What would you do?

Sorry, I think I stole this idea from Lips, but this is something that actually happened to me today and I'm just curious what others would do in this situation.....Ok, so my boyfriend placed an add in the auto trader to sell this spare car that we got. He only wants $800.00, for the car. We got a call today from someone interested in buying it. They later call back and ask him if we can set up some kind of a contract for them to  to put $400 down and then $100 a month payment for 4 months, and being the kind and trusting person he is, he agreed to it......I already don't like this idea......Then they call back after 10:00 pm, and of course he's in bed now and I answer the phone. The lady then proceeds to tell me about how bad the economy is and how hard it is for them, as if no one else is feeling the effects of the economy  [hello, we're trying to sell a car for dirt cheap just to get alittle cash] Basically a big pity me story, then turns around and tells me that they can't come up with $400.00 and ask if they can just make payments.....I really sympathize with these people and God knows I've been in situations where I could use some help like this before, but I really don't trust this. Already they have changed their story twice now, and what's to stop them from calling every month and saying they don't have the money and ask for an extention. Even worse, who knows, maybe they might not even have real information and we write a contract and never see or hear from them again!!! Like I said, I really do feel bad and would like to have the chance to really help someone out, but I also dont trust this situation and of course I need to do whats best for us, before I can think of a stranger....I already told him not to do this and I feel a little bad, but I really don't want him to get burned...No good deed goes unpunished!!!! What would you guys do in a situation like this???????

Satansmuff:
    Do you know these people at all?  Friends of friends?
      As I read your story the hair on the back of my neck stood on end. 
  You have a very good instinct this is a bad idea, and I agree with you.  Once that car is in their hands they could be long gone. Now I am not saying these are bad people. They very well could be on the level, but to be blunt, it is not your problem. Your selling a car. The price is $800. CASH UP FRONT. No $800, no car.
      If your boyfriend does go thru with this deal, I wouldn't change the name on the title to the other people until you recieve all money in full.
    I hope I was not to blunt , but it scares me for you.
In this day and age, it is hard to give people the trust we used to be able to afford.
Sorry if I have offended anyone.

NOOOOOOOOOOOOOOOOOOOOOO!!!! It is hard enough to collect from friends and family, let alone a stranger.  Tell them fine you will take the $400 and give them the car after they have paid the rest!  Just my advice.

If he has agreed, and you think he is still going to let them make payments.  Don't give them the pink slip, but do go to your local Department of Motor Vehicles list the buyers as the registered owner and yourselves as the LEGAL owner.  Kinda like how the banks are listed when you finance a car.  That way if they go out and get in a wreck you aren't responsible but it is still legally your car so you can always REPO it!  Also be sure you have an extra key, go to their house and their job just so you know they really live and work where they say they do.  GOOD LUCK HUN!

No I have a big heart but if I didn't know the person I would hold the car until it was paid in full. Too many people get ripped off and end up in a mess.

thank you guys for your response's and no pmm2008, we have no idea who these people are, just called from the add....to be honest i'm glad about the responses i got, i don't quite feel like a big ass now that i see others think it's shady also!!