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Okay, I am selling my Scion XA, and I wanted to sell it to a very

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radwriter0555 Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jun-22-05 08:11 AM
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Okay, I am selling my Scion XA, and I wanted to sell it to a very
trust-worthy friend of a friend. Sadly, he has too high a debt ratio to qualify for a loan. I know he's a good, kind man; his debt ratio is due to his being too nice to his ex-wife and her car debt on their mutual credit rating.

Let's say I trust him 100%. I'm leaving the country, and keeping my banking here. What arrangement could I make with him that would allow him to buy my car and 'guarantee' that I get paid?

Right now, I have the car payments on auto-debit with my bank...
I really do trust him, that's not the issue, but I'm a business woman too and I wouldn't hand someone $11,000 just because I trust them. Ideas? Suggestions?
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GOPisEvil Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jun-22-05 08:13 AM
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1. A signed promissory note would hold up in court.
In fact, in addition to having it signed, I'd get it notarized.
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