Need help with financing buyer of my NSX

[tschang13]

Actually the question I have has to do with financing, more specific, I need help with the paperwork relating to financing the buyer of my NSX by me (i.e., I am doing the financing, not the bank).

The first question is how do I transfer the title if I am financing the car for my buyer? Do I put my name in the lienholder section (and of course NOT sign it) and then just give it to the buyer?

Any comments or suggestions are greatly appreciated.

Dan

 

[rossii]

Re: Need help with selling my NSX

You are financing? That is something I wouldnt do...........as for the title you wouldnt give it to the buyer till he/she pays in full. Just as the banks do. I would check with DMV to get full details.

GL

 

[tschang13]

Re: Need help with selling my NSX

You are financing? That is something I wouldnt do...........as for the title you wouldnt give it to the buyer till he/she pays in full. Just as the banks do. I would check with DMV to get full details.

GL

Thanks for the comment! Appreciated.

 

[Racerxjling]

Re: Need help with selling my NSX

Wow, I wouldn't finance it unless you REALLY know the person well...this can even ruin a solid relationship if something goes sour w/ the payments. Of course, you hang onto the title as the banks would do til' it's paid off in full.
Good luck to you.

Jeff

 

[schuey1010]

Re: Need help with selling my NSX

Ummmm.... not so much

think twice about what you are doing.

 

[tschang13]

Re: Need help with selling my NSX

Again, thanks to everyone for all your feedbacks!

I didn't think I was gonna miss my NSX but I'm beginning to now. I'm gonna really miss it ;-(

 

[RYU]

Re: Need help with selling my NSX

Sounds like you've already done it. You're taking the same risk any bank is taking but they have deeper pockets to handle a default and a collection agency.

anyway, my suggestion would be to have the buyer make sure it's fully insured (read: comprehensive coverage). I believe there's a way to include you as a lienholder on the policy therefore.. should anything to the car the replacement value $ will go to you. enforcing that he pays for the policy is a different issue however.

good luck!