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  1. #1
    Join Date
    Apr 2007
    Posts
    2

    Default Verbal Agreement For Lease Of A Car in South Carolina

    Alright, so I made a mistake. A verbal agreement gone bad. Basically, my roommate/friend needed a car. We went to the auto auction he registered to get a bidder number but I was doing the buying. He had put down a $300 deposit. I found a car that was a good deal, bought it for around $3k. They transferred over his $300 to me. I told him that would be his first payment. The agreement at the time was that he would lease the car from me for a while and i'd see if i wanted to sell it to him or keep it or whatever. Well the agreement was $300/mo just to lease it while I cleaned it up and tried to sell it for a profit. I tuned the car up, cleaned it, replaced the broken radio with a new factory unit...all on my time and at my expense. I told him do not smoke in the car and to treat it with respect because it is my car. he has a bill of sale that had $9000 as the purchase price on it so he could get it registered as the title work hadn't come back yet. Well about a month in to it, I found out he was smoking in it and drinking and driving in it and just treating it like crap. I had a buyer who wanted to purchase the car for $5800. So I was angered and told him he had 1 of 2 choices.

    1. Give me my keys and do not drive my car ever again and that will be the end of it.

    2. He agrees to buy the car from me for $5500 (thinking about his $300 deposit). He will continue to lease the car for 300/mo that does not go towards the purchase price... until he got his tax check back and could pay the car off in full. As I am not a financial institution and am not in the deal to lose money or be nickled and dimed on selling it. He was supposed to be getting his tax check back in a month so it wasn't a huge ordeal and he said that he could pay it off in full at that time. I was real clear about the price, the payments, and that i didn't want $500 here or $1000 there. I also told him not to smoke in it or tear it up until the car was actually his. I also told him he would have to keep full coverage insurance on it as well. He has a TV at my house that I told him would stay until he paid off the car. Using it as collateral for debt. I dont want the TV but that's basically all he has. It's worth about $1800 but to sell a used TV is like pulling teeth.

    I have leased to own a car before and have written up agreements of this nature in the past, but felt it wasn't necessary this time... i now feel that it is ALWAYS necessary but anyway. So the guy was late on payment. Didn't pay one month. I didn't say anything, gave him a chance to pay. During this time I had to ask him to move out of my house and that I wanted the car paid for ASAP. Well he gave me $1000 to tide me over until he got his tax check. Gave me the run around on it for weeks, then says "I have the money". I meet him to get it, and he's $1000 short. I am outraged for him nickel and diming me and wasting my time. I tell him he has until the following friday to get me the money. He said he would give me $500 this friday (this was tuesday) and that he'd get the rest by friday of the following week. Well on "this" friday... nothing. No call, no payment no nothing. So I call him, he ignores my call. I see him out and ask him what the deal was. He wants to renegotiate the terms. I told him of course.. that he was crazy. It didn't matter what he thought about the terms at this point, they were clear and he's not living up to it... period. So I tell him, you have until next friday to give me my money IN FULL ($1000). not even charging him for the $300/mo lease agreement. Well i reminded him on wednesday... friday comes.. and nothing... so I called him and said. Alright, it's time to pay your debt. The deal is done, the TV is mine, you lost your collateral, I dont want to deal with you anymore. Well a few weeks later he sees me out and tries to tell me he has my money... I told him that I already told him the deal was done leave me alone do not contact me or harass me anymore about it. Well of course he harasses me, his mother calls me to "talk as adults" but doesn't let me explain to her the terms and how it happened. I told her not to contact me or harass me either. Come to find out, he sold the car to someone else... the car is my car, titled to ME. So I get this letter today... stating he talked to the magistrate, and that he wants his money, and TV back as he doesn't want to purchase the car any more. I'm sure I am leaving something out but for now I think that's everything. What should I do? I could report the car stolen but I dont want to screw the guy he sold it to because he is in the miltary and needs the car. I am working with that guy now to get the title in his name and just alleviate things. Any advice would be greatly appreciated. I have set up an appointment with the JAG on base as well. Does he have a right to cure or anything along the lines of that? Can he say, I dont want to purchase the car? He already sold it!

  2. #2
    Join Date
    Jul 2006
    Posts
    5,437

    Default Re: Verbal Agreement SC (I know I know)

    How will you prove the verbal agreement?

  3. #3
    Join Date
    Apr 2007
    Posts
    2

    Default Re: Verbal Agreement SC (I know I know)

    I dont know. It's one against the other basically. Any suggestions? In the letter he acknowledges that I am holding the TV for collateral for "said" debt. He also states that I have attempted to amend "said" verbal agreement. My girlfriend at the time was aware of the arrangement as well as another friend, however they were not present.

  4. #4

    Default Re: Verbal Agreement For Lease Of A Car in South Carolina

    You bought a car for 3000. You sold it for 5500. buyer paid you 4800. Buyer owes you 700. You have the Buyers TV set for collateral. Is this correct? Buyer sold car to Soldier for how much? Was he paid in cash? What year and model car is this? You are lucky that there has been no gigantic collision while it is in your name.

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