Are you willing to implement a layaway program instead? If so, you can implement a transaction tool like PayPal to initiate recurring monthly payments. If the user cancels, you can refund the balance. When the product is paid in full, you send it to them and cancel future recurring payments.
Not the most customer friendly solution, but it is less liability and easier to implement for you.
Not the most customer friendly solution, but it is less liability and easier to implement for you.