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1. Characteristics and types of consumer loans Credit can be great to have. In some situations, having credit can even help you achieve some financial goals, but only as long as you manage your credit well Consumer loans can be part of your credit management program. Identify characteristics of a consumer loan in the following list. Check all that apply. Has no specified repayment plan except periodically due minimum payments Has a specific repayment schedule for a defined period of time and a defined amount is informally arranged Used to pay for comparatively expensive and infrequent purchases Types of Consumer Loans Types of Consumer Loans Select the term assocated with consumer loans that corresponds to each of the given descriptions. (Note: These are not necessarily.com definitions, but there is only one possible answer for each description.) Description Term May be available for those who don't qualify for Stafford or Perkins loans Vaned loan terms, depending on the type of asset purchased, such as home entertainment systems on boats Available to students through government programs Loan for a car, truck, or minivan ar an SUV Auto loans Used for nondurable expenditures and often granted based on a borrower's promise to repay the loan rather than using a specific asset as collateral to secure it otion ssarily Auto loans Consolidation loans Education loans Loans for other durable goods Parent loans Personal loans

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