Conditional sales contracts

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Conditional sales contracts

Similar to equipment trust certificates, except that the lender is either the equipment manufacturer or a bank or finance company to which the manufacturer has sold the conditional sales contract.

Conditional Sales Contracts

A sale of an asset in which the buyer assumes possession and may have use of the asset, but the seller retains title until the buyer pays its full price and may repossess the asset if the buyer does not. In exchange for the right to use the asset, the buyer makes payments over an agreed-upon period of time, whether months or years. This arrangement is most common with heavy equipment, machinery, and real estate. See also: Beneficial ownership, Lease.
References in periodicals archive ?
Buyers of this model can also benefit from Representative 6.9% APR** finance when purchasing on either Personal Contract Purchase, or Conditional Sale contracts over 36 months.
Hire Purchase & Conditional Sale: Hire purchase and conditional sale contracts are governed by slightly different rules.
* Customers can also benefit from a representative 6.9% APR** finance rate when purchasing a Hodgson 24 Special on either personal contract purchase or conditional sale contracts over 24 or 36 months.

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