retail installment contract


Also found in: Acronyms.

retail installment contract

A contract that provides compensation for consumer goods or services by making payments over time,usually at a high interest rate.

References in periodicals archive ?
The contractor may then collect the finance payments from the consumer, choose to sell the retail installment contract as a separate receivable, or package many such contracts together and sell them as a portfolio in the secondary market to an investor.
The company, which began originating retail installment contracts in 1997, has a serviced finance portfolio of more than USD 37bn (as of June 30, 2014), has more than two m customers across all credit grades, and is headquartered in Dallas.
DocOne and our retail installment contracts not only ease the finance process, but they also free dealers from the cost and time associated with maintaining extensive finance document libraries," said Lee Domingue, CEO of Indirect Lending at Wolters Kluwer Financial Services.
Quantum Auto Group is a sales finance company that originates retail installment contracts or auto loans from auto dealerships and then sells them to a variety of financial organizations.
23 November 2011 -- DBRS on Tuesday terminated its rating on the notes of Canada-based CNH Capital Canada Receivables Trust, engaged in the acquisition and administration of retail installment contracts and finance lease contracts.
The Company transfers receivables, consisting of retail installment contracts and revolving accounts extended to its customers, to a qualifying special purpose entity in exchange for cash and subordinated securities represented by asset-backed and variable funding notes issued to third parties.
Using its branch network and strategic alliances with auto groups and banks, the Company purchases retail installment contracts entered into by auto dealers with consumers who are typically unable to obtain financing from traditional sources.
The Company transfers receivables, consisting of retail installment contracts and revolving accounts for credit extended to its customers, to a qualifying special purpose entity in exchange for cash and subordinated securities represented by asset-backed and variable funding notes issued to third parties.
Independent auto dealers access these forms, which include retail installment contracts and other documents such as state DMV forms, using AppOne's online Web-based platform.
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