Someone contacted me about buying my car and he said he wants to make payments. He would have a lawyer written contract and he said i would keep the title but he would drive the car with full insurance. Is this a scam or is it for real?

If a bank won't give him credit, then why would you want to? Sounds risky to me!

If you are not a bank don't do it. Most folks who want that have bad credit. Bad credit is something they earned by poor fiscal behavior. Tell him there are plenty of places willing to loan money on older cars. I have a couple buddies that do this or their other friends. They are idiots IMO. 95% of the time they get burned. :clonk: The only way I would even consider it if they want to make payments , hold the car until it is paid for (layaway deal) .

yea that might be the only way i would do it if i could hold the car for him

Cash in hand is 100% deal

Involve "his" lawyer and you will lose big time.http://www.hardcoresledder.com/forums/style_emoticons/default/banghead.gif
JMHO
Tell them to get lost, if the guy that wants to buy your car has to make payments tell him to to go buy a ford pinto something he can afford!

lets get real for a second- if hes got a lawyer- he doesnt need to make payments-... if that doesnt make sense-

HAVE THE lawyer buy the car- make sure its cash and its good- IF the lawyer is doing it as a *friend to the guy*- for his services- make him *pony up*

like the others have said -if your name doesnt have the word *bank* at the end- tell him to come back when he gets money...

IMO-you dont need someone that is going to take something without giving nothing except his lawyers word and his promise----- try taking that promise to the bank and see if they will loan ya money on that one...Heck with that lawyer- if he didnt even pay you a nickel- and you asked him for it- he might just take YOU to court....and even have some weasely clause that can only be read using a legal dictionary and a 40X magnafier

my .02--- heck it keeps HIM honest

Lord knows that there seems to be alot of ppl out there that want without having to pay....

If they can't get a loan from a bank what makes you think he will repay you? Having a contract and the title means nothing if he disappears with the car. Ok deal if you keep the car and title until he pays. What if it blows it up or wrecks it and the insurance doesn't pay? The only time I took payments I got burned.....

In 1963 I took a '55 Ford for a down payment on a '56 Chevy. I got the title to the Ford and we had a contract written so he could pay the balance in 6 payments of $50 each. We lived in a small farming town where doors weren't locked. The buyer had been in my new wife's class, and had lived there all his life. Later in the day a friend who drove truck said he saw the '56 on 101 about 150 miles south. The car and new owner were on their way to California and I never saw the money, or either again until over 40 years later at an "all School reunion". A friend asked if I noticed 'John Doe'. The longer I looked at the guy across the room, the madder I got. Later in the evening I follwed him into the men's room, and while he had tool in hand walked up and asked"John?". When he said yes, I said this makes us even and broke his nose.

I was just trying to bloody it, but some times you get lucky.

Put it on "layaway" if you want, but don't sell a car to friend or foe, on contract, and let them drive off. PERIOD!!!