 OT - Selling the Durango - need title/lien help, I'm financing it for the buyer |
|
|
|
Porsche, and the Porsche crest are registered trademarks of Dr. Ing. h.c. F. Porsche AG.
This site is not affiliated with Porsche in any way. Its only purpose is to provide an online forum for car enthusiasts. All other trademarks are property of their respective owners. |
|
|
| seanery |
 Apr 28 2009, 11:06 AM
Post
#1
|
|
waiting to rebuild whitey!  Group: Retired Admin Posts: 15,854 Joined: 7-January 03 From: Indy Member No.: 100 Region Association: None  |
I'm selling my 2004 Durango to a friend. I'm financing it, he's making 25 payments for it. I'm leaving the country soon and want to get this done before I leave.
We've got a promissory note filled out, but I'm not sure what to do with the title. I assume he's gonna need it to register the car, but I want it back as security. I guess I need to know, how do I put a lien on it? Do I need to do that, or just have him send me the title once it's registered, and I'll return it when paid off? I'm not too worried about getting ripped off, I just want a bit of security. Thoughts, opinions, & experiences are all appreciated. ps...I need to make delivery by Sunday (IMG:style_emoticons/default/biggrin.gif) |
   |
 
|
  |
Replies
| Ferg |
Apr 28 2009, 11:36 AM
Post
#2
|
|
914 Guru Group: Members Posts: 5,948 Joined: 8-January 03 From: Boulder CO Member No.: 116 Region Association: None 
|
Be careful dude, friend or no friend this is a risky thing to do.
I would also draw up some damage clause documents, ect, just in case you need to take the truck back before it's paid... Also, make sure he shows proof that it's fully insured ect ect. Ferg. |
|
|
|
Posts in this topic
seanery OT - Selling the Durango - need title/lien help Apr 28 2009, 11:06 AM
Bruce Hinds Check with your local department of motor vehicles... Apr 28 2009, 11:14 AM seanery just found out from the DMV that I just list mysel... Apr 28 2009, 11:17 AM
skips I would ask a lawyer in your state.
Here in Flori... Apr 28 2009, 12:36 PM Gint That can be a very quick way to end a friendship. ... Apr 28 2009, 02:42 PM boxstr I agree with both Mikes. Ask me how I know also. I... Apr 28 2009, 10:58 PM LvSteveH Darn, I was hoping to use the CCLINEZPMTPROGRAM ... Apr 28 2009, 11:40 PM siverson And I'll add that if someone can't get a l... Apr 29 2009, 08:53 PM |
1 User(s) are reading this topic (1 Guests and 0 Anonymous Users)
0 Members:
|
Lo-Fi Version | Time is now: 31st October 2024 - 07:28 PM |
Invision Power Board
v9.1.4 © 2024 IPS, Inc.