I need a letter if they do not pay for the car.. like i can take the car back?

Question

I need a letter if they do not pay for the car.. like i can take the car back?

Answer 1

I dont really understand what you are asking. I think you need to explain yourself a lot more before we can answer.

It sounds like you need a contract.

Im guessing that you are selling a car to someone and they are paying you off.

What you need to do before you hand the keys over, is to write up a contract, or a bill of sale.

You need to stipluate the following

The date they took delivery of the car.

The deposit paid on the day.

The amount you require them to pay.

How often you require the payment to be made.

The full sale price of the car.

EXACTLY what will happen if they breech the contract arrangements.

What happens to the money they have already paid if you take the car back.

So, for instance., the sale price might be $2000 and they leave you $100. You require them to pay $200 a week, every week until the car is paid off. Any monies paid are non refundable, and if payments are not paid for 3 continual weeks, the car will be taken back, with no contact or question. Upon full payment, the car will be transferred into your name. You should also let them know that they are FULLY responsible for any damage done to the car while it is being paid off, and if the car is crashed, stolen or destroyed, they are still responsible to pay for the car. It is their responsiblity to properly insure the car.

You then need to sign and date the contract, as do they. Take a photocopy of the contract, and keep the copy. Make sure they take the original.

It may also pay to have a witness sign it.

Make sure you keep a spare key in case you need to take the car back.

Personally, I wouldnt do it.

Answer 2

What you want is a general installment sales contract check a local used car dealer and see if you can get one, most are blank as far as lien holder which would be you. The contract and its details are spelled out to state guidelines on the back and you have the right to repo the car if the client fails to make payments.