HOW TO DRIVE ANY NEW CAR WITH NO MONEY

HOW TO DRIVE ANY NEW CAR WITH NO MONEY

DOWN AND NO CREDIT CHECK

INDEX

INTRODUCTION

A. Steps

1. Where to Find The Vehicle of Your Choice

2. Making the Initial Contact (Common Questions and Answers

Included in Steps)

3. The Face to Face Presentation

4. Closing the Deal

5. Paperwork and Insurance

B. Definitions

C. Suggested "Assignment Agreement"

D. Telephone Information Sheet

E. Assignor/Assignee Responsibilities

Power of Attorney

Application Information

Personal Reference Form

Uniform Commercial Code, Article 9, Section 311

INTRODUCTION

THE CONCEPT:

PROBLEM:(A) A person has a car he no longer can afford.

May be about to be repossessed.

PROBLEM:(B) Another person has a "Bad Credit" history

and cannot buy a car, but can well afford to make

the payment on a recent model vehicle.

SIMPLE

SOLUTION:(C) Put these two people together. Person(B)will

assume person (A)'s payments and insurance.

NEW COMPANIES EMERGED

A few years ago an industry emerged that served the needs of

individuals who have had past credit problems, but can now afford

monthly car payments. These COMPANIES helped people with

PAST CREDIT PROBLEMS SUCH AS:

Bankruptcy

Repossession

Judgments

Divorce

Medical Bills

No Past Credit History

Late Payments

Many Other Problems

These problems are held against these individuals by lending

institutions for up to seven years.

WHAT THESE COMPANIES DO:

These companies would find vehicle owners who can no longer

afford their monthly payments. These owners would gladly allow

someone to take over payments on their vehicle in order to save their

credit, with NO CREDIT CHECK.

SAVE $1,500/$3,000:

These companies charge the Buyer/Assignee between $1,500.00

and $3,000.00 for their services just to put these two parties together,

WITHOUT DOING A CREDIT CHECK. THIS INFORMATION

PACKAGE gives you all THE SIMPLE SECRETS on how these

companies perform their services.

You can SAVE the $1,500.00 to $3,000.00 fee that they would

typically charge.

PERSISTENCE:

With your PERSISTENCE and this INFORMATION PACKAGE, you

can get the recent model vehicle(1993-1995) THAT YOU WANT,

without paying any FEES or DOWN PAYMENT.

(NOTE: This information will not assist you in going to a new or

used car dealership to get a car. This information is intended to

target individuals wishing to sell their vehicles to an individual

buyer, ONE ON ONE.)

WHAT ARE SOME OF THE SELLER S DIFFICULTIES:

Ideally, these sellers would like to sell their vehicle for the

bank payoff amount. Several factors may be preventing them from

doing this:

A. They have high mileage.

B. They are unable to show their vehicle to a prospective buyer

(because of work, school or other conflicting situations).

C. They are in an area experiencing a soft used car market.

D. They put very little money down when they bought car and

still owe more than the book value amount indicated.

E. They financed their car for a long period of time (60-72 months)

and have not built enough equity in the vehicle.

F. BUT, THE BIGGEST REASON IS; they cannot sell their vehicle

because they simply OWE MORE ON THE VEHICLE THAN THE

VEHICLE IS WORTH.

WHAT ARE THE OWNER'S CHOICES:

Traditionally the owners choices are EXTREMELY LIMITED:

PAY THOUSANDS OF DOLLARS -

A. THEY can sell their car for market value, then pay the lien

holder the difference of what they owe, IN CASH. This could cost

the owner several thousands of dollars up front, or

-REPOSSESSION-

B. THEIR second choice, which has recently gained in popularity,

is letting the car go back to the lien holder (REPOSSESSION).

(If the dreaded REPOSSESSION choice is used, the owner will

seriously DAMAGE CREDIT for SEVEN YEARS.) YOU AND THE

OWNER CAN HELP EACH OTHER You help them by taking over

their monthly obligations (car pay-ments and insurance), and the

owner helps you by putting you into a recent model (1993-1995)

vehicle. You both help the lien holder because you will be making the

payments on time and the lien holder will not have to take a big loss

on the vehicle by REPOSSESSING it.

