Legal Question in Consumer Law in Virginia

Vehicle Sale

My husband and I own a 1994 Ford Expedition (it is not financed). It is a 3rd vehicle and we were planning on putting it up for sale last July, just to have the extra cash. My husband's sister's boyfriend (convoluted I know) asked to buy it. Well, when he went to the bank to get the money, they turned him down. He asked if WE would finance it for him. AGAINST MY BETTER JUDGEMENT, my hub decided to write up a brief contract and have him sign it and sell it to him.

The terms of the contract basically said he was buying the 1994 Frod Expedition AS-IS, for a total of $5,100. Payable in installments of $800.00 a month until paid off. We (my husband, myself and the boyfriend) signed this on August 3rd 2007.

Since we figured it would be paid off in 6 months time, we STUPIDLY were letting them drive the Exp. while it was insured under us, we did not add them to the policy, simply because it was so expensive to do so, my hub and I have no claims, no tickets and get a great rate on our insurance and didn't want to risk our premium going up.

SO ANYWAY, the boyfriend has taken GREAT care of the Exp. He had a new transmission put in, and keeps up with the maintenance wonderfully. It really is in as good of shape, if not better than when


Asked on 4/30/08, 12:03 pm

1 Answer from Attorneys
Michael Hendrickson Law Office Michael E. Hendrickson

Re: Vehicle Sale

So, your question is what, something like is this an acceptable arrangement? Answer, no, it is not and your hub flubbed it. Look out, because it's very likely just a matter of time before Mr. Liability comes acalling on your household if this

particular arrangement persists for any length of time with you and your insurance company on the hook for this boyfriend who's doing such a great job of maintaining your vehicle---but, apparently, not very much when it comes to paying it off and getting his own insurance coverage.

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Answered on 4/30/08, 10:15 pm


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