My question involves an auto loan or repossession in the State of: California.
I recently traded my motorcycle for a car and the person who I traded with agreed to put $1200 on top of the trade, which we set up payment dates for. I did not allow the person to take the pink slip to my motorcycle and will not hand it over to him until he has paid off the debt. He has made 1 payment since the date of our contract, which was January 16th of this year. We agreed upon a payment every two weeks, and that there will be a $40 late payment for every day after the first two days that he misses a payment. I had to basically force him to make the first payment, and since then, I have not received a payment from the purchaser for 3 weeks(being 1 week late as of today), and I was dodged when he said he would drop off money today. Can I take my motorcycle back without having to return his automobile, since he did not abide by the contract? This is a written contract in which he and I both signed along with 2 witness', however, the contract is not notarized. I have done many modifications to the automobile that he gave me for trade, and the car is worth much more now than when we originally did the trade. I am positive he will not be able to cover the $5000+ that I have put into the car since we traded. And there is no possible way to get the car back to the state that it was in when I first received it. I now have the title of the car he traded me, and it is registered under my name. Is there a way I can get my motorcycle back since he isn't making payments? And must I return the car? Please shed some light upon my issue. I am tired of dealing with this person, and I am getting restless waiting for him to come pay me for the motorcycle. He was not forced into making this deal. In fact, he was the one who told me the dates that he would make the payments.
Thank you in advance for your help.
Mark

