Consumer credit is a loan granted directly to citizens (households) for the purchase of consumer goods. Such a loan is taken not only for the purchase of durable goods (apartments, furniture, cars, etc.), but http://usapaydayloans.info/tennessee/cookeville/ also for other purchases (mobile phones, household appliances, food). It is valid either in the form of sale of goods with deferred payment, or in the form of a Bank loan for consumer purposes, including credit cards. At the same time, a rather high percentage is imposed. Typically, consumer credit is accompanied by additional fees and charges that increase the actual cost of the loan and create a so-called hidden interest rate. Therefore, the choice of loan in this or that Bank, the origin of the established interest rate on the loan, may not always be the best. In this case, it is necessary to manage the calculation of the real cost of the loan (effective interest rate). Also, for loans issued to citizens in cash for the current, you need mutual assistance cash desks in enterprises in organizations, and organizations under the responsibility of its settlement from the salary of the participant of the cash register belong to the (interest-free) consumer credit. Monetary credit to the population for the needs of the consumer is issued by pawnshops on the safety of things. These loans help to accelerate sales of products, more complete and timely meet the ever-increasing needs of the population for consumer goods at the expense of their future income. The need for consumer credit is caused not only by meeting the needs of the consumer population, but also the interests of producers in order to ensure the continuity of the reproduction process in the case of the sale of goods.
