My brother and I bought a car together a few years ago. I'm making the payments and he's been driving it... until yesterday when it was stolen. He does not have insurance. What can I do...??? Any suggestions? There are still over $4500 in payments to be made... that's twice what the car is worth anyway but to pay that for a car we don't even have anymore is making me sick just thinking about it.
ARGH! Brothers...
:)
2006-06-15 09:50:59 · 9 answers · asked by Eddie 1 in Cars & Transportation ➔ Other - Cars & Transportation
guess that's why it should have been insured! you still have to pay
2006-06-15 09:57:30 · answer #1 · answered by hilarywow 3 · 1⤊ 0⤋
Obviously you need to file a stolen car report on it, and hope it is recovered. As to what you can do it they don't find it, nothing. If you read the contract you signed when you financed it, I'd bet you a dollar's worth of nickles there is a clause in there that you are required to keep insurance on it and name the finance company as a payee in case of loss. If you didn't, and they find that out, they can call in the loan and you will have to pay the entire balance or give them the car and pay any left over balance after they sell it. And of course, you can't do that. Keep making the payments until the balance reaches zero, and chalk it up to experience.
2006-06-15 17:13:08 · answer #2 · answered by oklatom 7 · 0⤊ 0⤋
Not a thing in the world you can do about it but pay the payments and beat the crap out of your brother for letting the insurance drop!
He screwed up big time! And you are in the middle of it cause you helped him out. Family can be a blessing or it can be a curse, right now I bet you are cursing a lot at your family member!
The finance company does not care about the mess you are in. They just care about the promise you made to them when they paid off the car and let you pay them in installments. They held up their end of the bargain and they will expect you to hold up your end no matter what your circumstances are.
The only thing you can do is file for bankruptcy for both yourself and your brother, and if it is only this one thing against you that won't be granted to you either.
Tell your brother to get out there and find the car. That is the only thing I can think of to do that will help you out any. anything else I can think of is illegal to do, so you don't need that kind of advice from anybody!
2006-06-15 16:59:16 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Steal someone elses car...Everyone is doing nowadays....bastards who steal cars are freaking drags of society...
1) File a police report ASAP!...longer it goes unreported, the more times those fukkers who stole your car can get away with it.
2)Keep makin payments on ur financed car, or rework the contract with the dealer and tag the remainding owed amount to another car and make payments for the old car and the new car at a better APR at the same time.
3) Scold your bro for not having insurance, force him to help you with the payments, and move on. Having your car stolen sucks and i know alot of stress occurs, but think positively and start draftin a plan for the next couple of weeks about what your going to do.
2006-06-16 16:37:51 · answer #4 · answered by Eli 2 · 0⤊ 0⤋
Well it all depends.. if it's your brother that has your car. Technically there is nothing you can do since the car under both of your names. Legally he is also entitled to the car. You can try calling the cops and giving them the plate number if not .. sorry to say but you just lost yourself a car. get a new one. What you can also do is remove your name from the finance contract. Something called change of responsiblity. Once he doesn't make the payment they will take away the car from him.
2006-06-15 16:58:09 · answer #5 · answered by Gemma G 3 · 0⤊ 0⤋
It figures everyone would just rub in the fact that you didn’t have insurance, instead of offering helpful advice. The best thing for you to do would be to continue to make your scheduled payments to protect your credit rating. Then go steal a nice Mercedes or Lexus for yourself, and forget this whole mess ever happened.
2006-06-15 21:33:08 · answer #6 · answered by psychoticlawnjockey 4 · 0⤊ 0⤋
File a police report, hope the car is found (driveable), make the payments on time and insure your next car.
2006-06-15 17:05:14 · answer #7 · answered by Anonymous · 0⤊ 0⤋
you don't have any choice - you're liable for the payments. insurance on the car is a completely separate matter and nothing to do with the repayments for it. sorry! but smack your bro for not insuring the car ...
2006-06-15 17:00:46 · answer #8 · answered by stufetta 3 · 0⤊ 0⤋
That'll teach ya not to have insurance. Now you have to pay for a car that you'll never drive. Tough
2006-06-15 16:58:26 · answer #9 · answered by Anonymous · 0⤊ 0⤋