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Old 05-24-2009   #1 (permalink)
chris7869 is offline Rookie

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Question Selling Mustang - need pointers

anyone sell a car where the title is still w/lein holder? got 3 payments, but cant get a hold of them this weekend. someone wants to buy it cash today, but I wont be able to give them the title nor sign it over to them? Advice? Do I draft up a letter for a promise of any kind or what. i havent done this b4.
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Old 05-25-2009   #2 (permalink)
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Take the $, You both will be happier knowing there was $ transfered and that wondering feeling of whether the buyer is going to come back won't be there. If I were the buyer, I would want you to write a receipt, writing a receipt will let the buyer leave at least knowing you won't sell it out from under him, and there is proof he gave you $. If you both agree the car is sold and you are just waiting for the title, DO NOT DRIVE IT! Those nostalgic "one more time around" drives don't always work out well. DO NOT let the buyer drive off with the car, it is still yours, your insurance, your responsiblity. In my experience, it will take the bank up to 2 weeks to produce the title after receiving the final payment, so don't count on the actual sale happening today, but the promise of the sale CAN happen today. If the buyer does not want to leave at least some $ w/ you, then maybe it was not meant to be. Don't spend any $ you don't have on someone elses promise. I have made 2 sales witout the title, both times the buyer was more then happy to give me ALL the $ upfront (I have an honest face I guess). Good Luck
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Old 05-25-2009   #3 (permalink)
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+1 on that one!
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