Consumer’s Right of Withdrawal in Installment Sales: Everything You Need to Know
Installment sales offer an attractive shopping option for many consumers. This method makes it possible to purchase high-priced items in smaller, manageable payments. However, before entering into installment sales contracts, it is important for consumers to be informed about their right of withdrawal.
What is the Right of Withdrawal?
The right of withdrawal is a right that allows consumers to give up the product or service they have purchased within a certain period of time and without giving any reason. This right is regulated in the Consumer Protection Law No. 6502.
Right of Withdrawal Period for Installment Sales
The right of withdrawal for installment sales is 7 days. This period starts from the date the product is delivered to the consumer.
How to Exercise the Right of Withdrawal?
To exercise the right of withdrawal, the consumer must make a written notification to the seller. This notification must clearly state that the right of withdrawal is exercised. The notification can be sent to the seller’s notification address or e-mail address.
Obligations of the Seller When the Right of Withdrawal is Used
The seller must return all fees paid to the consumer and, if any, delivery costs of the goods within 14 days after receiving the notice of withdrawal. The consumer must return the goods to the seller within 14 days.
Situations in which the Right of Withdrawal Cannot Be Used
The right of withdrawal cannot be exercised in all cases. Some situations in which the right of withdrawal cannot be used are as follows:
• Consumer uses or destroys the goods
• The goods become mixed or interconnected so that they cannot be returned.
• Starting the performance of the service (such as digital content)
• Expiry of the right of withdrawal
Important Recommendations
Before signing an installment sales contract, carefully read all the terms of the contract and the information regarding the right of withdrawal.
