I sold a car to my nephew?

Question

I sold a car to my nephew for $4400, initially he paid me $2000, leaving $2400 that he owed. The first month he paid me $500, therefore only having to owe $1900. It has now been one year and he has not paid anything else on the car; I am going to take the car back from him. Should I pay him something for the car, though he has never paid me anything for it since the first month, or should I just consider it a "REPO" and tell him to go pack sand?

side note... this is business not family matters.

Answer 1

take the car back
just like he know's he owes you 1900.00

Answer 2

1. Call him and ask what's up. If he's having financial problems, then ask him to pay whatever he can, even $50 a month will do.

2. If #1 doesn't work, then talk to his parents. If this also goes nowhere then go to step 3.

3. Repossess the car or sue him in small claims court.

But don't think this is "just business".... it may be to you but not to him. He may think his uncle is an asshole for taking him to court or taking back the car. And don't expect to be welcomed at any family gatherings because the majority of the family will side with the kid. This is exactly why you don't do business with family or friends.

Answer 3

I hate to break the news to you... but when you're dealing with FAMILY there is no difference between "Family Matters" and "Business".

You sound like you subscribe to the "tough love" technique.

Forget he's your nephew.

Go repo the car and return his money paid to you MINUS a percentage (decided upon by YOU) due to depreciation of the vehicle while he drove it.

I hope you had the sense to hold the title until he paid.. because if you didn't... it's HIS car.

This should be a lesson to alot of people! Don't mix family with business! I didn't have to read the details of the question before knowing what happened!

Good Luck.

.

Answer 4

Take the car and let him pay for the rest of it. Tell him 1,900 more and he can have it back. If the 1,900 is hurting you take the car bake sale it and give him everything you get over 1,900 minus the money it cost you to sell it. Nothing is more important than family.

Answer 5

depends on the written agreement you 2 had. if it states something in the agreement that if buyer fails to make timely payments, then veh will be repo'd, then you got him. if it dont, then 1st) you should know better, and 2nd) you gotta take him to court. when a car gets repo'd in the real world, you dont get any kind of refund from the finance co. i would repo it.

Answer 6

i have been through the same thing with my stop son,kind of like you after a year i went after the car,and i didn't pay him nothing back for it,i think what got me the worst was that he avoided me on it,so i took it,like i told him,its not personal,its just business,so if i was you id take it back,you don't own him nothing,so if you do want to give him some back,that's totally up to you on that part of it,but i had to set my step son down and explain this to him,you have one of two choices here let the whole thing go,or take the car back and sell it,sometimes its a hard decision to make,but sooner or later teen agers have to learn they you have to pay your bills in life,or your going to loose things,good luck,i know its s hard decision to have to make.

Answer 7

Go take your car back, he got 12 months with no payments.


Good Luck,

Answer 8

Get the car - he's had plenty of use of it. It's depreciated over the past year, so your resale value has dropped, not to mention wear, tear, and mileage.

Answer 9

Give him a warning, if he still refuses to pay then repo it.

Answer 10

Take him to small claims court.