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Just wanted to get a few opinions

  • Thread starter Thread starter shlby123
  • Start date Start date Jan 5, 2007
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shlby123

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Apr 19, 2002
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Dallas
Jan 5, 2007
#1
  • Jan 5, 2007
  • #1
Hey everybody I got kinda a serious question to ask about something. For nearly a year now I have been buying old mustangs, camaros, firebirds, and misc. import sports cars to bring them back to life and sell them for money. I have tried my best to be courteous and friendly and understanding towards the people I sell to. Well, so far I have only owner financed two cars in the first year so far. The first deal started out rocky but has smoothed out quite a bit. But the other deal I financed out..well I took only a $100 down payment after we originally agreed upon a much larger number, out of stupid kindness I guess. The guy had a good job and stable life...even had decent credit! Though I gues that doesnt mean a whole lot. Well. I let the guy go a whole month and some before his frist payment and even let him choose what day in December he wanted to start his payments on since Christmas can be such a fickle time with money. I at least needed something before Christmas and was really needing the money for family and spouse's gifts..Guy pretty much ignored my emails and such. And days after Christmas offered to give me several hundred less than what we even agreed upon (written agreement) for monthly payments...I told him no, and have been asking him for 2 weeks now for the full payment up front only to be ignored more. I have the title, it is in my name, and I know (but he doesnt know I know) where he works. Would I be wrong at this point to take my car back? Two months for $100 is just too long to justify for me?
 
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kevin2m4

New Member
Mar 16, 2004
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Barrie Ontario Canada
Jan 6, 2007
#2
  • Jan 6, 2007
  • #2
you should realize that you arent a finance company and youre leaving people wide open (especially the type of old car buyer ususaly arent rolling in cash) to get screwed.

i would make friends with a lawyer, or bang a law student, and have them type up a nice polite letter demanding full payment -put it ont heri law letterhead.

if not then take them to small claims court.

i presume you have their ssn or sin # home address home phone and 3 references since you financed these people.

when i worked at one of the big 3's finance company i was next to the recovery department, i could look up how much the guy made a year, his payment history, his broken payment promises, if he filed bankruptsy and why, and how much his house is worth.

i always heard stroies of us repoing brand new LEASED suv's, sending them to auction, getting 1/2 the cars value, then charging the cust for the RESIDUAL difference=total value minus what we got at auction. cant pay? we will sell your house.

you may want to rethink your 'dont have the cash? you can pay me whenever' thing you have going on.

not to bash you but you need to call a lawyer. now.
 
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kevin2m4

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Mar 16, 2004
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Barrie Ontario Canada
Jan 6, 2007
#3
  • Jan 6, 2007
  • #3
oh you have the title and the keys? REPO THE CAR

im sorry if you are a nice guy

but you have to do this

he wont take you seriously.
 

grey5.0beast

Cookies should never be DUNKED!!!
Aug 3, 2004
0
1
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atl ga
Jan 6, 2007
#4
  • Jan 6, 2007
  • #4
 
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shlby123

Founding Member
Apr 19, 2002
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Jan 6, 2007
#5
  • Jan 6, 2007
  • #5
Well, I did it last night. I didnt know what other choice I had? I wasnt a thug or ******* about it. My brother and I went over to his house in a very non-threatening manner (but at least wanted to have one person with in case I was attacked or something.) and knocked on the door once. And my brother sees somebody tall peering through the blinds at us and he waved and asked politely to talk to somebody who lived there. We had each of our girlfriends in the cars outside so there would be no mistaking that we were not there to cause trouble....still nobody answers...knock again and louder this time....no answer...ring the door bell...no answer....knock ONE MORE TIME.....nothing....We knew he was home and the car was sitting out in the street. At that point I took the extra keys opened the door and we all left...He called my cell phone and I did not answer....He left a message screaming obscenities, trying to tell me that I didnt knock on the door or anything and (major lie there were 4 of us...tough to refute) He claim to "know where I live" and said he WOULD be getting his car back. Saying some crap about how he called the PD of the city I live in and that they'd be meeting me at my house? And Im thinking to myself "and do what exactly?" Watch me scrub the car down to the stink out of it? So frustrating
 

wythors

Get off my lawn!!!
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Jan 6, 2007
#6
  • Jan 6, 2007
  • #6
The car is in your name and wasn't paid for. I would have just called the cops and reported it as stolen. The guy's luck he's not in jail.
 
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kevin2m4

New Member
Mar 16, 2004
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Barrie Ontario Canada
Jan 6, 2007
#7
  • Jan 6, 2007
  • #7
i was about to suggest to call the police before you pick the car up
 
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kevin2m4

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Mar 16, 2004
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Barrie Ontario Canada
Jan 6, 2007
#8
  • Jan 6, 2007
  • #8
you still may want to call the police and tell them you rpeoed a car you sold to a non payer, they will like you doing that -it will save them paper work.
 
