Financed a car for a friend vol. repo

[djaward]

Originally Posted by NoTurninBack

Originally Posted by djaward

Before taking action, is he still your friend? Have you asked for payments? And his response?

He has been ducking me for a few weeks but he just called asking for his tools, I have been calling him 2 times a week and he just does not answer. The last time I confronted him in person he just stood there with his tale between his legs saying times are hard at the shop and he is just getting by he tried to pay me with 700.00 in home depot gift cards but he wanted face value. I told him I didnt need time so I would only credit him with 350.00 so it didnt happen. That was 2 months ago...

FYI, no matter what comes out of this situation, this friendship is now over. 

So with that being said,  go get your car. The car is still your. There is no written contract about your agreement with him. I dont know what to tell you about the money hes already given you. If it were me and I wanted the card back, Id only give a couple grand back. Thats it. 

 

[nflowshoe]

 

[famenycity1]

Originally Posted by RealRubirosa


If you wanted to go take your car back, I think you'd be legally safe to do so. Here is my logic:

In regards to "repossessing" your car:
The statute of frauds says that the sale of goods over $500 must be in writing; not an oral agreement. You sold your car for $10k so there legally has been no sale at all. Since there has been no sale, the car is not his; is still yours, and the title reflects such. You can't be charged for stealing your car from a person you never actually sold it to, and you can't be charged for trespassing on his land to do it if it's in the street; not on his land. You could, however, have an issue if he has personal stuff in the car and you take it away--might be better for you to take all the stuff out and leave it at his door or something to that effect. If it's his only car, he could try to make some sort of reliance claim saying that he relied to his detriment on the agreement to buy your car and now he can't get to work or whatever because you took the car. However, a court probably won't be too sympathetic to that since he should have gone the extra inch to make the sale official instead of try to sneak around TTL expenses by buying a car under the table.

In regards to the money:
Since there was no sale, he has no obligation to pay you the remaining $3k. However, a court may require that you repay him because you wouldn't deserve the $7k out of a mistake. However, you probably wouldn't have to repay him the entire amount since he did have use of the car for a full year and it would have depreciated (in value or in condition from use) during that time--depending on how you can calculate that, you may be able to find that you don't have to actually repay him much--if anything at all--but that could be difficult.

He could argue that his down payment, consistent payments, acknowledgement of a remaining balance on a check to you for a payment, and his possession of the car could imply that you guys had a contract and that it just hadn't been written yet. However, waiting a year to put a sale into writing doesn't sound reasonable. If you guys avoid the courts, make a new contract that refers to the original deal and acknowledges the previous payments toward the balance and expresses the terms, parties, price, and item very explicitly.
If the option is still out there, I'd just go talk to him and see what's going on rather than just make him wake up to a missing car and a stack of crap on his doorstep with a note on top reading,"Sorry, bro. Legally, we never had a sale so I took it back. HMU when you get your $$ right so you can have it back, pleighboi."

I'm not a lawyer. This is just my reasonable opinion on what could come of this in a hypothetical respect.

The Truth, this man speaks it.

This stuff is straight out of any business law textbook.

Get you car back and tell him to take you to court. Since he would be asking for over $5,000 back he cant even take you to small claims (depending on your state). Your in the clear in this situation as far as I see it. For all it matters you can tow it today and sell it tomorrow and he wont really be able to do anything.

 

[crcballer55]

Mistake #1, Financing a car for a friend
Mistake #2, Not having a written agreement

With that said, he made a big legal mistake when he stated in writing that he still owed $3000. It's highly likely that if he tried to take legal action that this would be the most evidence you needed to come out ahead since it's all he-said he-said after that point.  You also have several checks up to that point to provide a paper trail even though there wasn't anything written in the memo line.

You have three options.  You can drive the car off and never be able to speak to him again.  You can try to sue him for the amount owed.  But if his shop is going downhill like you say, it's likely that he will never pay you back.  Or, you can go to him and find out his situation and work something out.  It all really depends on how good of a friend he is/was and whether you want to speak with him ever again.

 

[noturninback]

I decided to set it up for tomorrow around 1 PM, the friendship was done when he stopped making payments. I plan on keeping the car and driving it daily like I did before I sold it to him. He is going to be mad but he wont do nothing he isnt "about that life" he will call a lawyer and see what his options are. I am sure they will be short being that he does not have any money to pay the lawyer. Ill keep you all posted..

 

[realrubirosa]

The agreement was verbal the only record we have in writing is the payment history that shows the date of the down payment and the past 12 monthly payments. After the last payment he made he wrote across the bottom "new balance 3000.00". I have the paper and he wrote all the payments on it we agreed that this method would be fine for both of us to keep record. He has no record of payments all of them were cash one was a check but the memo line was blank.

This part kind of confuses me. What exactly is in writing? Some sort of payment log book? If so, does it say that the payments are being made toward the purchase of the car? If so, is the car described at all on it (year, model, make, VIN, etc.)? Does it have both of your names on it?

