0
Can I get sued for car payments made on car in my name after I repo it back from friend that stopped making payments on it car was being financed through dealer N only my name was on the loan title?
Wiki User
∙ 14y ago
Short answer is Yes.
Your name is on the title. Your should consult a lawyer and go through the agreement you signed.
If you still have the car, you must pay the instalments. If you cannot afford to continue the instalments, you should try to strike a deal with the finance company to return the car and pay off any outstanding balance to that date of return. Arrange a realistic repayment scheme based on your current income and necessary outgoings - rent/mortgage, insurance, heating, food, taxes, etc. Beer and chips for Monday night football are not necessary outgoings, nor is pay-per-view cable.
If you had a written agreement with your friend to pay the instalments then you can sue the friend for the money you have had to pay out on their behalf.
Wiki User
∙ 14y ago
Add your answer:
Earn +20 pts
Who is responsible to repairs to a financed car?
For items covered under warranty, the dealer. For items which are not, the person who is making the payments on the car.
If a car is financed through a used car dealership do you have to have full coverage insurance?
If the dealer doesn't require it, probably not, but you have to decide if you want to take the chance of continuing to make payments on a car that you can't use after an accident.
Is it better to be financed for an auto loan through the dealer or through a source like a credit union?
It is often better to be through an insurance agency, often times a dealer will provide you with an insurance agent.
Can your car be repo'd by the dealer if you still owe on the downpayment even if your payments are on time to the bank my payoff on my trade was more then what i knew now they are charging me?
If the car is financed through a bank, the bank is the only agency with authority to repossess the vehicle. The dealer, once paid by the bank, no longer has any claim to the vehicle.
If you fail to complete the deposit for your down payment but are already financed and making car note payments can the car dealer repo your car for the remaining down payment?
adasdasdasdad
If your car is financed through a dealer do you have to have full coverage insurance?
I believe it depends on the state, but as far as I know, if you have to have full coverage on a financed car, it doesn't matter where it's financed. If you still have questions, ask your insurance person, they'll know the answer.
What credit score do you need to get a new car financed?
It varies according to the dealer.
Can you return a used car purchased from a dealer?
A car bought from a dealer is usually financed by a bank they want there money not the car back
What is a pick up payment in an auto loan and how is it applied?
A pick up payment is an irregular or deferred down payment. The down payment is the amount paid up front and reduces the amount financed. Some amounts may be deffered to future dates. The amounts and dates of these payments must be disclosed on your contract and are separate from your regular payments. If interest accrues off these payments depends on the state and dealer.
Can a car dealer repo your car if 720 towards the down payment is owed yet chase auto finance has financed it?
A dealership can never repo a car, the bank is the party which would because you owe the BANK (aka chase auto finance) because u financed through them.
What is it called when a car dealer gives the bank false information about a car in order to get it financed?
Fraud
How do you transfer car title when the car is financed with a different owner but I make the payments on the car?
Typically you cannot transfer the car title because the person who is financing the car doesnt even have the title, the title stays with the bank. Youd have to go to a dealer with the person and have the dealership work that out
