Does a lawyer need to be involved with a used car sale between 2 folks when the seller is self-financing it? -

I m hoping someone who knows law sees this question. Both parties in this car sale,will be signing a typed contract with the terms spelled out: the payment, the due date, the interest rate, the # of months, the amount financed, etc. But, does this contract have to be run through a lawyer in any fashion to be legal or will it stand up in court without involving one?

NO! A contract for an auto is binding in court. I would do several tings to protect the seller and the buyer. 1. Get copies of drivers license. 2 Get copies of current insurance (Liability, comp and collision) 3 Add affidavit stating insurance must be current at all times 4 List yourself as lienholder on back of title. 5 File title with state 6 Sign all papers at the BANK in front of notaty this holds up in court (the bank gives you and buyer security when exchanging money)

I would definitely think so. A cheaper route would be having a paralegal review it. Once you have signed it, it is definitely a binding contract.