My fiance and I are trying to sell one of our vehicles. It is a 2006 Chevy SS. We just recieved a call on it. This man is telling us that he is in the process of getting a divorce and that he doesn't want anything in his name. So he wants to make a contract and get it notarized that he will take over payments but that the loan will remain in my fiance's name. Will getting a contract notarized clear us of any responsibility? To me it sounds very shady. But we want to get rid of this truck because we are falling behind financially. Thanks in advance for your help.
2007-08-15 07:06:20 · 6 answers · asked by Anonymous in Cars & Transportation ➔ Buying & Selling
Don't do it. It is a scam. He drives off with the truck and you won't find him. Most leases and loans have a "no assignment of interest" clause buried in the contract. It means you are still liable for payments if you assign the vehicle to someone else. Further, liability insurance follows the vehicle so you would have to buy coverage and name the buyer as an insured, or he won't be covered for liability claims, and your insurance would get canceled.
2007-08-15 07:14:50 · answer #1 · answered by regerugged 7 · 0⤊ 0⤋
You would probably be committing fraud on one level or another he could easily put it in the name of a friend or family member.
Conspiracy to commit fraud would be a lot more serious than doing it he could end up making trouble for you.
2007-08-15 14:18:36 · answer #2 · answered by robert h 3 · 0⤊ 0⤋
as long as the car is in your fiance's name he is legally responsible for the car if this other guy wrecks it or robs a bank with it
2007-08-15 14:15:36 · answer #3 · answered by marfanman00000 5 · 0⤊ 0⤋
Don't do it. Find another seller. Trust your gut.
2007-08-15 14:12:34 · answer #4 · answered by dmc 3 · 0⤊ 0⤋
You do that...and you will get fcuked!!!! BIG TIME!!!
Run...run away FAST!!!
2007-08-15 14:12:09 · answer #5 · answered by Anonymous · 0⤊ 0⤋
dont do it
2007-08-15 14:12:39 · answer #6 · answered by ff2307 3 · 0⤊ 0⤋