Question:
I sold a car to my nephew for $4400, initially he paid me $2000, leaving $2400 that he owed. The first month he paid me $500, therefore only having to owe $1900. It has now been one year and he has not paid anything else on the car; I am going to take the car back from him. Should I pay him something for the car, though he has never paid me anything for it since the first month, or should I just consider it a "REPO" and tell him to go pack sand?
side note... this is business not family matters.
Answers:
Seller will not send title to motorcycle. Can anyone provide some advice?
take the car backjust like he know's he owes you 1900.00
Take him to small claims court.
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Go take your car back, he got 12 months with no payments.I want to sell my car . which web site get the best response ?(NW6)?
Good Luck,
Give him a warning, if he still refuses to pay then repo it.
Do you think i can find a new taho for this much?
I hate to break the news to you... but when you're dealing with FAMILY there is no difference between "Family Matters" and "Business".You sound like you subscribe to the "tough love" technique.
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Forget he's your nephew.
What would you recommend a first time buyer of a new or pre-owned vehicle?
Go repo the car and return his money paid to you MINUS a percentage (decided upon by YOU) due to depreciation of the vehicle while he drove it.
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I hope you had the sense to hold the title until he paid.. because if you didn't... it's HIS car.
This should be a lesson to alot of people! Don't mix family with business! I didn't have to read the details of the question before knowing what happened!
Do we have to pay sales tax on something we've purchased twice?
Good Luck.
I am looking at 2 vehicles, which would you choose?
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Which is the best car? A 2003 MazdaProtege5 auto. or a 95 Celica GT manual?
Get the car - he's had plenty of use of it. It's depreciated over the past year, so your resale value has dropped, not to mention wear, tear, and mileage.Anyone used Costco Auto Buying program before?
i have been through the same thing with my stop son,kind of like you after a year i went after the car,and i didn't pay him nothing back for it,i think what got me the worst was that he avoided me on it,so i took it,like i told him,its not personal,its just business,so if i was you id take it back,you don't own him nothing,so if you do want to give him some back,that's totally up to you on that part of it,but i had to set my step son down and explain this to him,you have one of two choices here let the whole thing go,or take the car back and sell it,sometimes its a hard decision to make,but sooner or later teen agers have to learn they you have to pay your bills in life,or your going to loose things,good luck,i know its s hard decision to have to make.Need a carfax report?? I just got a free month!?
depends on the written agreement you 2 had. if it states something in the agreement that if buyer fails to make timely payments, then veh will be repo'd, then you got him. if it dont, then 1st) you should know better, and 2nd) you gotta take him to court. when a car gets repo'd in the real world, you dont get any kind of refund from the finance co. i would repo it.Would you rather have the 2007 Honda CRV or the Nissan Murano.?
Take the car and let him pay for the rest of it. Tell him 1,900 more and he can have it back. If the 1,900 is hurting you take the car bake sale it and give him everything you get over 1,900 minus the money it cost you to sell it. Nothing is more important than family.Should I buy GMC Envoy 2003 with 101K miles on it?
1. Call him and ask what's up. If he's having financial problems, then ask him to pay whatever he can, even $50 a month will do.2. If #1 doesn't work, then talk to his parents. If this also goes nowhere then go to step 3.
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3. Repossess the car or sue him in small claims court.
Who has a car for sell in payments?
But don't think this is "just business". it may be to you but not to him. He may think his uncle is an asshole for taking him to court or taking back the car. And don't expect to be welcomed at any family gatherings because the majority of the family will side with the kid. This is exactly why you don't do business with family or friends.
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