 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: 15,857 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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| Bruce Hinds |
Apr 28 2009, 11:14 AM
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V-8 madness Group: Members Posts: 748 Joined: 27-December 06 From: Port Orchard, WA Member No.: 7,391 Region Association: Pacific Northwest |
Check with your local department of motor vehicles or what ever its called in your state, they will know. Each state is a little different, but the one thing that they all have in common is that you don't give up the title until you have the money or the appropriate loan/lien documents on file.
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Posts in this topic
seanery OT - Selling the Durango - need title/lien help Apr 28 2009, 11:06 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 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 |
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