Buying on time, or paying for something while you’re using it, was introduced by Isaac Singer in 1856 as a way to sell his sewing machines. At $5 down and $5 a month, the average family could afford a $125 machine—otherwise impossible on a typical $500 annual income.

When you need money to buy a car, pay college tuition, fix up your home, or for anything else that requires […]

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