SUGGESTED ASSIGNMENT AGREEMENT

The Suggested Assignment Agreement included in this information

package is a SUGGESTED AGREEMENT ONLY. There may be

provisions added or deleted to the agreement between you and the

assignor (owner) to make the transaction acceptable to you both, but

REMEMBER, IT IS INTENDED FOR YOU TO USE AS A

GUIDELINE ONLY.

The ASSIGNMENT AGREEMENT IS BETWEEN YOU AND THE

OWNER OF THE VEHICLE. THE VEHICLE REMAINS TITLED IN

THE OWNER'S NAME UNTIL ALL PAYMENTS ARE MADE AND

THE ORIGINAL LOAN IS PAID OFF.

At this time, according to your Assignment Agreement with the

owner, they have to sign the title over to you within thirty(30)

days after the car is paid off.

LIEN HOLDER PURCHASE AGREEMENT

This type of transaction is very common with Real Estate.

Typically, the owner of a house will rent their property and

still be solely responsible for the monthly mortgage payments.

The payments are being made even though the owner is not living

in the house. The renter has a contract between them and the

owner, not involving the mortgage company YOUR SUCCESS IS

GUARANTEED. Some purchase agreements from the lien holders

may have provisions against subleasing or assignments, claiming it

would be a default-of contract. Many disregard this provision

and do not contact the lien holder for their approval, claiming

that as long as the payments, insurance and vehicle maintenance

were maintained, the assignment of the vehicle would fulfill the

lien holder's requirements, and it would not be necessary to

inform the lien holder of the transaction. We recommend that you

contact the lender in writing to inform them about your agreement.

YOUR SUCCESS IS GUARANTEED

Using this system, an individual can obtain a vehicle on merits

such as character and ability to pay, rather than credit history.

There are NO TURN DOWNS . Everyone qualifies because A

CREDIT CHECK IS NEVER RUN. YOUR SUCCESS IS

GUARANTEED.

REMEMBER, you must be PERSISTENT, make several calls, and

always project a good image over the telephone and in IT IS NOT

OUR INTENT TO GIVE LEGAL ADVICE: This information is not

intended for purchasing a vehicle from a new or used automobile

dealership. It is not our intent to give legal advice. Each state has

different laws. If you have any questions pertaining to State or Local

requirements, contact your State Department of Motor Vehicles or

your attorney.

UPSIDE DOWN OR NEGATIVE EQUITY:

Let us take this opportunity to explain what is meant by Upside

Down or Negative Equity. Let's use the following as an example:

Say the owner of a car owes $12,000 to the bank for the

PAYOFF of his car. The AVER-AGE RETAIL VALUE of the car (what

a car lot would sell the vehicle for) is only $10,000. If the

vehicle is selling at a car lot for $10,000. few people would be

willing to pay them the $12,000 that they owe. The LOAN VALUE on

this car (what the bank will loan someone with good credit) may

be only $8,000. This means that if a person with good credit

wanted to buy this car for $12,000, they would have to borrow

$8,000 from the bank and would have to come up with another

$4,000 in cash to satisfy the lien holder.

EXAMPLE:

Payoff to Lien Holder $12,000

Average Loan Value $ 8000

Average Retail $10,000

Difference (in cash) $2,000 or negative equity

The seller will have a difficult time finding someone who is

willing and able to put $4,000 in cash down for a used car. A

buyer with good credit can o to a dealership and get a new

vehicle with only a few hundred dollars down. So, the chances

of the owner selling the car to a person with good credit are

very slim.

By explaining (Upside Down, Negative Equity) to the owner, you

will let them know why they are having problems selling the car

and that they may only have three (3) options left at the point.

Those options are:

Option #1 Sell the car for market value of $10,000 and pay the

bank $2,000 out of their own pocket.

Option #2 Turn the car back to the lien holder for REPOS-SESSION

and NOT pay the lien holder the difference of $2,000. This option

will ruin the credit status of the owner for seven (7) years.

Option #3 Or they can let you assume their responsibilities of

payments and insurance, save their credit status and not have to

pay the negative equity of $2,000.

