 OT - Selling the Durango - need title/lien help, I'm financing it for the buyer |
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| seanery |
 Apr 28 2009, 11:06 AM
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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) |
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| boxstr |
Apr 28 2009, 10:58 PM
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MEMBER:PACIFIC NORTHWEST REGION Group: Members Posts: 7,522 Joined: 25-December 02 From: OREGON Member No.: 12 Region Association: Pacific Northwest |
I agree with both Mikes. Ask me how I know also. I would tell the buyer to go and get a loan from a bank or mom and dad. It is not worth the hassle that you will have to go through when he can't make the payments because he lost his job, the SO tells him goodbye or the car is damaged beyond repair or stolen.
CCLINNOTABANK |
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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 Ferg Be careful dude, friend or no friend this is a ris... Apr 28 2009, 11:36 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 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 |
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