Safe to loan $1500 with this M1A as collateral?

[Strmtrper6]

Well the deal is said and done. I'm fine with taking a risk for him and I believe I minimized it by buying it with a year for him to buy it back. I covered myself as far as any change in condition when/if he wants it back including firing it. I would have been fine with the purchase if it was an actual deal and not this situation. Also, he already gave me the rifle yesterday and though I admit limited knowledge, it was in good condition.

Again, thanks all. Hopefully you won't hear me whining in a year about how the deal went sour.

 

[Reid73]

Don't sweat it. It's only $1,500, which is not enough to lose sleep over.

Hope it all works out.

 

[Dr. Tad Hussein Winslow]

The answer is "it depends."

If you want to be able to get your money back by walking into a gun show, and walking out in 10 minutes with enough cash to completely cover the amount owed, NO.

If you don't mind listing, walking around several shows, putting it on consignment at a pawn shop, etc., etc., and/or not getting quite enough out to completely cover, then YES.