THE STEPS LISTED ARE THE "FIVE (5)STEPS" YOU WILL NEED

TO FOLLOW CLOSELY

STEP 1

WHERE TO FIND THE VEHICLE OF YOUR CHOICE

Auto want ads in your local newspaper, auto trader advertising

magazines, or any other publications that list vehicles for sale.

(NOTE: Finding an individual who is upside down or in a

negative equity situation on their vehicle loan is easy. Most

cars within their first three years of their finance contract are

in this situation. YOU MAY EVEN HAVE A FRIEND OR FAMILY

MEMBER IN THIS SITUATION. IT GOES WITHOUT SAYING THAT

A FRIEND OR FAMILY MEMBER WOULD BE IDEAL UNDER

THESE CIRCUMSTANCES).

NADA BOOK (NATIONAL AUTOMOBILE DEALERS

ASSOCIATION)

Your local library will carry a NADA book. This book will give

you the average retail price of any particular car model. The

NADA book is published monthly. It also gives you the amount that

most banks will finance on those models. If the payoff amount on

a car is more than the NADA retail book value, then you will

know this seller is in an UPSIDE DOWN position and will be

very interested in talking to you.

THE EASIEST PEOPLE TO WORK WITH:

The easiest owner to work with is one who is considering

letting their car go back to the lien holder for REPOSSESSION.

You can find these owners in your local newspaper or local car

magazine. Best results are obtained in aging these issues for

two or three weeks before calling. The owners will always

become more flexible the longer they try to sell their

vehicles. If you focus on ads proclaiming Take over payments

or Down and take over payments . These are individuals who

realize that they are in a NEGATIVE EQUITY SITUATION and can't

sell their vehicle outright. Even though their ad requests

a down payment, they will almost always waive it.

Most lenders who recommend to the seller, that they find

someone to take over their payments, will still hold this

individual liable for the payments if there is a default.

Many of these enders will request an application to be

submitted from the assignee.

If the seller (assignor) has been making their payments on

time, the lien holder may want to keep them in this vehicle.

They will want the assignee to have a stronger credit rating

than the assignor, before they will give their approval at all.

Traditionally, the COMPANIES mentioned earlier do not even

contact or go through the lien holder. Claiming that whether

an application is submitted or not, the assignor still remains

liable for the payments.

This arrangement allows the owner to monitor their own payments

so they are actually more secure, as is the lien holder.

The companies contend that under the Uniform Commercial Code,

Article 9. Section 311, that the owner of a vehicle has the right

to assign their property regardless of provisions in the original

purchase contract by the lien holder, that might claim such a

transaction to be in default. The lender will always hold the

original owner primarily liable for payments. Even though the

payments are submitted by the assignee, the lender will still

acknowledge the assignor/owner as the driver and owner of the

vehicle. The reason being, the assignment agreement is between

the assignee/buyer and assignor/owner, and not the assignee/buyer

and the lender.

STEP 2

MAKING THE INITIAL CONTACT

When you have identified several cars that you have an interest

in, you are ready to make the INITIAL CONTACT with the owner.

Throughout this conversation your goal will be to find out if the

owner is in a NEGATIVE EQUITY POSITION (or upside down) on

their vehicle. Best results are obtained if the owner is just asking for

what they owe on the car.

A TYPICAL PHONE CONVERSATION MAY GO AS FOLLOWS:

Caller:Hello, I m calling about the car you have advertised

in the paper. Is it still for sale?

Owner:Yes, it s still for sale.

Caller:Can you tell me about it, what color, mileage,

options, etc. , (reference TELEPHONE INFORMATION SHEET).

Are there any nicks or scratches?

Owner:(The owner will normally give you all the

information, except for the price of the vehicle.)

Caller:How much are you asking for the car?.

Owner:$12,188.00

Caller: Is that what you owe on it?

Owner: (Answer) Yes or No

Caller:(If the answer is Yes , ask how long have you

been trying to sell the car) The reason I'm asking these

questions is because I would like to take over the payments

on this type of car . How much are your monthly payments?

(Try to get a feel for how badly they want to get out of

their car. If this vehicle sounds appealing to you, and you

sense the owner is flexible, set up an appointment to look

at the car).

(If the answer is No, the owner may have put a large down

payment on the car, and it may not be in a NEGATIVE EQUITY

SITUATION, or they may not owe anything on the vehicle at

all.

