Answer:
Answer by Jim Bedsole: A credit sale is where the seller and creditor are the same person. An example would be an automobile dealer that does his/her own financing. They both sell the item and do the loan.
Answer:
Answer by John Burnett: A bank could be a seller and creditor if it were selling and financing repossessed or foreclosed collateral.
Answer:
Answer by Richard Insley: The short answer is that the consumer walks away from a credit sale with a set of keys, rather than a cashiers check.
First published on BankersOnline.com 4/4/05
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