need advice about car repo... - NJFBOA - Home of New Jersey's Camaros and Firebirds

V · 10-08-2006, 11:38 PM

ok, a few months back, i sold my 94 z28 to a long time friend for 1800. He paid me 500 up front and then another 500 2 weeks later. that was fine, but it took me then like 2 months to get another 200 out of him. So now he still owes me 600. He got fired from his landscaping job and afaik, the car is still parked on his bosses lot(he never registered/drove it yet since i needed to fix the taillights and it needs to go on a frame machine quick) My friends is now really into drugs and can barely pay his rent, not to mention his truck payment and insurance. Now, i need the money asap and i can't wait another 6 months to get 600 bucks, so i am looking at taking the car back. His old boss would most likely let me so thats not a problem but I dont see any other option i have. Should i tell my friend to give him one last chance to pay up, or grab the car first, and either give him 1200 back right away or part it and then give him the 1200 once its cut up.... I've known him for 8+ years and honestly didnt think hed pull this, but the drugs caused it i believe... any opinions?

r0nin89 · 10-08-2006, 11:43 PM

Give your buddy his money back, take the car. If hes really that good of a friend tell him to use that $1200 to float while hes in rehab. Its the best thing you could do for him is try to be a friend and help him get back on his feet. I dont know what kind of drugs your talking but cold turkey barly works for cigs let alone alcohol,blow, heroin, ect.

V · 10-08-2006, 11:47 PM

crack coke heroin....all the above plus some. rehab isnt an issue for him, he got better for a while, but is a lost cause now, he used to weigh around 200, but now is like 140.

problem is i dont have 1200 to put up right now, id have to cut the car, sell parts then i could pay him back. i'd have to borrow the 1200 in order to pay him back right away but id rather not because that creates more issues and concerns.

Knipps · 10-09-2006, 12:27 AM

i think seeing as you dont have the money to pay him right away give him an ultimatum to come up with the money... just for old times' sake... is it imperative you get the money ASAP? not to mention it may cost you something to get the car back. i dont believe you can legally just go and take the car... something to look into first.

unstable bob gable · 10-09-2006, 12:33 AM

If he is smokin' up his $ that quick, you may never see your $. I'd tell him the gig is up, take the car, and pay him back at YOUR own pace.

And never do business with friends, unless it is cash and carry!

V · 10-09-2006, 12:33 AM

it wont cost me anything to get the car, and i know he cant coem up with anything more thna maybe $50. I need the cash asap to pay my bills so waiting much longer is not an option. And as far as the legal issue, techincally its abandoned on his old boss's property(i know his boss) and it was never registered in his name so i have every right to it still, besides, if he got his money back, im sure he wont care about it.

edit: and on a side note, it would take me 24 hours at most to have the car gutted and the shell cut up into dumpster size peices

Knipps · 10-09-2006, 12:47 AM

If you're gonna chop 'er up
ive got a 95 RS, anything that i could get and have a use for i'll take

V · 10-09-2006, 12:59 AM

Car is a '94 z28, so it has the LT1, lingenfelter 52mm TB, built tranny, mint interior(hardtop), basically mint exterior, disc brake rear(non posi)

Rich189 · 10-09-2006, 03:13 AM

id get the car back first then worry bout your friend... if hes that into drugs you never know what he will do to get more... its sad it happened to a friend but i knew a kid who got into coke and x and ended up stealing his parents jewlery savings ect to buy more

BonzoHansen · 10-09-2006, 07:15 AM

I have a friend kind of like that, but I didn't sell him anything. He needed $$ fast and was selling stuff. The question was if it was OK to buy something from him cheap & turn and sell it for a profit. Some of my other friends discussed this and basically said "F him. Better we profit then a stranger." There is of course a history here.

But back to your question. Who has the title and do you have a written 'loan agreement'? If the answer is him & no, then you're technically screwed.

If you do, I'd go get it, resell it.

johnjzjz · 10-09-2006, 07:49 AM

First thing to do is go to the guys boss see if he will give you a letter ( in writting ) letting you remove the car - ( cha ching ) deduct from the total 2 / 400 for removal than its storage 25 bucks a day --- but if you gave him the title and it wasn't in your name -- well its scrapo -- if it is in your name re apply for a new title --- and with the permission from the x boss to remove and the storage and the time it will take to get the title back --- you will own it -- and of coarse you will have to let the guy know in writing return signed receipt from the post office letting him know the charges for removal and the storage for the default of the handshake loan -- from you anything else will get you in a jam with the cops -- junkies think they are jail house lawyers he will cause you more bull than you can stand -- do the paper trail and if you end up in court you will win with a paper trail -- jz guy who bought the 305 --

V · 10-09-2006, 08:02 AM

the car does have a bent unibody, so re-selling it isnt a real course of action id take. My friend had previously worked also at an autobody shop and his price to have it fixed was about 300. Thats the main reason the damage didnt bother him. I can get the title back from him, thats not really my problem, i just dont know if i should just give him more time or tell him thats it and we are "un-doing" the deal.

