QUESTION
can i repo a car that i was selling due to the buyer not making the payments
Asked on Dec 20th, 2013 on Debtor and Creditor - Nevada
More details to this question:
there was no bill of sale or title transfer in this sale, and there was only a few payments made by the person that was buying it, also there was a stereo in the car that was not part of the deal this person was a friend and i thought could be trusted, he has also wrecked the car and gotten a dui in it. he was also supposed to pay us for insurance until he could get his own insurance which never happened as far as i know and has not been making the insurance payments. is there a possibility that i can take the car back as payment for what he owes?
1 ANSWER
R. Christopher Reade
The scenario which you are describing implies that you still have the title and are the legal owner of the vehicle. Thus you can undertake any peaceful manner of collecting the vehicle as it remains legally your vehicle. If you cannot peacefully recapture the vehicle, you can bring a court action for replevin of the vehicle.
You should understand that with your continued ownership of the vehicle comes the ongoing liabilities which ownership of the vehicle entails, including possibly questions of negligent entrustment of the vehicle insofar as he has been in an accident.
Answered on Dec 21st, 2013 at 12:59 PM