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yes, you are in a legally binging contract if you are both over 18 years of age and are therefore able to repossess the car.

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โˆ™ 2006-05-15 14:08:00
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Q: Can you repossess a vehicle that you sold to a friend if you have a written contract for the sale of the vehicle?
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Can you repossess a car which you sold to a friend with a written contract stating that if payments are not made as agreed car will be repossessed?

YES.


How can you get your car back you leased to a former friend that defaulted on the payment?

Hopefully, you had the good sense to put a lien on that vehicle. You can have a recovery agent repossess the car.


What are the proper steps to repossess a motorcycle you financed for a friend?

depends on what state you are in.


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.


Can you legally repossess a car you sold to a friend with a contract and the title is in your name?

Absolutely, if the friend has not paid the payments that were agreed upon in the contract you can absolutely go and reposess the car, just before you do, ask yourself how good of a friend this is, maybe they are going through a hard time a need a little break from you, if you want the car back worse than you want your friend, then by all means, go and get it, might want to go to the local police office and get a police officer to go with you just in case there is a problem.


How can you repossess a car in Missouri you sold to a friend with only an oral contract that he would make monthly payments?

If you did not give him the title, all you need to do is go get the car (hope you kept the spare key). If you did sign the title over to him with no documented agreement concerning the payments, you have probably given your (ex)friend an expensive present.


Can you be added to a friend's car insurance?

You can be added as a driver if you driver their vehicle sometimes but your vehicle cannot be added to their policy. The policy needs to be in the name of the person who owns the vehicle and all drivers and household residents should be listed on the policy as drivers or just residents. If you put your vehicle on a policy in a friends name the insurance company will deny the claim if an accident occurs. You sign a legal contract and state such in the contract.


If you sold a truck to a friend and there is no security agreement and no title can you still repossess the truck for failure to pay?

If you've already signed away the title, no. The old wisdom goes something like: "A verbal contract isn't worth the paper it's written on." Not really much of a friend, is he. * Verbal contracts are binding in all US states. The difficulty is in proving one's claim. If the seller has proof that the buyer made any amount of payment, has witnessess to the transaction, then a case can be made. Such a case, as indeed in lawsuit is not guaranteed a specific outcome. The other issue is the exact meaning of "no title". If there was not a clear title to the vehicle then a valid sale is not possible. The orignal owner can obtain a copy of the vehicle title from the state DMV. A buyer who simply has possession of a vehicle with no proof of previous ownership/seller cannot legally register or insure the vehicle.


F a car was repossessed two years ago and you put an old car that a friend had on the road can they come after that vehicle for the money still owed after auction?

No. They can repossess their collateral (the car which was repossessed), and they can send a collection agency to hound you for money, but they can't confiscate your property.


Is canceling a dinner date with a friend a violation of a contract?

No.


You got a auto loan for your friend who agreed to completely pay off in full she failed to do so and now the bank wants to repossess will a written agreement between her and you hold up in court?

If you have a written agreement to show in court it cant hurt. It depends on what is in the agreement. Take this to court with you it may help.


If you sell a friend a car and he defaults on the loan can you take the car back if the title is still in your name?

Was there a written contract between you and your friend that listed repossession as a cure for non payment? I would consider contacting an attorney on this one.

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