BE PERSISTENT:

You will typically have to make twenty or more phone calls to

find a vehicle owner willing to assign their vehicle. One very

important thing to remember, BE PERSISTENT , keep calling.

There are thousands of desperate people needing to get out of

their vehicles in every area of the country. It's also a good

idea to call the owner back a week or so after your first

contact. The longer they see that they can't sell their vehicle,

the more eager they will be to work with you.

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.

STEP 4

CLOSING THE DEAL

Once you have satisfied all the owner s questions, and have

subdued all fears., you need to get a commitment. If the owner

will not commit and wants to think about it, find out when the due

date is for the next payment. The closer they get to the next

payment, the more flexible they will become. If the owner remains

undecided, you may try offering them concessions. You could

offer to make a whole payment or two payments in advance. They

may request some kind of security deposit, which would be held

for damages. At this point, be creative and willing to empathize

with the owner's concerns.

STEP 5

PAPERWORK & INSURANCE

LIMITED POWER OF ATTORNEY This form needs to be signed by

Assignor and notarized by a Notary Public. It gives the Assignee

the authorization to sign on behalf of Assignor in matters

concerning the vehicle. (To be attached to registration)

SUGGESTED ASSIGNMENT AGREEMENT The provisions

recommended in this agreement are meant to protect both parties.

Individual concerns not covered, they can be added while others can

be deleted. This agreement is only meant to be a guideline for

constructing your own finalized contract.

CREDIT INFORMATION SHEET The Assignor will need some

information on the Assignee just for his protection.. If the Assignee

does not make payments, Assignor will be able to rum this

information over to a repossession firm on the Assignee just for his

protection. If the Assignee does not make payment, Assignor will

be able to turn this information over to a repossession firm to

retrieve the vehicle.

INSURANCE Insurance regulations differ widely from state to state.

The simplest and most widely accepted structure for this

arrangement is as follows:

List the owner as primary insured and assignee as additional

insured. The loss payee will always be the lien holder. The policy

address can be that of the assignor or assignee.

Insurance can remain on the existing owner s policy by just adding

the assignee as an additional insured. The owner may prefer to set

up a new policy so that the assignee s driving record will not

affect the rates that they pay for their other vehicles.

Recommended liability limits of 100,000/300,000/50,000 (100,00

maximum limit of liability per persons, 300,000 maximum limit

liability for all persons per accident, 50,000 maximum limit

of liability per accident for property damage). These higher

liability limits normally will account for a minor increase in

rates.

If the assignor has a poor driving record, that would make your

insurance premiums prohibitive, you do have some options. Some

insurance companies will allow you list the Assignee as Primary

Insured and the Assignor as Non-Driving additional insured. They

will treat the policy just like a normal lease. In the place of

the leasing company, they will insert the name of the Assignor.

The Loss Payee remains the bank or lien holder. Let the insurance

company know that you have the Power of Attorney for this vehicle.

If this is the direction that is most economical for you, then you

may want to find a creative, knowledgeable agent, (this is not

always easy). Many agents may reject your policy without fully

understanding the relationship or legality of it. We recommend

talking directly to the underwriters if the agent does not seem

knowledgeable. If you do set up your policy in this manner, then

you may want to contact the Department of Motor Vehicles in order

to see if a lease tag can be issued in your name without changing

the title.

REGISTRATION PROCESS

Each state has different systems. We have found that the most

common is as follows: Register Vehicle in Assignor's name in care

of Assignee's name and address. Keep Limited Power of Attorney

with registration. In most states, LIMITED POWER OF ATTORNEY

along with the ASSIGNMENT CONTRACT is sufficient to register a

vehicle. REGISTRATION AND LICENSE PLATE are to remain in

Assignor's name, (normally leave the same license plate on the

vehicle.

TAXES

Assignor will receive all property taxes on vehicle and then

forward to the assignee.

DEFINITIONS

ASSIGNOR person who has vehicle for sale or wants to be relieved

of monthly payments and insurance.

ASSIGNEE person who wishes to assume assignor s

responsibilities of payments and insurance.

ASSIGNMENT AGREEMENT agreement between assignor and

assignee

UPSIDE DOWN VEHICLE a vehicle in which the pay off is greater

than the book or loan value of the vehicle. (also referred to

as negative equity).

