I am thinking about lending a car that I am not using to a friend for an extended period of time. About 6-8 months and he is going to give me about $500 and fix some minor things on the car for me (he is a mechanic). I live in New Jersey. I'd have to put everything in his name so he can register and insure it. I want to draw up some kind of contract to make everything legitiment. Is this whole thing a good idea and what do I have to do to ensure everything works out in my favor?