Selling a car with a lien (CA)

we might sell an '70 bug and take payments for some of the Deal. Any pitfalls ? California. that is.

Reply to
A Veteran
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The problem is if something happens to the beetle day after it's sold and the person doesn't have some kind of insurance to cover the full cost you will be out.

Mario Vintage Werks resto

Reply to
Kafertoys

Yes, many. If you do this, give them a bill of sale with all conditions of the sale including a none-refundable clause for deposit and payments made to you and dates by which payments must be made to you. Of course the car will not be moved from your place nor signed title given untill all terms of the contract are met. I've done this before and it is hard to make work. Remember, you are doing them a big favor to take their payments and wait for your money. Make sure you both have signed and dated the bill of sale and have copys. Check with a lawyer to see what laws apply in your state since that is the state the sale is taking place in concerning the conditions of the sale. Stick to your guns on this or don't do it. Dennis

Reply to
Dennis

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