I want to sell a car on installments on CL... how?

Question

Craigslist has tons of people seeking to buy reliable cars on installment... seems a world of ease to give someone the keys with some sort of contract, and they deposit the money into your account monthly until it is done.
How to do this easily?  And NOT get ripped off?

Thanks :)

Uncle Bo · Accepted Answer

You are just asking to be scammed.   Your idea would be perfect for someone looking to rip you off.

Please describe to us in detail the benefit to you in offering this.   How do you come out ahead?

A contact is worthless if you cannot enforce it.   What will you do if someone takes the car and never makes a payment?   Sue them?   And what, get a judgment against someone with no money?   How does this work for you?

You want easy?   Accept only cash for the car, do the paperwork correctly, and move on with your life.   You aint Mother Teresa.

Stupid Flanders · Answer

I hope you are kidding.  This is the worst idea, ever. 
People who want to pay for a car on installments on CL are either scammers or their credit is so bad, noone would ever lend them money. 
Either way, you don't want any part of it.  

You aren't a bank, you don't have a contract with a licensed repossession company and you aren't an expert in contractual law. 
Stay away from dealing with situations like this, no matter how tempted you may be.

Anonymous · Answer

You aint Mother Teresa.
---

Nor is the OP ANY hint of an FDIC insured lending institution with an army of legal eagles who can sue on a whim...why even try to pull that act, anyway?

$1,539,684,631,121 Clinton Debt · Answer

People will not pay for the car.  It's that simple.  The reason why they need do this is because they don't pay anyone else.

I want to sell a car on installments on CL... how?

4 Answers