STEP 3

THE FACE TO FACE PRESENTATION

The owner will normally want the car out of their name. Their credit is riding on you making their payments. You will need to show them that they are secure and protected in dealing with you. When meeting face to face, it is extremely important that you present yourself in a professional manner. Treat this meeting as you would a job interview. This person is essentially giving their approval of you to assume his $12,000.00 to $17,000.00 investment. Look Sharp .

Once you have seen their car and feel that it is what you want, you are ready to make a proposal. Explain to the owner that you earn a more than enough income to afford this car payment, but you cannot get financing from a bank, because of some credit problems that you hand in the past. Tell them STRENGTHS about yourself that shows your stability and credibility such as:

• LENGTH OF RESIDENCE IN YOUR HOUSE OR AREA
• LENGTH OF CURRENT EMPLOYMENT
• JOB DESCRIPTION OR JOB TITLE
• HOME OWNERSHIP IF APPLICABLE
• THE REASON FOR YOUR CREDIT PROBLEM
• IF YOU PAID BACK PAST CREDITORS
• WHAT YOUR INCOME LEVEL IS WITH BONUSES, FUTURE PAY RAISES OR POSSIBLY A JOB PROMOTION

Describe what makes you a good risk. Let the owner know that you are building their equity in this vehicle, until you pay it off. The more payments you make, the less will be owed on it. Give them a copy of the enclosed credit report, personal references and a copy of your driver s license. Allow them to verify your employment and that you make you rent or mortgage payments on time. Show them a copy of the suggested Assignment Agreement.

COMMON QUESTIONS ASKED BY THE OWNER OR ASSIGNOR AND ANSWERS TO THOSE QUESTIONS:

Question: What if you wreck the car?
Answer:
The insurance company will issue a check with both your name and the lien holder s name on it. This check will be applied towards repairing the vehicle.

Question: What if you get a ticket while driving this car?
Answer:
Any points are charged to my individual driver s license, not to the car.

Question: What if you hit someone?
Answer:
The Suggested Assignment Contract states that I am driving the vehicle, and am responsible for all liabilities. Your liability is limited because I will carry 100/300/50 liability coverage or whatever your Purchase Agreement with the lien holder requires, which will protect you. As the owner of this car, you are put in the same position as an independent leasing company or car rental agency. You own the car, but your not driving it.

Question: How do I know that you’ll make these payments?
Answer: You’ll receive a cashier s check or money order made out to the lien holder at least ten days before your due date. If I m late, you have the legal right to take the vehicle back, believe me I don t want to lose it. The agreement basically states that I will make the remaining payments or pay it off early, as long as I do this you are under contract to sign over the title to me. Nothing hidden, no surprises, it s just fair and legally binding.

Question: Why do my tags stay on?
Answer: You are still the legal owner, just as leasing companies and rental agencies are. I am the one who is primarily liable for what happens while it s in my possession.

Question: What if you move and cannot be located?
Answer: You have a list of personal references, my driver s license number and my social security number, any repossession firm could track the car in a matter of hours. I can understand your concern, but let me assure you that I have no intention of going to jail for car theft.