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