What is Consumer Financing?
Consumer financing provides individuals the necessary financing for personal purchases ranging from buying a car, shopping purchases to buying a house.
Most people dont normally get access of capital through equity markets so they would normally get access to debt finance through the established financial institutions including banks, credit union, insurance companies etc. This debt is usually in the form of a credit card or loan.
What are the benefits of getting finance?
A loan gives you the money you need to pay for something big like a house, a car, college tuition, or major home repairs when you don't have the cash to cover the purchase. While small purchases can be paid for in advance with a credit card. Most people could not afford to do these things without finance.
Types of financing options for Consumers