selling a car to a private party on installment? (insurance, loan)

[shalc]

Hi -- I'm curious if any of you know if this is possible in GA and if so how to go about it.

I have someone interested in purchasing a car from me -- paying a large down payment and then the rest in installments. It's a friend and pursuing financing isn't an option for her.

I'm wary of signing the title over without full payment for obvious reasons. So I guess what I want to know is if there's a way for me to be a lienholder in a way, so if the car doesn't end up getting paid off, it can't get sold, etc, but she can register and insure it in her name in the meantime.

Anyone know if this is a possibility and if so, how to go about it?

Thanks

[atltechdude]

I've done this before but like you said the title was not signed over until the full payment was made. I would definitely not compromise on that.

Basically a couple years ago I really needed a truck but all I had was 2k. I found a guy selling one that worked for 3.5k, I have him the 2 and got to use the truck for a few weeks, then went back and paid the final 1.5 and got the title signed over.

It's really not much different for the buyer than when you have a bank loan. You don't get the title until you pay the bank in full.

[shalc]

Thanks -- looking for something a little different -- i need her to be able to register and start paying insurance rather than letting her use it, because it might be a looooong time before shes able to pay in full.