i need a littlehelp, im stuck.
Thread Starter
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Professional
Joined: Mar 2011
Posts: 128
Likes: 0
From: TEXAS
i need a littlehelp, im stuck.
i got a guy wanting to trade, but he still owes on the truck. he said its gonna be the end of this year untill he finishes payments, but we wanna trade sooner than that. he doesent have the title cause he hasnt finished paying the truck off. and i dont want to give him mine untill i have his. but then again i dont want to be driving the truck and then him decide oh well i legally still own the truck i want it back, is there anything i can let notarized or something saying im the legal owner untill her finishes it off and gets the title in my name?
All Star
Joined: Sep 2009
Posts: 898
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From: California
What's the reason for trade? I would definitely not touch his truck until they are all paid off, and you have all of the legal paperwork stating that each truck is switching hands. Don't do it. Even the seemingly most honest people can be scum.
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Veteran
Joined: Feb 2011
Posts: 420
Likes: 0
From: zanesville ohio
I would stay completely clear of the deal until titles are in hand! It isn't that long until the end of the year and it will be alot nicer to be setting in your new to you truck with title in hand then setting in the cold wondering what happened.
Thread Starter
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Professional
Joined: Mar 2011
Posts: 128
Likes: 0
From: TEXAS
alright heres the new plan, im gonna get the title transfered to my name like im gonna take over the payments, and then im gonna have him sign a contract and get it notarized and all that good stuff sayin that he will pay X amount every month untill the balance of X (i think its like 2000?) is paid. does that sound better? cause i cant get the truck registered in my name w/o the title. i also cant get insurance w/o the title.
Administrator
Joined: Jul 2007
Posts: 24,686
Likes: 21
From: South Georgia/East Florida
I still wouldn't do it if it was me. Having a contract and even winning in court is still not collecting on any losses you may incur if he decides to just stop paying. Winning a court case is one thing, collecting on the debt is another. Just be prepared to start making that payment of X every month until the balance of X is paid if you go through with this deal, cause it could happen...