_________ are for profit organizations that exist primarily to provide customers with consumer credit, including the financing of automobiles and the purchase of durable goods

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02-06-2021
Business

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_________ are for profit organizations that exist primarily to provide customers with consumer credit, including the financing of automobiles and the purchase of durable goods

Sagot :

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Topeadeniran2idn Topeadeniran2idn · Answer 1 · 2021-06-06T21:01:33-04:00

Answer: Finance companies

Explanation:

Finance company, refers to specialized financial institution that provides credit in order to buy consumer goods and also grant small loans to their consumers. They're different from the commercial banks as they do not accept deposit.

Finance companies can also borrow money from the commercial banks or the Federal Reserve System at a low interest rate and will then lend the monwy out at a higher interest rate.

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