Examples of Installment Credit To make this a comprehensible article about installment credit I want to first define it. If you want to just see the examples, they are down below in this article. So What is Installment Credit Installment credit is a type of credit that allows someone to borrow a certain amount of money from a lender and repay it. Usually, a set amount of money is paid monthly over a predetermined period of time. This type of credit is commonly used for large purchases, such as homes, cars, and college education that people may not be able to afford upfront. How Installment Credit Works The process begins when someone chooses a lender and a loan amount. Once the loan terms are agreed upon and documents signed, the lender gives the money either directly to the person or the place of business the person is wanting the desired…