[bemary53]

Hello I am planning to sell my car in California. I own the car with a clear title. I may allow the buyer to pay part of the asking price upfront and make payments for the balance due. How do I handle this with the title--Am I still considered the owner of the car until paid in full? How do I protect my investment if the buyer does not pay me all the monies due? Thank you

[smoothy]

I wouldn't give them any paperwork OR the car or its keys until its paid in full. It would sit in my driveway until the last dollar is paid.

Otherwise you are assuming a great deal of risk and cost...

THey may wreck it... then may decide to stop paying... and you will have to go through a lot of trouble and expense to even find the car much less get it back in once piece.

I've known too many people get burned doing it any other way.

But also have a written contract stating that nay money paid will not be refunded in the event they do not pay for everything in full in the given period.. and establish late fees... otherwise they might drag their feet for a long time paying when they feel like it.


You can simple put a lien on the title... but if they fail to pay it's a major hassle to find and reposess the car ( not to mention the expense). And why I would do it the way I said.