 

[noturninback]

Originally Posted by RealRubirosa

The agreement was verbal the only record we have in writing is the payment history that shows the date of the down payment and the past 12 monthly payments. After the last payment he made he wrote across the bottom "new balance 3000.00". I have the paper and he wrote all the payments on it we agreed that this method would be fine for both of us to keep record. He has no record of payments all of them were cash one was a check but the memo line was blank.

This part kind of confuses me. What exactly is in writing? Some sort of payment log book? If so, does it say that the payments are being made toward the purchase of the car? If so, is the car described at all on it (year, model, make, VIN, etc.)? Does it have both of your names on it?

All that is in writing is the dollar amount and the date payment was made. No year make model vin no names just his hand writing on a 4X6 green post it that is about 18 months old. 

 

[Bert.]

Originally Posted by NoTurninBack

I decided to set it up for tomorrow around 1 PM, the friendship was done when he stopped making payments. I plan on keeping the car and driving it daily like I did before I sold it to him. He is going to be mad but he wont do nothing he isnt "about that life" he will call a lawyer and see what his options are. I am sure they will be short being that he does not have any money to pay the lawyer. Ill keep you all posted..

brah, the car is in your name, you have have the keys.

the car is YOURS! you can do what ever you want, hes pretty much wasting his time and money if he calls a lawyer, im 99% sure if you get a judge with a brain you would easily win the case. he has no paper or proof to back anything up. you have the title in your name.

case closed/

 

[realrubirosa]

Originally Posted by NoTurninBack

Originally Posted by RealRubirosa

The agreement was verbal the only record we have in writing is the payment history that shows the date of the down payment and the past 12 monthly payments. After the last payment he made he wrote across the bottom "new balance 3000.00". I have the paper and he wrote all the payments on it we agreed that this method would be fine for both of us to keep record. He has no record of payments all of them were cash one was a check but the memo line was blank.

This part kind of confuses me. What exactly is in writing? Some sort of payment log book? If so, does it say that the payments are being made toward the purchase of the car? If so, is the car described at all on it (year, model, make, VIN, etc.)? Does it have both of your names on it?

All that is in writing is the dollar amount and the date payment was made. No year make model vin no names just his hand writing on a 4X6 green post it that is about 18 months old. 
Oh. Well, in that case, yeah, I'd say that shouldn't even remotely satisfy the writing requirement. You should be straight.

 

[asianplayer]

With the title in your name, you prolly can just go pick it up. With the evidence of him still owing $3000 and him not making a payment in 4 months, I highly doubt he would try to take you to court.

 

[heliumclinton]

He could take you to court, it's basically your word against his if there was no written argument.

Most likely a judge would say you get your car back and give him his money back

 

[witnesskb24]

Take it and tell him he needs to pay you the remainder in full or you are keeping it

 

[Bert.]

Originally Posted by heLiumcLinton

He could take you to court, it's basically your word against his if there was no written argument.

Most likely a judge would say you get your car back and give him his money back

but theres no proof of money being exchanged though.

a judge will clearly ask for proof for payment from his friend and he will have none since he paid cash and kept no notes or anything im guessing. He paid once by check and the judge might grant him that one but thats about it.

 

[buggz05]

I say give him half of the down payment back. Keep the monthlies and go get the car. Keep doing this until the car is a certified antique and fully restored.

That's how buy here/pay here dealerships make their bank. They basically keep renting out their cars, and then repoing them.

 

[witnesskb24]

Whats he going to say if he takes OP to court? Dude took back a car that was in HIS name?

 

[albooboo5]

That is a nice 58.

 

[noturninback]

Originally Posted by AlBooBoo5

That is a nice 58.

Thanks. Its a '59 Rambler Super Sedan. Ill post more pics when I pick it up that one was taken about 5 years ago when I got it.

 

[6 Rings G.O.A.T.]

WOW..

i wish i was your friend..

 

[degenerate423]

If his shop is really doing that bad, then you're doing him favor because he doesn't have to worry about payments or spending more time/money on the car.  Take the car back and leave a note on his door that says "Thank Me Later."

 

[realrubirosa]

I can't be the only one wondering what happened... Can I?

 

[noturninback]

Originally Posted by RealRubirosa

I can't be the only one wondering what happened... Can I?

The tow truck driver did not want to go today its raining here in Houston its a pain to have the car towed because its so low. The two times its been towed the drivers took 45 mins to load it, they dont like paying to fix bumpers. Hopefully tomarrow.. 

 

[grizzlyboy]

Please update us when this happens.

 

[noturninback]

I picked the car up about an hour ago, I don't think he knows yet no one was home when we picked it up. Ill post pics later I have it parked at a friends house.

 

[nooera]

So you're not really this dude's friend, right? Ya'll are just acquaintances? Because this doesn't sound like something a friend would do

You let dude pay off most of the car then you just went to his crib and jacked it when his business is falling apart? Over three stacks?

Wow.

 

[grizzlyboy]

I didn't think you were going to do it bro.