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  1. #11
    Join Date
    Mar 2013
    Posts
    17,135

    Default Re: Can I Put a Lien on a Vehicle I'm Selling

    Quote Quoting jk
    View Post
    oh holy cow. If I had only checked.
    Yeah, I didn't catch it until message number 5.

  2. #12
    Join Date
    Sep 2011
    Location
    OH10
    Posts
    17,019

    Default Re: Can I Put a Lien on a Vehicle I'm Selling

    What is your plan if he moves to Washington state or blows up the engine/tranny for lack of maintenance?

  3. #13
    Join Date
    Dec 2015
    Posts
    14

    Default Re: Can I Put a Lien on a Vehicle I'm Selling

    Quote Quoting Disagreeable
    View Post
    What is your plan if he moves to Washington state or blows up the engine/tranny for lack of maintenance?
    Good point. What would happen in a leased vehicle?

    - - - Updated - - -

    Quote Quoting adjusterjack
    View Post
    Oh, right, you're the one with the clever business idea espoused in
    I wish I could take credit for it, but another company has already been funded and launched. It is backed by Mark Cuban. https://www.joinbreeze.com/ They've had such strong traction over the past year that Uber will be testing a similar program with their drivers.

    Funding:
    https://www.crunchbase.com/organizat...eeze-4#/entity

    - - - Updated - - -

    Quote Quoting jk
    View Post
    A promissory note is a promise to make payments as contained in the note. It is not a secured debt.
    It seems like a promissory note can be secured by collateral. https://www.rocketlawyer.com/documen...issory-note.rl
    https://www.legalnature.com/article-...gally-binding-

  4. #14
    Join Date
    Jan 2006
    Posts
    38,728

    Default Re: Can I Put a Lien on a Vehicle I'm Selling

    Breeze is not the same business model you described in your other thread.

    I'm also not going to explain the difference between a promissory note and a security interest contract. You have all the answers so it would be a waste of time for me. Calling an apple a peach doesn't make it a peach.

  5. #15
    Join Date
    Dec 2015
    Posts
    14

    Default Re: Can I Put a Lien on a Vehicle I'm Selling

    Quote Quoting jk
    View Post
    I'm also not going to explain the difference between a promissory note and a security interest contract.
    The differences are mentioned here http://www.nolo.com/legal-encycloped...r-the-ucc.html and here http://smallbusiness.chron.com/promi...ent-70210.html

    It is also mentioned here http://www.city-data.com/forum/personal-finance/440229-selling-car-owner-carry.html

    Thanks for all replies and keep them coming!

    - - - Updated - - -

    Quote Quoting jk
    View Post
    Breeze is not the same business model you described in your other thread.
    What's different?

  6. #16
    Join Date
    Jan 2006
    Posts
    38,728

    Default Re: Can I Put a Lien on a Vehicle I'm Selling

    The business model.

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