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Car loan
I took out a car loan for a friend, but title is in his name. He has not paid me. Still owe $4,000 he isn't driving car, has dropped insurance. Can I pay off loan and sell car? Will I get title sent to my address once loan paid off as loaning agency only has my address
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I don't understand how this works... you took out a car loan but the title is in his name? Your name is nowhere on this title?
If your name isn't on the title, then I don't know how this loan could have worked... but anyway, if your name is not on the title, you have no real legal claim to the car. |
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The lender has your name and address, but the DMV has his (from the way you make it sound) on the title. Paying off the loan only drops the lien from the title, not the owner. You basically gave away a car. You will have to sue in small claims, and hope you can prove that it wasn't a gift.
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