I had a smiliar situation with another kid, a friends friend, he bought a 84 z28 from me, beat the crap out of it crashed it and then wouldnt pay the rest he owed me. He had it titled and everything in his name, I took him to small claims court and easily won and got 200 bucks more than i had agrred on in the first place.

BonzoHansen · 10-09-2006, 08:09 AM

You gotta stop being the bank. Sell stuff, don't grant loans.

Get the title back from the guy, sell it or part it out. Get your $$ back. Anything on top of that, maybe split with your friend.

dan · 10-09-2006, 10:57 AM

if he defaulted on payment..your doing a repo..and you dont owe him a dime..

qwikz28 · 10-09-2006, 11:00 AM

Quote:

Originally Posted by dan

if he defaulted on payment..your doing a repo..and you dont owe him a dime..

yup... legally you dont owe him money. what your doing is cause he's a friend. take the car back, chop it up, then decide if you wanna give him back his money. is any of this in writing?

jims69camaro · 10-09-2006, 11:38 AM

Quote:

Originally Posted by qwikz28

yup... legally you dont owe him money. what your doing is cause he's a friend.

this is so true. however, that is usually with a bank or other loan institution and a repo company, so i don't know if the same laws would cover you in the situation you are in. if the car is still in your name, you have the right to go get it. just go to DMV and ask for a duplicate title to show ownership to the Boss or the cops, should they get involved. remember, CYA.

please learn from your lesson here and stop letting people buy on time payments. especially friends. this is the reason why you haven't shut him down before now, and it sounds like enough time has passed that you would have if he wasn't "a friend". btw, "friends" don't usually stiff each other - while there may be a whole lot of history that you haven't told us about, you should always take care of your friends first. i would have probably called the finance company (for the truck) and asked them if i could skip two payments if i was in a financial bind, in order to pay a friend first. you'd be surprised how lenient banks can be when you communicate with them.

most people, i am finding out, do not think like i do. that may be a good thing, come to think of it...

Bandit · 10-09-2006, 11:50 AM

I repoed cars when I was in my 20's. One you need to give notice that he is late with payments (certified mail) If payment is not made you can repo the car and charge him all the cost. You can go to small claims court and sue him for the balance and legal cost. That is if you have a note that this person agreed to pay you said amount and show proof of payments.

No Note - You are SOL

or

It sounds like a **** box car that you could not re-sell and might as well walk away and call it a lesson learned.

maroman88 · 10-09-2006, 06:07 PM

Quote:

Originally Posted by SmokingSS

Car is a '94 z28, so it has the LT1, lingenfelter 52mm TB, built tranny, mint interior(hardtop), basically mint exterior, disc brake rear(non posi)

once again the poor F-Body is stuck in the middle! if its so nice fix the frame for the 300$ u sed it would cost and park in on a busy corner with a sign for $4200, once u reclain it that is

BrandonDrecksage · 10-09-2006, 09:35 PM

take is back..chop it up. don't give him a dime till he gets back on his feet. He'll jsut use the money to get ****ed up and o.d. If he is better..and if he is still a friend...give him some of the money.

iamsickofitall · 10-09-2006, 09:53 PM

you will NEVER get money from a junkie...nor do i think you will get the title from him. good luck. he's going to want to help himself and clean up before he gives that title or money to you. while he's using, you have no hope

WildBillyT · 10-09-2006, 09:55 PM

Quote:

Originally Posted by BonzoHansen

Get the title back from the guy, sell it or part it out.

Does the other guy have the title? If you still have it, there is your ultimatum.

BonzoHansen · 10-10-2006, 07:19 AM

Quote:

Originally Posted by BrandonDrecksage

take is back..chop it up. don't give him a dime till he gets back on his feet. He'll jsut use the money to get ****ed up and o.d. If he is better..and if he is still a friend...give him some of the money.

You do realize if the guy re-titled it, that is selling stolen proerty, right? Remember the comment about jailhouse lawyer. Druggies cannot be trusted and will turn on you ina heartbeat, no matter how long you've been friends.

V · 10-10-2006, 07:43 AM

well before i get all worried about what "could" happen, i gotta first talk to my friend and see what the deal is. I'll explain to him about the money situation. I'm 95% sure i'll take the car back and then give him the money back over time. He is a good guy, just got into the wrong things... so before all the court/law talk, lemme talk to him.

dan · 10-10-2006, 09:40 AM

good luck man