One of the options when buying a 0 km is financing the price giving in new vehicle warranty.
This occurs in operations in which the buyer does not have the full amount to pay the price of the unit or when at the time of pickup of the unit he cannot afford the patenting and delivery costs.
In these cases, the buyer must sign a pledge contract in which the 0 km vehicle is guaranteed in exchange for financing the balance of the price of the unit and/or expenses.
If this is the option chosen to access the purchase, it is important to know in detail the total amount for which the pledge will be signed. This could occur in cases where the buyer has another associated contract, such as bank loans or savings plans.
This detail in the total amount is always requires the seller or whoever is going to finance But the burden increases when the buyer is a final consumer since the Consumer Protection Law can be applied.
In these cases, a consumer relationship is generated requiring greater clarity in the entire contract since the supplier has a more complete knowledge of the entire operation.
Once the pledge contract is signed, giving the new vehicle as collateral for the balance of the debt, it is registered in the Automotive Property Registry so that any other person can know of its existence.
This registration will continue until finish paying the debt and the pledgee issues a certificate allowing the debtor to present it to the Automotive Registry for its collection.
Once this occurs the owner You will be able to have your vehicle completelyand can even sell it if you wish.
But until the debt is fully paid, the creditor may request the seizure of the vehicle and even auction it off if there are delays or non-payment.
This is very important to take into account since the vehicle that constitutes a pledge It cannot be sold because it has a debt. Except in cases where the debtor asks the creditor to give his consent with a new debtor who will continue with the pledge contract.
If this approval is not given, the buyer who owns the vehicle You must continue paying the balance of the price to be released or wait to finish the installments to be able to obtain the certificate of full payment and present it to the Automotive Property Registry.
It is made clear that the specific case must always be evaluated and this note does not imply advice on the specific situation but rather general guidelines.