It would protect you to a point. The biggest issue here is that you are going to give money to a person and, in turn, rely on that person to pay off the loan on the car. What if that person does not pay the loan? You are out the money and title still rests with the financing entity. Be careful in this transaction. Good luck.
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I agree with counsel. You do not have any guarantees...just the seller's assurances
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