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JBaxLaw, Attorney
Category: Business Law
Satisfied Customers: 11396
Experience:  Experienced in business formation and licensing issues
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If you dont charge interest do you need an installment sellers

Resolved Question:

If you don't charge interest do you need an installment sellers lic in mi
Submitted: 5 years ago.
Category: Business Law
Expert:  JBaxLaw replied 5 years ago.
What are you selling? Are you financing, but charging no interest?
Customer: replied 5 years ago.
I am a used car dealer,and yes financing but no interest
Expert:  JBaxLaw replied 5 years ago.

I am an expert at JustAnswer and will be assisting you. I would like to address a few important issues before answering your question.

Please note, nothing herein is intended as legal advice, no legal advice is being provided, no attorney-client relationship will be established and only general information is provided so that you may analyze your situation.


It does not matter if interest is charged. The installment seller's license is required if two or more installment payments are to be made under a contract no matter if interest will be charged. See the following:,4670,7-127-14636-37628--F,00.html

Please feel free to follow-up. These detailed matters are difficult to address in this context because of the vast number of variables. Sometimes the back and forth dialogue can help us sort through those issues. My goal is leave to you with a satisfactory answer..

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Thank you so much
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