If you are not eligible for a payment plan through the online payment tool, you can still pay in installments. The vehicle payment agreement applies to any type of automobile in which the buyer and seller agree that the price is paid in stages. In most cases, the buyer agrees to pay in advance an amount called « acomphes », an interest rate (%) and the duration of the payment period. Once this has been agreed, the payment plan is ready to be approved at the same time as a sale of vehicles that legally binds the parties to their financial obligations. The agreement should be negotiated between the buyer and the seller. Both parties must understand the conditions and be on board. You should not sign a instalment payment contract until you are sure you understand the terms. Many people have a lawyer who checks the conditions of buying or selling the car. For businesses, assets over $10,000 must be paid by direct debit. A tempe purchase agreement for the retail trade is slightly different from a credit. Both options are ways for you to get a vehicle by agreeing to make payments over time.
In both cases, you are usually bound by the agreement after signing. If you cannot review an existing instalment payment agreement online, call us at 800-829-1040 (individually) or 800-829-4933 (business). If you have received a notice of delay and are unable to make changes online, follow the instructions in the letter and contact us immediately. A payment agreement would be concluded between all private parties who sell cars. It is important to write this documentation, especially if no trader is involved….