Putting a lein on a vehicle and taking payments

jeepinmatt

#1 WEBWHEELER
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Joined
Mar 24, 2005
Location
Stanley, NC
I've got a truck for sale and have a guy interested, but he doesn't have the cash. Normally I would just say move along, but he offered to pay basically 1/3 down and 6 payments to pay it off. It's my bucket truck, so I know he can make money with it (whether or not I ever see any of it is another issue). What does it take to put a lein on the title in NC and what is my recourse when he doesn't pay?
 
Sales agreement and you keep the title until you have all the cash? I'd think that way it would be legally yours when you try to find it when he doesn't pay.
Says the man with random guesses and no experience...
 
Basically, my understanding is that you would have to take him to small claims court (or civil court, depending on the amount owed), but the title will not be able to transfer until the lein is cleared. Possession of the vehicle is one thing, ownership, is another.

Lein is easy to do. Just fill out that portion of the title. Wife's former mother-in-law put a lein on a car that was supposed to be for my step-daughter un-beknownst to my wife. Needless to say, both my wife and step-daughter were surprised and upset to find out she did it. Lesson learned - once you sign a title, keep it in your possession until it goes to DMV or else unscrupulous people can fill out additional stuff without your knowledge. Joke's on her, though. Car is in my wife's name with her name on the lein. Now that former mother in law wants to sell car, she can't because wife won't sign title out of pure spite.
 
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Like said above if you sign the liens paperwork at the bottom they will mail YOU the title when the other party files transfer . It will have their name on it but mailed to you.

If they default you file a former with the sheriff and get a writ of repossession
 
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