Monthly, End of Period, Seasonally Adjusted. Source: Board of Governors of the Federal Reserve System. Nonrevolving credit is closed-end credit extended to consumers that is repaid on a prearranged repayment schedule and may be secured or unsecured. To borrow additional funds, the consumer must enter into an additional contract with the lender. Consumer motor vehicle and education loans comprise the majority of nonrevolving credit, but other loan types, such as boat loans, recreational vehicle loans, and personal loans, are also included.
|Total Nonrevolving Credit Outstanding||2014-12-01||2423.93440000 (Billions)|