Car selling dilemma....not sure what to do

[dead_95tsi]

I bought a riced out prelude from my friend 2 weeks ago for a rediculously low price with plans on selling it for some profit. I went to get the title transferred last friday and was given a pink slip for temporary registration. Well as it just so happens, this week a kid I know offered to buy it for a very, very, very good price. He has the cash and wants the car asap. Well here's my problem.... I'm not sure how I can sell him the car until I get the actual title back. I called up the notary and they told me that I should be receiving it in 2 to 5 weeks?! I really want to make this deal legit with the kid before he thinks twice and backs out of it. What can I do? Is there anyway around this???

 

[halik008]

nope nothing u can do. Legally w/o the title signed over to him, he doesn't own it.

But damn 2-5 weeks?? Something wrong with ur states SOS. It's 7 business days here in MI.

halik

 

[carwizard1]

I had the same problem so I just let the guy drive on my temp plate untill the title got here. He paid me in full and singned a contract stating that he had purchased said car and waived me of all resposibility of said car, and that we we waiting for the title. Worked out great I got my money he got the car.

 

[dead_95tsi]

I had the same problem so I just let the guy drive on my temp plate untill the title got here. He paid me in full and singned a contract stating that he had purchased said car and waived me of all resposibility of said car, and that we we waiting for the title. Worked out great I got my money he got the car.

This seems like a very good idea but is it actually legitimate? Lets say the worst happens...will this contract hold up in court?

 

[Defiant]

Hm.

All it takes out here is a Release of Liability, and the new guy's ass is on the hook if he crashes it- which, after getting paid, is your main concern. They don't use Notaries out here for most car stuff.

States are just weird.

 

[Demagosos]

out of curiosity, if u dont mind, what is "cheap" and "a really good price" (numbers)?