Legal Question in Insurance Law in Virginia

Re: selling car do i need special quit claim deed if I am financing the vehicle

Quitclaim deeds are used to transfer interests in real property and not in personalty such as cars. Your proposed financing of your prospective buyer is reminiscent of a saying in

certain quarters down South involving a "pig in a poke". In other words, it's a bad idea, for many reasons, including the fact that, as you've already alluded to, you would be retaining title to the vehicle and might end up sharing in some kind of liability/responsibility as the owner of record if the vehicle became involved in an accident, or possibly, even a crime.