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View Full Version : Selling my car.. this is a bad idea, right?

Joe826
10-06-2005, 01:51 PM
A guy who lives about an hour and a half away wants to buy my car from me, except he doesn't want to give me the money for 30 days or so. He says he's just sold his house and he'll have money for it Nov. 9th, so he was hoping he could take the car now and write a post-dated check, with a bill of sale, explaining the situation. I can keep the title until I actually get the money.

My biggest concern is that if something happens to the vehicle before I get my money, i'll still basically be responsible for it. Is this true even if we have a bill of sale? Sounds like an overall bad idea to me, but I really need to sell my car, so I was hoping for some second opinions.
IndieMatty
10-06-2005, 01:55 PM
No, and I fixed your subject.
NutCrackerr
10-06-2005, 01:55 PM
Yes, bad idea, NEXT!
mslif
10-06-2005, 01:57 PM
Sounds fishy, don't do it. Also, who would carry the insurance for the vehicle?
MrTrik
10-06-2005, 01:57 PM
The best thing that can happen is that you get your money on 11/9.
I can think of many bad things that could happen instead.

Go sell your car to someone with the cash. Tell this guy he gets it if it's still available when he gets the money.
wh1t3bread
10-06-2005, 01:59 PM
[ QUOTE ]
write a post-dated check

[/ QUOTE ]

NEVER take a PERSONAL check for a car sale. Demand cash or a certified bank check.
namknils
10-06-2005, 02:01 PM
This is a HORRIBLE idea.

Just curious, who is this guy? Do you know him already? Or is he just some stranger? If you don't know him well than I wouldn't do this in a million years.
10-06-2005, 02:03 PM
do it and post here what happens. we need entertainment.
10-06-2005, 02:04 PM
if he's just sold his house, shouldn't he have lots of money?
Lawrence Ng
10-06-2005, 02:09 PM
Yes this is a bad idea.
DasLeben
10-06-2005, 02:12 PM
To quote Robert Dinero in Ronin: "If there is any doubt, there is no doubt." /images/graemlins/grin.gif

The fact that you posted this says that you don't trust the situation either, so I'd listen to my gut.
lucas9000
10-06-2005, 02:12 PM
is bad advice guy your gimmick account?
cdxx
10-06-2005, 02:12 PM
[ QUOTE ]
do it and post here what happens. we need entertainment.

[/ QUOTE ]
GetThere1Time
10-06-2005, 02:14 PM
Bad idea. I think this would have worked better as a poll.
10-06-2005, 02:25 PM
Sounds bad. I recently sold a car for the first time ever. I didn't know what to expect and since the car was cheap, (1998 nissan, beat up, $2500 price range) I did get a lot of inquiries from ppl on fixed budgets offering to pay some now/later or asking if they could give me a post dated check.

Advice from almost everyone I asked was hell no, and in the end I sold less than I wanted ($2,200) but to a guy who paid all cash.
bravos1
10-06-2005, 02:26 PM
Yeah.. really bad idea, but only because of the money.

Once you "sell" him your car, you are off the hook for anything that happens regardless if he has actually paid you or not. This is just like buying a car from a dealership w/ no money down. Once you sign it over to him, it's his responsibility.

Anyways, do not do this!! Tell him that either you will "store it" for him and once he pays fully, it is his to take. My wife and I did this for a client of my wife's and he paid us in 4 monthly payments, once fully paid, he was free to take the car.

If you go this route, make sure you have a contract in writing w/ payment term and have it signed by both parties. Also have each of you initial when each payment is made.

Do not let anyone "buy" and use your car before fully paying for it. This just covers your ass.