Autoescuela Marroig

Plaza de Toros
Subscribe

Enter Into Loan Agreement

septiembre 19, 2021 By: admin Category: Sin categoría

Seller financing is a loan from a seller to a buyer in which the buyer does not have the money to cover part or the total purchase price of the asset. In the case of seller financing, ownership of the asset is transferred to the buyer, who then takes credit from the seller and offers the seller collateral interest on the acquired asset. In the case of a motor vehicle, the transfer of ownership of the business to the buyer allows the buyer to take out insurance and registration. The sole purpose of the loan is to facilitate the purchase of that particular asset. The asset itself is used by the buyer as collateral for the loan. This means that the seller could assert a claim against the asset if the buyer were to default on one or more credit payments. .

Comments are closed.