My boss is selling his 1985 Chevy Suburban to one of his friends…payment style. He is getting a down payment from the girl but she is going to pay off the remainder over the course of 6 months. I know what most of you will say “Never sell a car before getting all of the money first” but hes trying to help the girl out and really doesnt think that there will be any problems with her making the payments. Now the question is, where can we find a contract template online that we can print out that basically says shes putting x down and paying x a month and if she doesnt pay then x will happen?
PLEASE, NO “This isnt a good idea” or “he should do this…”.
I like how he’s worried about not getting paid… that’s the least of his concerns when she’s riding around in a car titled to him. just think of all the things she could do from a parking ticket to killing somebody…
and you think you’ll find a website with a contract for this?
really no need for a contract style format just write out the terms on paper and get it signed by Notary…any back has a Notary…both of them go in and 3 parties sign at the same time
any Bank has Notary…not back…make sure they put all the terms u can think of…include a time period of payment and state in the “contract” with said time period
I don’t think he still owes money on a truck from 1985.So I don’t see where you assumed he would keep the insurance in his name. He will probably write a bill of sale and a contract that way in case she is a scumbag. Which i imagine someone who has no car and is looking at a 85 suburban is. The fact is he can take her to court and get a judgment.
now try again using the word “title” somewhere. you really think he’s going to sign over the title with a lean on it for a truck like this.
what happens in 90% of these cases is that the truck breaks down and she can’t afford to fix it an stops paying because he obviously sold a lemon then they both end up on judge judy for my entertainment.
also note that a notary does not make a contract legally binding, it just means that on a given date and time somebody signed a piece of paper.
I watch judge judy as much as you lol. My point is he would be even less intellegent to leave it in his name. She obviously does not make good decisions in life if a 85 suburban is out of reach.So leaving it titled to himself who know where the truck could end up. Abandoned, In impound,or rolled over on tift. I suggest he gets a contract set up with the payments figured and has it notarized at his local bank.Now if she turns out to be a dumb cunt. It cost 15 dollars to file for small claims court.Obvious girl is pos probably wont show up to court. Judge gives him the judgement. He goes to the sheriffs processes judgement(he knows where she works) Now she pays him back every week.
then you should know that a notary does not need to understand what is being signed. he / she is only validating that something was signed by somebody on a given date and time. Hence why it doesn’t take any intelligence to be a notary. btw fuck you.
nitro: he’s smart to just sign it over. I agree he should make the price whatever cash she has then have her do a personal loan from him and document it well. now all you need to look for is a good form for a personal loan.
