How to lease car from individual

Im looking to buy a 97 mustang cobra, and I will be making payments to the seller. I was wondering what kind of legals papers and contracts we needed to make and sign. Also, if any knows how the insurance and tags would work. I would be driving the car while I'm making payments. If i were to wreck it, or total it before i paid it off, how would that work. I live in Alabama, and the law does require you to have insurance, incase anyone was wondering. Does anyone have any answers or know of any websites or people to call that could help me out with this? Thank you very much!!!!

It sounds like you're not sure if you're going to 'LEASE" or "BUY" it. In a lease situation, the lessor owns the car, and in a buy situation, you both own the car... The transactions would be completely different. If either is not from a legitimate dealer, you will want to consult a lawyer to be sure both of you are adequately protected.

i will be buying it from him, but making payments, like if he was a dealership or something. hope that clears it up.

Talk to a bank about an auto loan. The guy you buy it from gets it all up front, and you pay back the bank in monthly payments.

Oh, and if you wreck it, you keep paying until it's all paid off.

i dont have any credit, which to banks is like bad credit, so a loan is not an option. If i wreck it, wouldnt insurance pay me what the car is worth, and then I could give mr.smith the remaining money i owed him for the car?

all you have to do is write up an agreement that outlines what you are getting (the car) and when your payments are due and how much each payment is. Then you both sign and date it and you each get a copy.