you can make good money doing that because you can charge high interest rates. i would just search for some legal documents on the internet, find out what the usary interest rates are for virginia and charge a little less than that. get a decent down payment and go to a bank or somewhere with a notary present when you sign the papers. you might even be able to sell the note for cash later on. i used to know a guy that would buy cars from auctions and sell them on payments. made decent side money with it.

 

I dunno i wouldn't even do family members anymore. If they run in to hard times what you going to take your cousin to court when he/she is already broke?
For real though man it is a bad idea all the way around. Take the advise from people who made the same mistake.
(i didn't i payed dearly when he wrapped it around a tree with liability ins.) yea he was a best friend for 6 years. He made a total of 1,000 in payment on a 13,000 BMW 8 series.