Selling my car.. this is a bad idea, right?
 

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.

Should I give away my car?
 

No, and I fixed your subject.

Re: Selling my car.. this is a bad idea, right?
 

Yes, bad idea, NEXT!

Re: Selling my car.. this is a bad idea, right?
 

Sounds fishy, don't do it. Also, who would carry the insurance for the vehicle?

Re: Selling my car.. this is a bad idea, right?
 

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.

Re: Selling my car.. this is a bad idea, right?
 

[ QUOTE ]
write a post-dated check

[/ QUOTE ]

NEVER take a PERSONAL check for a car sale. Demand cash or a certified bank check.

Re: Selling my car.. this is a bad idea, right?
 

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.

Re: Selling my car.. this is a bad idea, right?
 

do it and post here what happens. we need entertainment.

Re: Selling my car.. this is a bad idea, right?
 

if he's just sold his house, shouldn't he have lots of money?

Re: Selling my car.. this is a bad idea, right?
 

Yes this is a bad idea.

Re: Selling my car.. this is a bad idea, right?
 

To quote Robert Dinero in Ronin: "If there is any doubt, there is no doubt." [img]/images/graemlins/grin.gif[/img]

The fact that you posted this says that you don't trust the situation either, so I'd listen to my gut.

Re: Selling my car.. this is a bad idea, right?
 

is bad advice guy your gimmick account?

Re: Selling my car.. this is a bad idea, right?
 

[ QUOTE ]
do it and post here what happens. we need entertainment.

[/ QUOTE ]

Re: Selling my car.. this is a bad idea, right?
 

Bad idea. I think this would have worked better as a poll.

Re: Selling my car.. this is a bad idea, right?
 

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.

Re: Selling my car.. this is a bad idea, right?
 

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.