Legal Question in Civil Litigation in New York
A Car Loan For a Friend
As a favor, I took out a car loan in my name for someone else, in order to speed up the acquisition. The friend agreed to get a loan in his own name in order to pay off the loan in mine. He never took any steps to do so. He also did not get comprehensive and collision and has totalled the car in question. He is still paying the debt monthly. He moved to Oregon March 8th. He left his new car here, without the title. It is now April 27th and he has still not taken steps to secure a title and send it to me. If I sue him for the car title, he will then most likely stop paying his prior debt for the car loan. If I sue him for both, he will most likely quit his job. What is the best way to handle this situation? Sue him for both problems and hope he doesn't quit his job? Since I have no written proof of the car loan, and only my brother as witness, would it be a moot point to sue for the loan? Is there any way to get the title without taking him to court?
2 Answers from Attorneys
Re: A Car Loan For a Friend
You ask a number of questions. The fact that your arrangement was orally may not be that big an issue, but if you applied for the loan for him, I assume the title for the car was in your name? Also, if he is paying off the loan on the totaled car, what is the problem? Depending on how much is involved, it may make sense to sit down with an attorney to sort out the issues. Let me know if I can help further.
Re: A Car Loan For a Friend
If the car was purchased with a loan in your name you could probably apply for a title yourself.
If am misunderstanding the question, and what you are seeking is the title to the new car in repayment of the loan as a lump sum, I think you may have some difficulty.
You really need to sit down to sort this through with an attorney .
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