Unless this guy is your best friend in the world I would not do it. What are you going to do if this guy leaves town with the car? Do you know how much time and money it will cost you to track him down and try to repo the car? As long as this person has a steady job and the loan for the car is not more than it is worth then their age should not matter in getting a used car loan.

 

hold the title until the car is sold completely with some sort of written legal document

 

Or dont do it. Fuck that shit, you're going to fuck yourself over with this one.

 

+1
unless you like missed payments, repo, and small claims court.

 

This person is a trustworthy buyer. I've found out a solution to get legal documents - bill of sale for virginia with promissory note, from here http://www.uslegalforms.com/prodpages/VA-00431-C.htm|legalzoom
I still don't know if I will do this but this is at least an answer to the original post. And upon research this doesn't make it completely safe, you still can incur many court costs and lawyer fees if something goes wrong. But thank you for all your input.

 

I dont care what bill of sale you get, when you're out some money because dude dipped out on you and you cant track him down, make sure you let me know so i can laugh in your face.

You're a moron if you do payments to ANYONE other than family, and even then its still a chance of you being an idiot.

 

Alright chill how does this concern you getting all pissed off it'll be okay I promise. My last post was just to close the thread off with an answer to the original problem. A possible solution to my question not the only answer. So in case anyone else has the same exact question.

 

+ a million

 

unless theres a good size deposit being made with a notarized legal document stating that if he/she defaults on a payment then the car is back to you and all if any deposited money stays with you for the sheer inconvenience of a flake. I've done it this way and it works. sucks going through the police to get the car back but once you sign its a done deal, but I have also had it work out real smooth and nothing happened. watch out for yourself cus so many people are out to steal whats not theirs.

 

Unless you're keeping your car in your posession, logic says that you're about to get fucked. NOONE is trustworthy anymore, its not like it was years and years ago when someones word was able to be taken as the fact, people will do anything to get out of paying money nowadays.