Buying a vehicle on Ebay

[Homey the clown]

Okay looking at some of the vehicles on ebay I've noticed that some of them require a deposit from $500 to over a $1000. Now is that deposit, sort of like a down payment or what? Also if you purchase a car on Ebay can you work out a deal with the seller to make monthly payments or do you need to have all the money for the vehicle by acertain time before the buyer agrees to ship the vehicle to your location? I'm asking because I am trying to buy this Chevy Silverado Truck off of Ebay for $11,000, I have over $2500 saved up so far .

 

[Art Norm]

The deposit is not a down payment. You purchase the vehicle, pay the deposit, then you usually have a week to pay the rest, while you figure out how you’re gonna get it home, etc. Depending on how it’s listed, there’s a chance that the deposit could be non-refundable. As far as making arrangements with the seller to make payments you’d have to discuss that with them. The seller info should let you know if they offer financing or not. If not you can use a third party financing company.