Selling quad to neighbor

[THORrider350]

Hey just wondering if anyone has ever done this. I am selling my quad to my neighbor/buddy he is putting 500 down and then making 5 payments of 500. He is 30 yrs old and reputable just wondering if there is anything special i should do. The quad is being sold with a bill of sale no title.

[wild250rman]

get everything in righting do not leave anything to chance. good reputation or not. better yet leave it set until paid in full you are not a bank or a dealer.

[BuB400]

Bad idea,trust me. I have tried this a couple times. You are not only a bank and dealer,but you are also the repo man.

[CJM]

Draw up a notarized letter stating he will pay and both of you sign it. Make sure it reads like a contract, that you can repo the quad if he doesnt pay or he faces legal action.

[fastredrider44]

Don't let it leave your garage until paid in full. I've also had to be a banker and repo man, and it's not worth it. Better to be a dick with a fourwheeler in your garage than a nice guy with no money for a fourwheeler that you "sold".

[250rAL]

Tell him to save the money. When he has the full amount saved, the transaction can take place. Tell him you'll save it for him for the agreed amount of time. If he doesn't have the money at that time, you aren't obligated to save it for him any longer.

[trx310R#24]

Originally posted by fastredrider44
Don't let it leave your garage until paid in full. I've also had to be a banker and repo man, and it's not worth it. Better to be a dick with a fourwheeler in your garage than a nice guy with no money for a fourwheeler that you "sold".


TIMES 2!!!!!!!!

[quad59]

Plus when it breaks and he has not paid for it yet he going to be like "WTF" this thing is junk. Don't let him have it till its paid in full.

[Kickstarts-suck]

Not a good idea.. Did this before with my boat I had.. Sold it to a really good friend of mine that I had known for a long time..

Well Ill just say we arnt friends anymore. :grr:

[PaRedneckRiders]

Ya ive sold many different bikes and quads and i never deal with payments.
Ive sold two to good friends of mine and wouldn't even take payments from them.

If he wants it that bad he will save his money and buy it when he has the cash, or he will find something else he likes and buy it instead.

Payments just seem to be way to sketchy, They may seem like a nice guy but in the end they could still screw you over just as bad as someone you dont even know.
I lost a couple of what i thought were good friends through stupid things like that.

[chucked]

I wouldnt give it to him till its paid in full. Been there before.

[C41Xracer]

i did something similar to what your neighbor is doing, write up a contract with a $500 non-refundable deposit and final pay date to when all the money will be paid to you. Dont let the quad leave your garage either until paid in full no matter what the guy says