Does anyone know about a law that allows a person to only start paying 60 days after taking delivery of the vehicle? Heard it from a salesman, not sure if he was trying to push for a sale or speaking the truth.
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60 day payment delay law
- Thread starter Nangi
- Start date
ToxicBunny
Oi! Leave me out of this...
Depends on the type of deal being arranged.
There is no law regarding this.
There is no law regarding this.
You and the finance provider can agree on repayment terms, which includes when the first repayment is due.
Vehicle dealers prearrange finance deals in some cases with terms that include that the first payment is only after X months. It is likely the salesman was trying to sell you a car with pre-arranged finance deal.
Keep in mind that interest will be accruing in the period between when you get the vehicle and make your first payment.
Vehicle dealers prearrange finance deals in some cases with terms that include that the first payment is only after X months. It is likely the salesman was trying to sell you a car with pre-arranged finance deal.
Keep in mind that interest will be accruing in the period between when you get the vehicle and make your first payment.
So true. These sales people conveniently don't tell you about the accruing interest unless you specifically ask them about it.
HavocXphere
Honorary Master
Sounds like industrial strength bullsht.
Many of these gimmicky sale offers allow for a delay, but law...nope.
Many of these gimmicky sale offers allow for a delay, but law...nope.