One of the mysteries of the English language finally explained.
Credit for a fixed sum to be repaid in instalments, e.g. for hire purchase.
- ‘There was a decidedly speculative element in the growth of instalment credit: present consumption was being financed with anticipated earnings.’
- ‘He invented the basic tools of modern marketing, including market research and market analysis, pricing policies, parts and service supply to the customer, and instalment credit.’
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