Is It Legal To Raffle Off My Truck?
I want to get rid of my truck in order to get out of my loan. I’ve been trying to get somebody to take over my payments but am finding no hope. I was watching the news tonight and saw that some lady raffled off her house in order to save herself from getting it foreclosed, and it gave me the idea. I was just wondering though how I could do it and if it is actually legal?
December 2nd, 2009 at 2:14 am
here in our state you’d have to get permission from the Governor’s office to raffle anything.
Taking over someone’s payments means they don’t really own the vehicle until it’s paid off, and that’s a bad deal. For one thing they don’t get the credit on their credit report for making those payments. And I’m not even sure that if there is an accident that you would not get blamed because your name is on the title of the vehicle so it’s also a bad thing for you to do as well. If you’re trying to get rid of the truck then sell it outright with the permission of the bank. Remember that vehicle is owned by the two of you (you and the bank). If your’e wanting a different vehicle then go to the same make dealership and they will give you a different vehicle and change over the loan paperwork however you’d be paying for two vehicles then. The answer is to get a second job and pay off the loan. You own a truck well maybe you can help people who are moving with their belongings. Or maybe you could be an independent contractor for a business and deliver their furniture in your truck for a fee.
December 2nd, 2009 at 2:43 am
I’m sorry to hear about your truck. You’ll probably want to check state laws. rafflefaq.com has a lot of information, but there are some states that aren’t covered there. You can try checking the attorney general’s office for your state if the information isn’t on rafflefaq.com. In addition, there are a few other considerations, such as ticket price (are there state limitations), who can buy tickets, and so forth.
December 2nd, 2009 at 2:44 am
Not likely, check with your state laws.
Most states only allow raffles for charitable organizations, non- profits.
Not for individuals.http://rafflefaq.com/united-states-raffl…
December 2nd, 2009 at 3:03 am
The first answer is right, check your state laws.
Second, be careful how you do it. You have to be able to sell enough tickets to make enough money to pay it off.
If you don’t you need a way out of it, and be able to refund the money that each ticket purchaser got.
Lots of room to get in trouble here.