Payment Plan over Cash for your 240?

[Sonikfuri]

Hey guys,

This is something that's come up with me trying to sell my coupe. I've had quite a few people (teenage kids and grown folk alike) ask me if I'm willing to take payments, and I've been iffy about it. I understand with times being rough, and people not being able to get loans (and I love the thought of helping someone out that'll treat my baby well, haha) but I can't help but think about the chances of getting screwed over...worst part is that payments is how I got MY car.

Your thoughts on doing payments for someone over cash

[Kouki KAT]

Sounds sketchy. Get collateral.

[Sonikfuri]

^ That's what I'm thinking. That and include in the bill of sale that there's payments.

[mattblancarte]

Lol are you serious? No.

[bersh240]

you mean like they make payments and when its fully paid you sign the title over?
or.. you do all the legaly stuff... guy drives off with car promising to send you checks every month?

[Sonikfuri]

The first one, as in they make payments and when it's fully paid I sign it over.

[danield319]

if they cant afford a 240 how do they except to keep up maintenance?
i wouldnt take a payment plan, because your almost certain to get sob stories about why they cant pay this month and such

[Coombs]

Maybe you could set up a Paypal transaction monthly with a bill of sale of something of the like until the car is paid for in full. Instead of holding the title though, I would just hold the key. Cash in hand is most definitely the way to go though.

[hbpignosePA]

no

hold the title

if you sign the title over your a complete idiot

but what others have said.

if you need a loan for a 240(even a "built" one), obviously its not something you should buy

[White Comet]

a few years ago a sold an nx1600 to a kid who wanted to make payments. there was something we did when i signed the title over that was basically putting a lien on it. he gets the car and makes payments and the bank holds on to the title til he's paid it all to me. i also had him sign an agreement with the details of it all. worked fine for a while then he dropped off the planet, was never at his house when i went to collect, his phone was disconnected etc. long story short he still owes me $300, but he can't sell the car ever without having to contact me for the title which i wont give to him. i tried to track him down but just couldnt and frankly he paid my asking price of 2700 for the nx which is more then its worth so i'm still fine with it

[240sxjoe92]

Yea ide say dont do it...There's my 2 cents

[sancosys]

Seriously go for it! I joke. Don't do that.

[OM3GA]

Do it if you can keep the title, i have had to help a few people out with that. Basically you write 3 papers saying you are selling the car to blah blah blah with an initial down payment of blah blah, and you will hold the title until the entire thing is paid off. You both sign each paper along with a whitness and take pictures to document things.

It's not that bad, otherwise sell it to someone you know well.

[White Comet]

but then they crash the car and cant be contacted ever again and you have a totaled s13 and the title

[Funano]

DO NOT DO IT... seriously how much are you selling it for? If people don't have at least a couple thousand bucks to spend on a car, then they should'nt be buying one yet.

[Coombs]

DO NOT DO IT... seriously how much are you selling it for? If people don't have at least a couple thousand bucks to spend on a car, then they should'nt be buying one yet.

Excellent point. I'd be a little sketched out at the whole idea to be honest.

[S14toRPS13]

Exactly, 240's are cheap and if someone isn't able to save a few thousand dollars for a 240, then they won't be able to make the payments either. Mind you these are also old cars and needs a bit more maintenance than newer cars. If the 240 should break down on them, they'll be even more less likely to keep paying for a broken down car.

[KYZAAC]

Don't put yourself in that situation man, I know where you're coming from when you say you want to help somebody out, but it seems like everybody is trying to screw somebody over one way or another these days, I could see 10 years ago when your word actually meant something,but I wouldn't take the chance today

[Demonspeed]

I think payment plans are okay as long as you do them the RIGHT way. When I bought my first car, I did payments but the owner wrote down everything AND got it notorized so it was an offical document..that way, if I didn't hold up my end of the deal he could take me to court.

So yea, do it like that...you'd be a fool to just take his/her word and give them the key or title or both.

So ummm...is this a coupe cuz I need a coupe and I can make payments lol

[dre1507]

do you really need to sell it now........cause if you don't, i say you hold on to it, for 2 more months and i'll buy it off ya cash moniez style.......yo. i kid, i kid.

[Kelbizzle]

Don't take a payment plan. Either pay in full or not at all. Tell them to stick their down payment and their paychecks into an envelope and comeback when they have your asking price....

Better yet....sell it to me with a lien on the title, I'll disappear, and turn up in Formula D with your car!

It's not your job to finance other people's hopes and dreams.

[r34 gtr]

What kind of hack can't scrounge the money to buy a s-chassis? Not like they are expensive. I paid for my first car by myself, I just worked my butt off at a terrible job for 9 months. Beware of lazy chumps who can't be bothered to show up with at least close to your asking price.