[aqualung8705]

Things are working out with this deal, and he's agreeing to the terms. One new stipulation is that along with the money to push back the loan for one month, he also gives me the money for rent for next month. That'll give me a little more breathing room in finding a job.

JFK: I haven't been to lodge in a month, no gas.

[airics]

take it from a guy in the business aqua, you're getting shafted.. you are letting someone drive your truck for 800 bucks that will hopefully pay you back.. so how are you going to do the title work.. in his name with a lien? who's paying the tax and registration... and what happens if the truck breaks down or gets wrecked? he gives it back to you and doesnt pay for it....

[aqualung8705]

The title remains in my name until he pays what he's buying it for me off. He's responsible for any damages or repairs. It's still registered in my name, and will be until all payments are made. If he misses or is late with a single payment, I get my truck back. I know that it's not the best deal in the world, but it's all that I have, and I don't have much longer, or I'll lose my truck.

[airics]

thats even worse and is illegal, if he gets in a wreck the owner is responsible...

[airics]

to make it legal, you can take the money and get your title back, then go to the dmv, "sell" the truck to him and put you as a lien holder.. do not reduce the price of the truck for tax purposes.. then he pays tax and registration..you will need to make up a security agreement and bring it to the dmv.. get all his information (where he works etc) since you may end up hiring a repo company to go get the truck.

[aqualung8705]

Thanks for the info, airics. I'll pass this info on to my brother in law, and see if we can make it work.

[jjameson922]

Exactly the point a few of us were trying to make Airics. You know the way to do these things. The only thing I could think of was, let the buyer make the required payments but do not hand over the truck until he has paid up. I'm certain this deal, going any other way, would end up another sad story.

[PinkString]

It should be a good learning experience at least.

[airics]

inquiring minds want to know, so what happened with the truck?

[aqualung8705]

Nothing happens until tomorrow. I've got comp tickets to see Crazy Horse Paris tonight, and Zumanity and Fantasy next week. It's one of the few times that pain in the arse sister is worth more than a headache.