The sale on credit is the type of operation in which the payment is made in the medium or long term, after the acquisition of the good or service.
It is called a credit sale to which it has the purpose of distributing the payment of the good or service acquired in a certain period established in advance between the buyer and the seller, so that the former can amortize it, for example, in several months.
The term credit comes from Latin and is related to the concept of trusting or having confidence. Thus, the idea of sale on credit has to do with the seller's ability to "trust" that the buyer will pay the corresponding amount. Nowadays, however, the buyer is legally obliged to pay within the stipulated period. Otherwise, you may have your assets or properties seized.
Receiving a credit or a credit card is currently linked to the solvency that the debtor is interpreted to have. That is, to obtain one of those, a particular individual must often have a job or a certain income and must also prove that they have canceled other debts contracted in the past.
The sale on credit depends on many variables and can be done in different payment terms. In general, the buyer has a period of thirty, sixty or ninety days to pay what he owes. Or, you can do it in installments or in cash reached a date.
Buying on credit is very common, since it allows people with limited incomes to access the acquisition of goods and services that would otherwise be out of their reach. However, very often buying on credit involves the payment of interest that is added to the initial amount, so that the final price of the product can either increase considerably.
