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Auto Loans and Repossession Creditor actions following late payment or default on motor vehicle loans.

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Old 05-06-2005, 01:22 PM
vietgrl vietgrl is offline
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Join Date: May 2005
Location: arizona
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Default Sold a car but have not collected all of the money
A week ago my brother sold his car to another person. They verbally agreed on the amount of 4500. The guy could only come up with 3500 and he agreed to pay the remaining 1000 in a week. As a safety precaution my brother kept the title and would not sign over the title until the person paid the full agreed upon amount. He did let the guy leave with his car. A week has gone by and the guy gave an excuse that he still does not have the remainding 1000 and to give him more time. We are afraid that the guy is trying to pull a fast one.

What is there legally we can do if this continues on? Any advice on this situation would be helpful. Thank you.
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Old 05-06-2005, 01:33 PM
aaron aaron is offline
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Default Car Not Paid For - "Buyer" is Driving It
Your brother needs to be very careful - it sounds like the new driver is driving the car under his plates and insurance. If the new driver gets into an accident, as he is driving a car owned by your brother with your brother's permission, your brother is probably going to be liable for any injury that results. Meanwhile, who knows how he is treating or maintaining the car.

Your brother is, in a sense, between a rock and a hard place. He needs to either get the car back, or find a way to close the deal. Getting the car back may mean refunding all of the purchase price, and probably most of it. Closing the deal? Perhaps the buyer can get a loan for $1,000, using the car as security.
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Old 05-06-2005, 02:22 PM
vietgrl vietgrl is offline
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Is there anything legally he can do at this point? If the guy ends up refusing to pay or return the car for instance what do we do?
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Old 05-06-2005, 04:54 PM
aaron aaron is offline
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Default Getting Car Back
Your brother dug himself a hole here.

You can see if the police will assist with the recovery of the plate, assuming your brother let him drive off with his license plate. Beyond that, your brother may wish to try small claims court.
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