# Buyer wants to buy my used car in installments. How does this work?



## rexleonis (Feb 11, 2018)

Hi Expats!

I own an used car here in Italy and I'm selling it online. Somebody just called me and said he can pay half now and half in installments (rate). He said I can choose whichever bank I want. I don't speak Italian well to ask him more.

I have no idea how this works. Has anybody done something like this?


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## KenzoXIV (Nov 13, 2013)

rexleonis said:


> Hi Expats!
> 
> I own an used car here in Italy and I'm selling it online. Somebody just called me and said he can pay half now and half in installments (rate). He said I can choose whichever bank I want. I don't speak Italian well to ask him more.
> 
> I have no idea how this works. Has anybody done something like this?


Doesn't sit right for me. When something is paid in installments full payment is made to someone somewhere.

Example: I want to buy a new phone for €500. 
Option A: I pay the shop €500 euros, shop gives me the phone.
Option B: I ask a credit company to pay the shop, I pay the credit company in installments. This brings in a 3rd party. Credit company pays shop €500 (Full payment) and I would pay the credit company €50 a month for however long.

How you have described it working is: I go to the shop, pay half the money, and say to the shop, dont worry I will pay the 2nd half in installments but I want the phone today.... The shop will have half the money but none of the phone... not a fair trade.

Would you give him half the car in installments if he paid the full price now... would he be happy with that?

If he is paying something in installments it is for him to find the bank and make the agreement with them, so he can pay you in full. Do not give him your car unless you have full payment!

I hope that explains this better.

Kenzo


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