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The security is the car. What if the motor blows or the car is not maintianed? What if the buyer does not have insurance and wrecks it? There goes the security. What if someone is injured and the seller is considered to be the owner of the car? That's $15k in personal exposure (in CA) right there. Lots of risk with little upside. As a buyer it's great, but good luck finding a non-relative seller willing to finance the sale.
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Why do things that happen to white trash always happen to me?
Got nachos?
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