Can i get into a business contract with a person im buying a car from?
Im going to a car auction with a guy who has a dealers license to buy a car that im going to use for my business.
I started working recently, so i dont have the $30,000 i need to buy the car, but i make about 2k a week if i work everyday.
I was thinking i could get in writing that i agree to pay him full within 30 weeks paying $500 minimum a week.
Is this legal?
Possible?
Likely?
Why would he agree to that?
Go get a loan.
>>1486743
What's preventing you from getting a normal-ass car loan from a bank? If I were him, I'd never accept that kind of arrangement.
>>1486747
Cant get a loan because i dont have enough income history
>>1486754
Even if i offered to pay him interest?
>>1486756
If you can't get a loan from a bank, why would somebody give you a private loan based on some contract you drew up on paper? He could just sell the car to someone for cash.
>>1486760
Yes, because you're making him assume the risk of you not paying. He's not in a position - like a bank is - to come after you easily if you suddenly stop paying or lose your job or something. Your agreement also requires that he keep up with your ass for nearly a year to get his money back. It's all one big hassle he shouldn't have to agree to, considering there's a huge industry out there 100% willing to do that.
>>1486770
Hes going to be providing me with insurance for the vehicle, he owns an insurance brokerage
Here's another thought: why don't you just buy a car that you can afford?
>>1486822
What an idiot... right?
How you gonna pay for the other half of the car OP?
>>1486743
OP isn't telling us something.
What did you do before that allowed you to get into contact with this "friend"
What are you buying at auction that costs 30K lolol. 2K a week and can't buy a car, you're doing something wrong. Stop drinking your pay checks