Loans providing credit to finance the purchase of automobiles,mobile homes,appliances,and other retail goods to repair and modernize homes are classified under the category:

Question

Quizplus · Accepted Answer

Loans to individuals are specific to consumers and are meant for personal use. These loans cater to specific needs of an individual such as purchasing cars, mobile homes, appliances, and other retail goods, or to repair and modernize homes. Therefore, the loans providing credit to finance the purchase of automobiles, mobile homes, appliances, and other retail goods to repair and modernize homes are classified under the category of loans to individuals.

Loans Providing Credit to Finance the Purchase of Automobiles,mobile Homes,appliances,and