Installment Sales

Installment sales refer to a sales arrangement where the buyer pays for a product or service over time, rather than in a single lump sum. The seller typically allows the buyer to make smaller, regular payments, which can make expensive items more affordable. Ownership of the item may transfer immediately, or it may remain with the seller until all payments are completed. This method is commonly used in real estate, automobiles, and high-ticket items. Installment sales can benefit both parties by facilitating sales and providing buyers with manageable payment options.