Cash Hash » Cash Hash » Cash For Cars » Sister selling me car , Contract Advice?

  #1 ()
: So my sister is selling me her car, and we are going to finalize the contract and I wanted to see if maybe there is something I could add to the contract so far we have
·Monthly payments of 100 + 90 for car insurance
·if I babysit my niece every hour is 10 & goes towards my car (which takes off from total cost of car)
·late fees for late payments
Again we are still ruffly putting it together , and just wondering if their is anything major or little I should add.
(Please no smart ass comments)

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  #2 ()
: Yes, your sister pays in cash ($10 an hour).
When you have enough money to purchase the car, you don't create a deal with your sister for the car.
If your sister sells the car to someone else before that, you find another car to buy.

It's not good to mix family and business. Stay away from this transaction until you are just like any other buyer. She wouldn't take payments from some random person.
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  #3 ()
: I will say if you babysit ask her to pay you cash and then when the payment is due you will make the payment at once so this way its not confusing for you and her and make each other life easy. You should write $100 monthly and for X about of time.

Did she wrote what will be late fee amount have you discussed that.

Have you got the car checked to see if there any issues.

Car insurance is she adding your name to her insurance? I will suggest get your own insurance.
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  #4 ()
: The car should be sold 'as is', for cash, and documented with a simple bill of sale. Don't finance this car with a family member if you want to remain on speaking terms with her.
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