friend bought car on promice note

[walker2me]

my friend gave me $500.00 down on my car i was selling for 1,800 and sighned a promice to pay with monthly amount agreement drove car for a week and now it is broke down and they put 400.00 into car and it is still not running, car is worth $2.600 and now she won't pay the rest even wants her $500,00 back but i feel i should a least get some more for the car she drove it for a week. what can i do connie in minneapolis,mn

 

[cornell]

You should take the car back. I wish I could say what I really want to say. You call this person a friend but yet you still want to take advantange of them. What could this person possibly have done to the car in less than a week to make it not run anymore. This is just my opinion,probably help you sleep at night and avoid more pain to the person having to go through this. Take the car back and call it the day. Think about it, would the person have a problem paying for the car if it was running. Put the shoe on the other foot.

 

[walker2me]

there is more to it then that

i had the offer on the table the week the car broke down she turned it down so it no longer is an option i lowered it to 1,000 total and thats with the 500.00 aready put down I did not sell a lemon and not getting into detail about how the car was treated in that short of time i am now thinking of sending her a default of agreement and demand of payment she did agree when she signed the promise note she would have to pay all attorny fees so if it goes that far then it does. all i really need to know is how many letters and months go by before i have to go to court if she doesn't pay

 

[JETX]

At this point, you have two choices; you can either do the 'feel good' recommendation that was made and rescind the deal (costs you $$, with a SLIM chance of saving a 'friendship??), or you can do the practical thing of enforcing the contract. In either case, this is another example of why friends shouldn't loan money (or sell things) to each other!

If you decide to enforce the contract, do NOT take the car back. That could weaken what appears to be the strong position that you have. You have a contract, signed by the buyer, promising payments to be made. As long as you didn't make any warranty promises or have any 'money back' agreements, she has breached that promise and your 'friendship' has absolutely NOTHING to do with it. (My question... what value has she put on the 'friendship' in trying to MUTUALLY resolve this problem??? That will tell you the 'value' of this 'friendship'!)

Send her a certified letter RRR and (tactfully, but sternly) demand payment of the unpaid balance or you will be forced to take legal action. Give her a reasonable amount of time to respond (7 days??). If she doesn't, then take her to Small Claims court. If the facts (and documents) are as you presented them, you shouldn't have any problem getting a judgment. Then the only problem will be in collecting the judgment.