20 Legal Mistakes Review

When you’re selling very valuable property like a car, it is very important that a contract be signed by both you and your buyer. The minimum information you’ll want to include is the full, legal name of each party, the car’s description and VIN, the agreed amount and a promise to release the title upon receipt, and the date of the agreement.

If you’re selling your car, accepting a down payment and agreeing to an installment plan could leave you high and dry with a bounced check and a vanished buyer. Unless you’re doing a trusted friend a favor, you’ll want to ask your buyer to consider an auto loan for the full amount when selling privately.


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