m3911t

Need advise fellow board members:

I have a guy who found me through this board that wants to buy my car. I have talked to them and they are very nice. The person they found me through is an established board member here. The problem I am having is that they want to sublease my car from me until they get proper financing on the car. In other words, they want to assume delivery of the car and pay me up front for one months worth of payment and sign a contract saying that I give him 30 days to find financing for the car. Is this a good idea or not need feedback

I also need to know if this is not a good idea, how or where can my guy get financing to take over my lease as I am not the person he would be paying off, rather its MB Financial.

Thanks a million
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AMGfan

I don't think I would feel comfortable with that situation. They could have an accident and not want the car then and you are stuck with an F'up car to sell. It may not happen but you never know.

Jon

j_belll

i think if u can trust them enough, u should do it only as long as the contract is very professional and very detailed (just like a legal document) that way if anything were to happen on their behalf, the legal binding contract will save u.

amdeutsch

DON'T. If I understand it correctly you are still liable if something were to happen because the contract with the leasing company is between you and the leasing company. They would care less if you rented it out for a month or not.

duc&tlrsammy

X2 X3 X4 X5 I agree! DONT DO IT. Your insurance probably will not cover the vehicle with this new driver under your 1 month sales contract thingy. His insurance probably will not cover the vehicle either because he does not legally own it. And also, other than this board, you dont know the guy. There are good board members, adn there are also bad ones.

Isnt there some type of companies that will hold the vehicle for you until all the terms of the sale are done with? That way, you dont drive the vehicle and risk damaging it, and the new buyer doesnt risk anything happening either.

markdm3

Bad idea, go through your finance company and arrange a transfer. They can assume responsibility of the car legally and refinance when themselves. Huge Mistake to do it.