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.
|