I finance a car for a friend, his name is not on the loan, he is got the car but he stopped paying,?

Answers:14   |   LastUpdateAt:2012-09-10 16:10:02  

Question
Shirley
Asked at 2012-08-08 14:39:44
now I have to pay for the car , but what I can get it back?
Answer1damilolaAnswered at 2012-08-08 15:02:06
Without the title, you are basically screwed. You can try to reason with him, but nothing I can do will make to the car.
Answer2.......................................Answered at 2012-08-08 23:12:02
Take it to " People's Court ."
Answer3billayAnswered at 2012-08-09 12:09:42
Well , you have to pay for it so you do not crush your credit , but the lesson here : Truly they are your friends ?
Answer4stanAnswered at 2012-08-10 11:34:04
If you are the only one loan, then they are supposed to be on the record and the title ... You can and should take the car or to require stolen and the police have to get it from where ever he lives ... NEVER co - sign or get a loan to another person. You will always be at least as responsible for payment . The lender will not have mercy on your situation either, but you can call them and tell them the situation and ask for advice. Pay off the loan early. You may voluntarily surrender the vehicle will be reflected in your credit report but if you have a lot of default it anyway , I can not afford care. Taking the car will be the best way to get back at him. And wouldnt consider him a friend .... more
Answer5John JacobAnswered at 2012-08-12 03:26:03
What a lot of answers in poor condition. Financing of cars is what I do for a living and since financed the vehicle , the title must be in your name , which means that the vehicle is its not its called friends .

Say you have 24 hours to bring the car or stolen to the police report , then do it if not the Department of Energy back.

Then you have two choices, you can keep the car and make payments or you can sell and pay the difference.
Answer6hollistergurlAnswered at 2012-08-13 15:30:02
If the car is in your name , report it stolen and get it back - at least then you have the car
.
Never do that again !
Answer7delishaAnswered at 2012-08-14 16:36:02
call the local police department . and get to go with you to collect your car. I mean its in your name so technically it's yours. You probably have to take the cut or sell it and pay it off . Never do this again , is the easiest way to lose a friend and ruin your credit .... Also talk to your lender and see if you can help. reposess ( sp? ) that
Answer8ValentinAnswered at 2012-08-17 03:31:04
What happened to love someone so much that you simply can not afford to risk losing through a loan from a fool?
Answer9JoyceAnswered at 2012-08-20 19:57:27
Well report it stolen. If the car is in your name then your technique your car . No matter if you have an accent or not. Registration must be in your name if you have the loan . They used to put the record in anyone elses name that is not in the car . If anything get the car back . Leagally the car is yours . The police have the car wherever it is . Or call the loan company and tell them you want the car repoed because you can not pay for it anymore. Tell the company reported and where the car is going to bring . Never lend or borrow money to freinds and family. Most of the time end up ruining their credit and the relationship he had with them . You have 2 options : call the police and report it stolen and tell them where you think maybe the car or call the loan company and tell them where the car so they can go repo the car . Sorry to say I had to learn the hard way . Make sure you still pay the car loan after I take so that your credit is ruined much for having a deficiency balance out there.Or you can just take the car and drive it yourself if you want to pay for it. Sell ​​it if you want or if it is better than what you have now sell what you have now and save the car. You have lots of choices here on what to do with it . Their potential is not a total loss . No matter what you need for the car. Good luck and God bless .
Answer10zacharyAnswered at 2012-08-27 13:27:17
Probably nothing . Valuable lesson learned - do not be gullible ! ! ! !
Answer11IngraAnswered at 2012-08-31 08:35:03
Tell him you need to sell the car to bring it back . Sell ​​your car so you can obtain and repay the loan or keep the car yourself and sell the one you have now .
Answer12OnriAnswered at 2012-08-31 17:12:03
First, you need to verify that the name of the other person is not on the loan. If your name is not on the loan, they would have as much of a right to the vehicle as you. Once you have verified that the loan is in your name only, you should contact the police and let them know of your situation. Make sure you have all your questions when you call. Ask them how they can repo the vehicle. Ask if you can report the vehicle stolen. Ask if you should seek help from the police vehicle Repo. Most likely advise you on what is the law in your state. Most likely to be able to get the vehicle returned to you with your help. MedlinePlus This is evident at this point, but you should never sign for a vehicle of another person, especially if your name is not on the loan. MedlinePlus Another option: if you are really ready to pay for the vehicle, you must locate the vehicle, call the creditor and let them know that you would voluntarily surrender the vehicle. Do not let them know that someone else has the vehicle. The advise of their legal responsibilities before regaining possession of the vehicle. You must not let that dissuade you from delivering the vehicle. He will arrange to collect your car so it will not be directly involved with the repo. You will not automatically receive the vehicle unless you contact the creditor after the vehicle has been repossessed and let them know you want to redeem the vehicle. If you let the creditor to keep the vehicle, it will sell to a seller in an auction and you will be responsible for the balance remaining after the sale. The receive much less for the vehicle than if you were to try to sell the vehicle yourself. If you can afford to pay car payments yourself, then do it. If you can, then try to sell the car. If you can not sell the car, contact the creditor again and let them know that you would like to deliver the vehicle. If you can pay off the vehicle at any time after the initial recovery, go ahead and do it, but not reward the vehicle until it is in possession of his creditors. The last thing you need if you have that "friend" driving a vehicle that has paid off.
Answer13Annabella RichardsAnswered at 2012-09-05 02:42:04
Is the car " title / registration " in your name or your friend ? MedlinePlus MedlinePlus Since the car is not paid in full, you may not have a title ( pink slip ) , so the only thing you can do is reposses vehicle . MedlinePlus MedlinePlus See if you can talk to your friend about the situation , but a lesson learned is to never lend money to a friend unless you upfront that are never paid .
Answer14LiathAnswered at 2012-09-10 16:10:02
Judge Judy tackles this question a lot . Try there. But if you are stuck with paying the loan off , consider it an expensive lesson in life and never finance or sign for anyone ever again . Many men are users but it can not happen unless you allow it. Consider yourself lucky to know that this is a user before becoming more deeply involved .
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