Homework answers / question archive / Identify the type of finance company described in each of the following scenarios

Identify the type of finance company described in each of the following scenarios

Finance

Share With

Identify the type of finance company described in each of the following scenarios. Consumer Finance Company Business Finance Company Captive Finance Subsidiary Scenario Paolo wants to purchase a truck, so he works with this type of company to finance the purchase. O Orange, a local microprocessor production company, takes out a loan from this type of finance company in order to finance the purchase of materials used to make microprocessors. Mila's Music, a distributor of grand pianos, receives wholesale financing from this type of finance company so that it can purchase Steinway pianos for the store's showroom. The financing company lends the money to facilitate the sale of the product because it is an entity that benefits from higher sales by Mila's Music. True or False: Finance companies do not need to comply with federal statues governing equal credit opportunity. O True O False