course of many months or years.