Car loan

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Car loan

I purchased a vehicle and financed it under my
name for a friend, who uses it and pays the
monthly note. I do not wish to have the vehicle
under my name any longer and want to sell the
vehicle. My friend does not not want to buy it
and is not cooperating to return the vehicle.
What action can I take?

Asked on April 10, 2018 under Business Law, Louisiana

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 2 years ago | Contributor

If you are the only person on the title, you have the right to sell it to whomever you want. You also have the right to take it back from your "friend." If he will not return it to you, sue him for the value (current blue book value) of the car, since if someone withholds your property from you, you can sue him for it: the suit could be resolved or settled by him returning the car.


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