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I am the lien holder of a car I sold to a friend who has not made the contractual payments how do I reclaim the vehicle?
Wiki User
∙ 9y ago
The best way to handle the situation is to simply ask for the car back. If that fails, then you can contact the police to assist you with getting the car.
Wiki User
∙ 9y ago
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If you bought a car and the title and loan are in your name but you allowed a friend to take over and now the friend has stopped making payments can you take the vehicle back?
As long as the title and loan are in your name the car is yours. Any payments missed will effect your credit. Take the vehicle back, now.
A person has a car and cannot afford it anymore and wants his friend to have car and take over the payments. However his friend lives in a different state. What state does the insurance have to bein?
Which ever state the driver lives in. But more important, the friend needs to have the car titled in his name. I sell cars, and have for 15 years. I can't tell you how many times I've seen people's credit ruined by trusting someone else to make their payments. Guess who is responsible for late payments or a repo? Not to mention the friend being in a car accident and someone gets hurt. Get your friend to get his own finance company and sell the vehicle outright.
If your name is not on the lease agreement and you stop making the payments will anything happen to you?
Depends on what state you are in and what you do with the car AFTER you stop paying the notes. Do you have a grand plan to get a free car?? Either pay the notes or turn the car in. Be a real friend and dont screw over someone. If your friend purchased the car, he probably used you as a reference. Once the payments are no longer being made, the finance company will search through all of the referenced to see if they have the car. It is best to finance your own vehicle and turn this vehicle in. If you continue to pay on this vehicle and eventually pay off the loan, you will never see the title because your friend fled. What's the point on paying for something that you will never have clear title to.
Can your financial institution have your vehicle reposessed if they don't have your current address?
Only if you are behind on the payments........ Finding your current address is about as hard as posting this question on this board. It only takes about $100.00 to get your new address from an old friend.
If a you sign for a car for your friend and they don't make payments on it and its in your name can you sue your friend?
i am not sure and you need to call a lawyer
How to register a car for a friend?
You don't. Let your friend register his own vehicle.
Can a seller just decide to take a vehicle back even when the payments have been on time This was a friend who just lost his vehicle and now needs one you dont have the title it was verbal agreement?
This is a classic case of why every transaction involving money whether it is with a family member a friend,a girlfriend etc. NEEDS TO BE IN WRITING!!!!!! What if your friend had died ??You would have nothing that tells anyone you have any interest in the vehicle.If someone won't put it in writing than walk. In your case even with your "friend" alive the burden will be on you to prove the verbal agreement since he holds the title.I hope you have cancelled checks or other documentation to prove your payments to him/her.You are going to have to sue this person to either keep the car or get your money back. Just to ask...who is the registrant of the vehicle and who's name is it insured under?If they are in your name and not your friends it would help your case.
Can a friend register and drive your vehicle?
Not in Massachusetts
Can you repossess a car that is under your name from a friend who is always late on the payments?
Yes, it is your car.
You got a personal loan in your name and the money was to help a friend out the loan company wanted collateral friend put her car title up but defaulted I paid the loan in full and have her title?
Laws governing property differ from state to state. In general, however, you don't automatically own her car by paying off the loan. You would probably need to have made an agreement with the friend, verbally or better, in writing, at the time of the loan or at the point you began making the payments. If you didn't do that, you are probably out of luck. You can sue the friend for the amount of the payments you made or you can sue your friend for the car; I hope you have documentation of those payments, you will need something to show the payments you made.
Can your friend add you to her auto insurance?
Yes, If your are driving your friends vehicle then they are required to schedule you for coverage, otherwise you would be an uninsured driver. If you are asking can your friend add you and your vehicle then that would depend on what your friends financial interest is in your vehicle. If your friend has no insurable interest in your vehicle then it would be unlawful for them to add it to their policy. But they can certainly and are in fact required to add you to their policy if you are driving the friends owned vehicle.
How can I get auto insurance and the car title in my name if I am making payments on a vehicle that my friend is selling to me but is still making payments on?
1st you will need to take yourself to the insurance office and get insurance in your name...you can tell the agent you are buying the car and have to have insurance in your name before the transfer is done. Then you take the title completed by you and your friend and the form 130u completed by you and your friend to your local tax office. Your friends name will be filled in in the box that asks for the lienholders information. This will allow you to have a title issued in your name but it will go to your friend until you pay them off. After which, they can sign to release the lien and there you go...it protects everyone. If you have any questions please call 2815363857 or email me at tishafranks@aol.com