LIEN HOLDER the lending institution who financed the vehicle

for the assignor.

PURCHASE AGREEMENT purchase contract between lien holder

and assignor signed at time of purchase of vehicle.

LESSOR a person leasing an item to another person.

LESSEE a person leasing an item from another person.

ODOMETER mileage indicator stating exact mileage on a vehicle.

ODOMETER DISCLOSURE STATEMENT a Federal and State Law

requirement that you state the mileage of a vehicle upon transfer of

ownership.

NEW COMPANIES a company that finds a vehicle owner, that must

relinquish their vehicle because it is close to repossession, and

then finds a third party to assume the vehicle owner's

responsibilities of payments, insurance and maintenance.

NADA BOOK (National automobile Dealers Association) a monthly

publication found in most libraries, that list average retail

selling prices and bank loan values of late model.

SUGGESTED ASSIGNMENT AGREEMENT

This agreement is made and entered into the date indicated

below by and between______________________(assignee) and

______________________________________ (assignor).

Whereas the assignor holds legal title or interest to the vehicle

described below and has same finance with ____________(lender)

having agreed to pay lender $______________________(monthly)

for another ______________________________ months (note

payments) with a residual amount of _______________________

(if a lease).

Whereas, the assignor is desirous of assigning or selling

the vehicle and assignee is desirous of accepting assignment

and/or buying the vehicle.

In consideration of the mutual covenants hereinafter made and

for other good and valuable consideration the sufficiency

and receipt of. which is hereby acknowledged, the parties

agree as follows:

1. Assignor agrees to assign the vehicle to assignee/buyer

for the term of the assignors note payments due his lender.

and hereby authorizes assignee/buyer to drive same, but

only for so long as assignee/buyer is current in the

assignment payments set out below in paragraph two (2).

The vehicle cannot be taken out of the state without

written approval from the assignor.

2. Assignee/buyer agrees to pay as assignment payments for

such vehicle, the monthly amount of assignor's note payments

to Lender, and to pay same by cashier s check or money order

made payable to lender and to mail such payment to assignor

at least ten (10) days before the ______________ day of

each month beginning on _________ 199__. Any late payments

shall be in default of the agreement.

3. Assignee/buyer agrees to take out and maintain insurance

on the vehicle satisfactory to assignors lender and to name

assignor as primary insured. assignee as additional insured

and lender as loss payee. assignee/buyer further agrees and

does hereby indemnify and hold assignor harmless from any damage

or liability arising out of assignee/buyers use of assigned

vehicle.

4. Assignee/buyer understands and agrees that should he/she fail

to timely pay any of the assignment payments called for above or

allow the aforesaid insurance to lapse or should assignors lender

declare a default under its note or loan agreement or deem such

loan repayment or the collateral to be insecure, this assignment/

Purchase agreement shall terminate at once, assignee/buyer shall

no longer be deemed to be an authorized driver of the vehicle.

and assignee/ buyer agrees to return the vehicle to the assignor

or. his agent immediately. Failure to do so shall result in the

immediate repossession of the vehicle by assignor. its agent or

the lender or its agent.

5. Assignee/buyer shall have the option to purchase the vehicle

upon (a) its full and timely compliance with this agreement and

(b) the payment of all note payments to lender. Thereupon,

assignor will deliver to assignee/buyer the vehicle s certificate

of title. Default under this assignment by assignee/buyer or

other authorized termination of this agreement shall forfeit

any option to purchase the vehicle that assignee/buyer may

otherwise have had. Upon full compliance and satisfaction

of the lien, assignor will have 30 days to deliver title

to assignee.

6. Normally, legal title to the vehicle shall at all

times prior to assignee/buyers proper exercise of his/her

purchase option described above remain in assignor s name

and possession if applicable.

7. During the term of this agreement, assignee/buyer

agrees to maintain the vehicle in good repair and full

operation condition. Any failure to do so shall be grounds

for termination of this assignment/purchase agreement and

assignee/buyer shall be personally liable to owner for

the cost and expense of any repair deferred maintenance

other than for normal use and wear and tear.

