I did a very stupid thing last year and wanted to see if i could get some help. About a year ago, I decided to buy a car in my name but give it to someone else to pay the note on it. There were reasons behind this decision to do so but I wont get into detail. My problem is this, so far its been going very well for the past year and a half but for some reason this month the person is having a little difficulty with paying the note and naturally I am going to cover my note because I dont want late fees and a negative rating on my credit but I do want to get reimbursed and have asked her to do so. My question is this, if for some chance she doesnt come up with the note and I demand to get my car back but she puts up a fight. What should I do about it? I dont want to lie to the police and said she stole when she didnt and I also dont want to go to court either? Any suggestions would be helpful and dont tell me how dumb i was to do what i did, I know that already!
2006-06-21 18:07:27 · 6 answers · asked by NIKFAY 2 in Cars & Transportation ➔ Other - Cars & Transportation
Why not just sell the car to her? Have her get a loan in HER name that is enough to pay off the loan that is in YOUR name and then the car is hers! And you will be OUT of the obligation.
If she cant afford to keep this car you need to talk to her about selling it and paying off the loan. Any equity in the car minus any down payment that YOU made...Minus any payments you made should be hers since she is the one that was paying for it all. Good luck! hehe...I am sure the 'Lesson' about co-signing etc... is well learned by now in your house! I see it all the time...so dont beat yourself up for being stupid...just learn from it!
Take the opportunity of the inevitable uncomfortable conversation with the lady to try to teach her about finance and better money management...From one experienced with stupid! Good Luck!
2006-06-21 18:24:02 · answer #1 · answered by FreedomLover 5 · 1⤊ 0⤋
You mean you purchased a car, but no longer wanted it and transferred ownership to your friend unofficially (without DMV and state documentation)? And that she is paying you in increments so you can pay off the balance of the loan, but she's late with her current payment?
If the title to the car is still in your name, legally, it is yours, and you can demand she return it at any time. She has no recourse but to return it to you (if she refuses, get the authorities involved), but she may tell the proper authorities of your deal.
This is a complex legal situation, and you should really consult a lawyer about it. Don't go to court; just get in touch with your family's attorney and see what your options are.
2006-06-21 18:18:54 · answer #2 · answered by bracken46 5 · 0⤊ 0⤋
Easy. On the way to the house to GET THE CAR! Call the police ahead of time. Tell them you need them there to help get YOUR car back. Tell the police that you let her borrow it for a week or sooo and NOW she is not wanting to give it back. The cop will run the plate ask you for your ID and go get the keys and bring them back to you. That simple ...... Been there BRO...... lol
2006-06-21 18:28:43 · answer #3 · answered by dicalicous2002 1 · 0⤊ 0⤋
In my state, it doesn't matter who paid. It belongs to whose name it's in legally. You can report it stolen or ask just ask for the keys(probably better to call police and have them there to witness as someone did that I know of) and see what happens. The person I know got the keys right there on the spot with the police.
2006-06-21 18:19:25 · answer #4 · answered by bigmamads 1 · 0⤊ 0⤋
just talk with a good lawyer, i dont know what are the current laws and procedures there in ur country.good luck
2006-06-21 18:16:39 · answer #5 · answered by rivers_of_life 4 · 0⤊ 0⤋
man,i hope that was some goooood luvin'!!!!
2006-06-21 19:35:49 · answer #6 · answered by badmts 4 · 0⤊ 0⤋