Ch 07: Assignment- Using Consumer Loans Back to Assignment Attempts: Average: /13 Attention: Due to a bug in Google Chrome, this page may not function correctly. Click here to learn more. 1. Characteristics and types of consumer loans A Aa Credit can be great to have. In some situations, having credit can even help you achieve some finandal goals, but only as long as you management program. Consumer loans can be part of your credit Identify characteristics of a consumer loan in the following list. Check all that apply Used primarily to buy low-cost goods and services on an ongoing basis D Has a fomal, negotiated contract can be used repeatedly as long as it is not canceled Is informally arranged Has a specific repayment schedule for a defined period of time and a defined amount used to pay for comparatively expensive and infrequent purchases