8. upon a 48 hour notice to the assignee/buyer,

assignor has the right to inspect the vehicle at a

location of his choice, no more than once a month.

9. Any additional or special provisions applying only to

this agreement are written as follows:

10. This constitutes entire contract. This assignment

agreement including any addendum's or exhibits hereto which

are by this reference made a part hereof, contains the entire

agreement relating to the assignment of the vehicle and shall

bind and insure to the benefit of all respective heirs,

personal representative, successors and assigns of the

parties hereto except as hereinabove expressly limited.

Any oral representation or modifications of this assignment

agreement shall be of no force and effect, excepting

modification in signed by the party to be charged. No delay

or forbearance of assignor in the exercise of any remedy or

right will constitute a waiver thereof and the failure to

exercise or a partial exercise of a remedy or right shall

not preclude a subsequent or the further exercise of the same

or any other right or remedy by assignor. Assignor shall have

no liability for any delay in delivery of the vehicle for any

reason beyond the control of assignor.

In witness whereof, the parties have executed this

agreement as of the--______day of______199__,

at

_____________________ _____________________

Assignee/Buyer Signature Assignor/Seller Signature

Print Name and Address Print Name and Address

_____________________ _______________________

_____________________ _______________________

_____________________ _______________________

Date ___________________Date_____________________

Telephone Information Sheet (Questions you should ask when

calling about a vehicle.)

Date:

Owner s Name:

Make of Car:

Year:

Color:

Mileage:

Condition:

5 Speed Transmission: Automatic Transmission:

Monthly Payments:

Number of Payments Remaining:

Full Pay Off Amount:

Are Payments Current:

Address Where Car Is Located:

Owner s Phone Number:

Comments:

NOTE: When making phone calls, use a note pad to write down

the above questions, record the seller's answers accordingly.

ASSIGNEE S RESPONSIBILITIES (Assignee- person who wishes

to assume assignor's responsibilities of vehicle payments and

insurance)

1. Make payments to assignor, by money order, cash or bank

draft made out to lien holder/lender and forward to assignor

10 days before due date. (NOTE: Put account number on money

order or bank draft. Assignor will promptly forward this in to

lien holder in order to maintain his credit status.)

2. Provide copy of insurance, naming assignor as primary

insured, assignee as additional insured and lien holder as loss,

payee.

3. Notify assignor of any change of address.

4. Provide assignor with credit application (included in this

information package) and at least eight (8} personal references.

5. Provide assignor with original assignment agreement.

6. Receive all manuals, warranties and other information pertaining

to the vehicle. Keep warranty in the name of assignor

7. It will be the assignee s responsibility to pay for and keep

current the collision and liability insurance, property tax,

inspections, permits, and other taxes or fees pertaining to

the vehicle.

8. Maintain the vehicle in excellent working condition as described

in the owner's manual.

POWER OF ATTORNEY

KNOW ALL MEN BY THESE PRESENTS. That the undersigned of

the County of State of being the Registered Owner of the above,

described motor vehicle. does hereby make, constitute and appoint

of ________________County. State of true and lawful attorney in

fact to sign in the name, place and stead of the undersigned, any

Certificate of Ownership issued by the Department of Motor

Vehicles of the State. covering the motor vehicle described above

in whatever manner necessary to transfer any registration of said

motor vehicle. Granting and giving unto said attorney in fact.

full authority and power to do and perform any and all other acts

necessary or incident to the execution of the powers herein

expressly granted with power to do and perform any acts authorized

hereby. as fully to all intents and purposes as the grantor might,

or could do if personally present, with full power of substitution.

IN TESTIMONY WHEREOF. the undersigned

has________________ hereunto set __________________

hand___________ this ______ day of _____________,19___

(PLACE NOTARY SEAL HERE)

X _______________________________ Subscribed and sworn to before me

X _______________________________ this ________day of

_______________19___

Witness:

Address:

Notary Public in and for the County of State of

UNIFORM COMMERCIAL CODE

9 311. Alienability of Debtor s Rights: Judicial Process The

debtor's rights in collateral may be voluntarily or involuntarily

transferred (by way of sale. creation of a security interest.

attachment, levy, garnishment or other Judicial process)

notwithstanding a provision in the security agreement prohibiting

any transfer or making the transfer constitute a default.