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  1. #1

    Default Is a Private Car Seller Allowed to Repossess the Vehicle

    My question involves a consumer law issue in the State of: North Carolina
    Had verbal agreement 5 months ago for someone to buy but never received payment on it. Person moved out w/ promissory note NOT notarized just signed by myself n person. Person made 1 insurance payment on it but not to auto. Person tried to delay but now I have decide to cancel out the note because I do not want to go thru this every month. Can I take auto back since its solely in my name. Title n registration is in my name only. Thank you in advance for ur time.

  2. #2
    Join Date
    Sep 2005
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    98,846

    Default Re: Is a Private Car Seller Allowed to Repossess

    This scenario has been addressed in hundreds of threads. The answer doesn't change.

    When you sell a car, you should actually sell the car -- get cash, transfer title, be done with it. When you choose to finance a car, you are likely to have problems. When you choose to finance a car and keep it in your own name, you also create significant potential liability and insurance coverage issues.

    Since it's too late to revisit that question.... If the car is still titled in your name and the buyer has not made the contractually defined payments, you can speak to the local constabulary about recovering the vehicle on your own, so that they won't treat the car as having been stolen when your buyer finds it to be missing. That being done, you can recover the car, peaceably from a public place. The buyer can then sue you for a refund of some portion of the money paid for the vehicle and, depending on the amount at issue, the value of the car, and any arguable wear-and-tear, may well win a partial refund.

    Another alternative is to forget repossession and to simply sue to recover the money owed for the vehicle.

  3. #3
    Join Date
    Mar 2013
    Posts
    16,959

    Default Re: Is a Private Car Seller Allowed to Repossess

    Quote Quoting Dreams2dream
    View Post
    Person moved out
    Boyfriend?
    Girlfriend?
    Roommate?
    Relative?

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