Info on selling my boat.

[Jeff1229]

Hey guys, i have a question on a situation that maybe someone in here has encountered before. I have a 1997 Seadoo Challenger that I'm selling. Its been a long unsuccessful selling period. I've listed it locally, on e-bay, craigslist, here, etc. But no luck yet. I finally got a call from a guy that wants to buy the boat, but he can only make payments. I'm asking 5500.00, and he says he can pay $500.00 a month, so that would be 11 months. The thing is that I've heard horror stories about people getting burned on deals like this. I dont know the guy, from the way he sounds, it sounds like a serious guy with a family, and basically wants the boat to take his family tubing and stuff like that.

What i was wondering is if there is any way of doing it, that would protect us both, like the courthouse, or a company that would hold on to the title, until he's done paying it. So i was wondering if anyone has ever dealt with anything like this. I'd appreciate any help. Thanks

Jeff

 

[kustomkarl]

Banks are banks for a reason...

Well Jeff, I did this same thing with a friend when I was 19. He wanted my Motocross bike that I raced for 1 season. I bought a new one every year from my sponsor at less than cost and it was mine to do what I wanted after the years use. He had no credit established, and worked as kitchen help so I knew I would be paid. He took the bike with $250.00 down and 100.00 a month toward the $1200.00 selling price. I held the paper till it was paid for... the story goes bad after he beat the heck out of it, and wrecked the bike after 3 weeks. He literal just ran it in the ground and it looked like it was 10 yrs old. He than told me he wasn't gonna pay for a bike he couldn't ride... This wasn't a good thing. After lots of inquires about what I should do, I told his parents of our deal and they paid me after I threaten going to court, like 3 months later. If I knew that a friend could do this I wouldn't even think about a stranger would do! We ain't banks and we can't insure something if it goes wrong, so have him get a loan, and move on. Other wise your on the short end of the stick if something happens. Think about what you have to do if you want something. Banks are banks for a reason, don't open yourself up for a problem.

This is just my personal experience and opinion.
Karl