Question about selling a car to a relative

[4u2nv]

so my mother in law needs a car and im willing to sell her one of mines for a really low price and she is going to pay me monthly, i am thinking about doing an agreement for her to sign, do i make her sign the agreement or take her word and look forward to the payments? let me know your thoughts

 

[returnbama]

I would just take her word, especially if not much money, you know your family better than we do though. Can you trust her?

 

[marcmac360]

Signed agreement....family deals tend to go sour man.

 

[doublejs07]

Put it in writing, broski.

i think i can but i got my guards up because in the past i have done stuff for some family members and when it came time to pay i had to go through hell to get the money

So you know your answer....also, if dealing with family/money was problematic for you in the past...why are you putting yourself out there again to deal w. a potential headache? 

 

[4u2nv]

Originally Posted by ReturnBama

I would just take her word, especially if not much money, you know your family better than we do though. Can you trust her?

i think i can but i got my guards up because in the past i have done stuff for some family members and when it came time to pay i had to go through hell to get the money

 

[bryscooplaygrifhold]

Originally Posted by 4U2NV

so my mother in law needs a car and im willing to sell her one of mines for a really low price and she is going to pay me monthly, i am thinking about doing an agreement for her to sign, do i make her sign the agreement or take her word and look forward to the payments? let me know your thoughts

Don't do it. PERIOD.  Only way this works in your favor is if you do it as a FAVOR- no strings attached.  Whatever money she give you willingly out of her own graciousness is gravy.  Trust me on this one. 

 

[4u2nv]

Originally Posted by DoubleJs07

Put it in writing, broski.

i think i can but i got my guards up because in the past i have done stuff for some family members and when it came time to pay i had to go through hell to get the money

So you know your answer....also, if dealing with family/money was problematic for you in the past...why are you putting yourself out there again to deal w. a potential headache? 

well its my wifes mom and she would help out my mom if it was the other way around but past situations have me thinking

 

[acemaster193]

"Money and blood don't mix like two chicks and no $%^&."

 

[djmano34]

You know the answer.

Do the agreement. You'll feel safer. She'll understand. 
Man up, take control tell her it's like this or no deal.

 

[vendetta]

Make her sign it so you have something official incase things go bad. However, that doesn't mean you have to be strict about her payments. If she misses a month or is short a month you can let it slide until things get out of hand.

 

[asianplayer]

Honestly, I wouldn't sell a car to a relative. Just too much drama involved if something goes wrong. But, if thats what you want to do, I would get her to sign something just in case.

 

[skateboard]

 

[4u2nv]

thanks for the responses yall im just thinking about it because i dont want to come off as money hungry but at the same time the past situations got me on guard, plus i could do with the little money im selling it for cause i barely drive the car that much and its in great condition no mechanical issues

 

[crcballer55]

Your intentions are good, but this has trouble written all over it. If she can't pay for it in full I would refuse to do the deal because family and financing don't mix.

 

[Mark Antony]

Originally Posted by Skateboard

^If it's one thing this woman taught me is to always get it in writing.  Don't do it unless you're willing to take a loss and be ok though, like they're that important to you.  Its too late now though, seems you have to.

 

[odog24]

only way to avoid conflict is give her the whip for free

 

[alleniversonfan01]

Just make her sign something. If she short on a payment or 2 let it slide if you want. But if things get to the point where you not gonna see any money then you got something to back you up. I mean its pretty standard I dont see why she would be pissed about it unless she was looking for a handout and wasnt planning on paying you the whole thing in the first place.

 

[realrubirosa]

The Statute of Frauds requires the sale of goods over $500 to be in writing.