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shlby123

Founding Member
Apr 19, 2002
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Dallas
Jan 6, 2007
#9
  • Jan 6, 2007
  • #9
Yeah I will have to go to the courthouse (Ft. Worth is a bigass city so this wont be fun) and get the necessary paperwork started.
 
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kevin2m4

New Member
Mar 16, 2004
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Barrie Ontario Canada
Jan 6, 2007
#10
  • Jan 6, 2007
  • #10
you also may want to hide the car in a locked garage
 
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kevin2m4

New Member
Mar 16, 2004
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Barrie Ontario Canada
Jan 6, 2007
#11
  • Jan 6, 2007
  • #11
you also may want to hide the car in a locked garage
 

5.0 Nostalgia

10 Year Member
Feb 28, 2003
904
5
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CT
Jan 6, 2007
#12
  • Jan 6, 2007
  • #12
wythors said:
The car is in your name and wasn't paid for. I would have just called the cops and reported it as stolen. The guy's luck he's not in jail.
Click to expand...

Me too.

I also agree with kevin2m4. Call the police and let them know what happened. Also, make sure you save all the paperwork from this transaction.

If he wants to come back and get the car, let him. As soon as it he takes it, report it as stolen.

Just out of curiousity, what kind of car was it and what kind of condition?
 
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shlby123

Founding Member
Apr 19, 2002
579
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Dallas
Jan 6, 2007
#13
  • Jan 6, 2007
  • #13
well, he just left a message on my phone saying that he knew where I lived and would kill me if I didnt return it. I wish I could say I was worried but the addy he has for me hasnt been valid for a long time. I've been keeping the car in one of my garages until it sells again. It's nothing fancy just a '94 Z28 in pretty good condition (for an LT1) and then the loudmouth catback exhaust he added.
 

Bad92GT

The 5 Minute Plan Man
Jun 10, 2004
492
0
0
SC
Jan 6, 2007
#14
  • Jan 6, 2007
  • #14
lol.. free exhaust.. still have the voicemails on your phone? take em to the police.. it would be interesting to hear his excuse for that one.. i wouldnt worry about it.. considering your in dallas, i assume you have a gun of some sort around that you can use for your own protection.. just tell him if he evers comes on your property you'll shoot him for trespassing.. thats what i do to people i dont want around here
 
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shlby123

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Apr 19, 2002
579
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Dallas
Jan 6, 2007
#15
  • Jan 6, 2007
  • #15
Proud CHL holder. I recorded both of his threatening voicemails. Only a stupid kid would make death threats recordable. Any leg he had to stand on for getting that car back just went down the ****ter I think. It's a shame. He was a pretty cool guy, just couldnt hold up a bargain.
 

jrichker

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Mar 10, 2000
27,512
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Jan 6, 2007
#16
  • Jan 6, 2007
  • #16
PM tunedin302 - he's a real live lawyer. He's been nice enough to give some free advice to the guys here.
 

poneypower89

Now everyone in the world will know I wanna bang t
Dec 6, 2004
0
3
28
Indianapolis, Indiana
Jan 6, 2007
#17
  • Jan 6, 2007
  • #17
In any case... I hope you take this as a learning experience.

Mistakes like these can't be made if you expect to make this little venture a profitable business.
 

Roland69

Sergeant Tangnet
Sep 17, 2005
2,867
3
58
Port Elgin, Ontario
Jan 7, 2007
#18
  • Jan 7, 2007
  • #18
your fine....just tell the police what's up
 

TC93

Well-Known Member
Sep 11, 2000
2,075
1
57
Ellerslie GA 31807
Jan 7, 2007
#19
  • Jan 7, 2007
  • #19
Definitely get a lawyer...

Send him a certified letter stating he can have the car back if paid in full only, since the written contract was broken on his behalf. If not acceptable then to please quit threatening you because further LEAGAL action will be taken. All you have to tell the police is you feel threatened that this person may cause personal harm to you & your family. Pretty sure if he has a calling from the local authorities arresting him on Terrorist Acts he will be singing a different tune..

But you definitely need to have legal action and have everything on record in-case this does go any farther. Just have all bases covered....
 
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shlby123

Founding Member
Apr 19, 2002
579
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Dallas
Jan 8, 2007
#20
  • Jan 8, 2007
  • #20
I dont know how but he was able to find my address. Now the death threats have increased quite a bit. He's telling me he gave my address to a bunch of people. just great.
 
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