Repo Questions!
Nov 30, 2004, 06:54 PM
#20
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Ha, I read this and I love it. It makes me remember why there are so many problems in the world - stupid, self-serving, irrational people. Tell your friend he won't get caught and if he needs extra money to make his payments, well, he can always rob a 7/11.
Actually, since he can't sell the car without the title, he could probably go on a permanent trip to Mexico. Just think, living in poverty, with a horrible job, but he will still have his Evolution!
Actually, since he can't sell the car without the title, he could probably go on a permanent trip to Mexico. Just think, living in poverty, with a horrible job, but he will still have his Evolution!
Last edited by metaphysical; Nov 30, 2004 at 06:58 PM.
Nov 30, 2004, 06:58 PM
#22
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Call the company that the car is financed with and work out terms. Most of the time the bank would prefer to not repossess the car as they lose money. It is amazing what sort of deals you can work out.
If the car is repossessed then the bank will auction it and the owner will be responsible for the difference between the auction price and the loan amount. It is much better to sell it as you will get more than at auction.
BTW -- this is a really dumb thread.
If the car is repossessed then the bank will auction it and the owner will be responsible for the difference between the auction price and the loan amount. It is much better to sell it as you will get more than at auction.
BTW -- this is a really dumb thread.
Nov 30, 2004, 07:02 PM
#25
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Also, you can't "negotiate" better terms if you aren't making any payments. They come and take the car. It may take a while, but after he stops making payments totally they will come and get the car. We buy respossesions all the time.
And I'm fairly certain they also garnish your wages in California, so keep that in mind if he really sinks his ship.
And I'm fairly certain they also garnish your wages in California, so keep that in mind if he really sinks his ship.
Nov 30, 2004, 07:18 PM
#30
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car is always there, but bad credit will be on his record for the rest of his life. it may be hard, but you dont want to screw your life for just a car. not worth it.