Car Conditional Sale

Conditional sale that also means hire and finance purchase, is a purchase accompanied by an agreement to resell the vehicle upon particular terms.

Following an initial deposit, it is essential for a person who buys a car on the conditional sale scheme, to make regular monthly payments, and at the same time maintain and properly insure the car.

If these conditions are followed, then only the ownership of the car is given over after the final installment is made. During this period of time the lender may repossess the car, if there are any defaults like non-insurance of the car etc.