Give him the car. Assure the title and insurance is quickly out of your name. SMILE BIG and watch him drive away. That is a win win and the points you make with family will be 1000 % better than if you sold it.
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Owner Financing My Car
- Thread starter Buckaroo93
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Give him the car. Assure the title and insurance is quickly out of your name. SMILE BIG and watch him drive away. That is a win win and the points you make with family will be 1000 % better than if you sold it.
oops1
Buzzard Expert
Gootness
NE GA Pappy
Mr. Pappy
hey, if it is only a $800 car, hand him the keys, the title and say Merry Christmas.
you will save a lot of family relationships, and if he is any kind of man, you will have his undying gratitude.
you will save a lot of family relationships, and if he is any kind of man, you will have his undying gratitude.
Pig Predator
Useles Billy’s Fishel Hog Killer ?
This reminds me exactly of a situation my cousin went through. He signed the title over to a close friend, same deal, guy gave him $200 and $200 a month on an $800 car. His friend was late on the first payment. My cousin tried contacting him to no avail, phone was disconnected. A couple months had passed and my cousin gets a call from Hall county sheriff telling him that he was on the hook for repossession and storage fees on his car upward of $1000. The guy never had the title transferred and got busted with some ice in my cousins car that he thought he sold.
Your wifes nephews name isn't Curtis by any chance is it? Hope this story helps. I would at least take him/them up to the tag office and have the title transferred and cancel the insurance as soon as you leave there.
Your wifes nephews name isn't Curtis by any chance is it? Hope this story helps. I would at least take him/them up to the tag office and have the title transferred and cancel the insurance as soon as you leave there.
Take the $200, give him the title.
Are you going to risk getting crossed up with your wife for $600?
Life is wat too short.
bany
Senior Member
Sounds like a $200 car to me. Life assuredly will be better for all at that price!
Crakajak
Daily Driveler News Team
This^^^^^^.If you were talking $5000.00 different story. Sell him the car.Let him pay you the $800.00. Then give it back to him.Everybody wins.
EAGLE EYE 444
King Casanova
Now that I know this information, I agree with several others here that based on the dollar amount, it would probably be much better to actually find a way to "give" them this car and say, "when things get better for you, please do your best to pass this forward in the future". My thoughts were that most any car would probably be worth a few thousand dollars at least these days.
The fact is...NO, I am not wealthy BUT I do believe in helping others as I have done that for most of my lifetime. Every year, I find ways that I donate a total of about $3000 to worthy causes to certain people, churches, organizations, etc and this does not show up on my tax returns either. My father always taught me to do my best to help others along my life's journey and I try to do that as much as possible.
I'll even go a step further and pay the first $100 of their debt to you. If you will kindly check your private message feature for more information.
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model88_308
Banned
As I said in post #2 here, simply ensure the bill of sale and title reflect a proper transfer. Do not let him (them) move the vehicle until your insurance is cancelled. Or you can drive it to their place and cancel with your ins agent as you sit parked there in the vehicle. Don't forget to take your plate and registration.
Everyone deserves a break at some point in their young lives, but it is more important for you to divest yourself of any legal ownership of the vehicle, no matter what you do with the financial side of it.
Everyone deserves a break at some point in their young lives, but it is more important for you to divest yourself of any legal ownership of the vehicle, no matter what you do with the financial side of it.
Buckaroo93
Senior Member
Yeah...they are living in one of those “pay weekly” places and walking 2 miles to work at night. Tough. And the $800 car is actually worth about $1500.
beginnersluck
Senior Member
Get $200 now, give him a bill of sale, turn the title over to him, take it off your insurance, and if he pays great, if not...then you can chalk it up to a learning experience. At least it will no longer be in your name if something goes sour in the mean time.
dixiecutter
Eye Devour ReeB
Do what's in your heart, you'll either get the money or not. Insulate yourself from liabilty though: When they get the keys, you sign over the title
Crakajak
Daily Driveler News Team
Very well stated!!!
cramer
Senior Member
Best solution!
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