Paid 2/3 of money down on motorcycle with written agreement(private seller) sold bike

[Kamos1970]

What is the name of your state (only U.S. law) West Virgina

I had a written agreement to buy a motorcycle from a private seller for the sum of $1500.00 with $900.00 paid down. The agreement had an installment agreement in it with no time line nor was there a monthly amount in the agreement. I had paid $900.00 from Dec. 21, 2012 to Feb. 15, 2013. When I made the last payment I said I would have the rest by the end of March 2013, he said that was ok and there on issues. Yesterday March 11, 2013 the guy sent me a Text message saying that his wife had sold it on the 10th of March while he was out hiking. Is there anything I can do, he has offered to pay me the money back, But I have not received it as of yet.

 

[swalsh411]

Tell him he has 48 hours to return your money and next time don't buy things you don't have the money for.

 

[Kamos1970]

Thank you swalsh44

I agree on the 48 hr thing, but on the other hand you don't know anything about my finances. Do you pay cash for a car or house, maybe you need not buy if you can't afford it. In this country we all buy things we can afford that's what keeps it going. I can tell you this about myself i do not have any debt and make a pretty good living, which my ex-wife takes a good bit of a long with the Government. And your a Sr. member, I came to this site for an answer, not to about my finances. So does anyone else have something to add that will help. and swalsh44 you left out the part, if he doesn't pay me back. what to do.

 

[Zigner]

Thank you swalsh44

I agree on the 48 hr thing, but on the other hand you don't know anything about my finances. Do you pay cash for a car or house, maybe you need not buy if you can't afford it. In this country we all buy things we can afford that's what keeps it going. I can tell you this about myself i do not have any debt and make a pretty good living, which my ex-wife takes a good bit of a long with the Government. And your a Sr. member, I came to this site for an answer, not to about my finances. So does anyone else have something to add that will help. and swalsh44 you left out the part, if he doesn't pay me back. what to do.

Actually, you DID have debt up until the other party breached your agreement.

Seriously, you bought something you didn't have the money for - by definition.

 

[HomeGuru]

Most interesting. Get legal advice and as a bonus, get advice on finances at no extra charge.

 

[Kamos1970]

Agreed true, in the way you put it. Do you have any loans(house, cars,boat etc.). If so you bought with out the money. Something you're coming down me for. some times you have the money but work out other ways to do business, so your capital remains the same. An interest free loan, while my money is in the bank earning interest. Any how I don't really what to sit here and explain myself to you and how I do thing and the reasons. If you don't have anything valid then more on. Thank you for your time and I will take what you said into consideration in the future. NOT

 

[Zigner]

An interest free loan, while my money is in the bank earning interest.

Your $600 in the bank earned, at most, $1 in interest

 

[HomeGuru]

If that at all.

 

[Zigner]

If that at all.

I agree - I was being VERY generous in figuring the interest

 

[swalsh411]

Volunteers are free to give any advice they choose to give, whether it be legal, personal, financial, or otherwise. Occasionally personal hygiene advice is warranted. If you don't like that then pay a lawyer to tell you what you want to hear.

If you don't get a refund, sue in small claims court. I hope you have something in writing to show what the payments were for.

 

[Mass_Shyster]

You can sue for the value of the motorcycle minus anything you still owe on the original contract. Unless he was offering you a $15,000 bike for $1,500, it's probably not worth the expense of litigating the issue.

 

[Kamos1970]

You can sue for the value of the motorcycle minus anything you still owe on the original contract. Unless he was offering you a $15,000 bike for $1,500, it's probably not worth the expense of litigating the issue.

Thank you Stevef, I thought that may be the case and was wanting conformation.