My question involves an auto loan or repossession in the State of: Massachusetts.
I purchased a vehicle 5 years ago. A good friend of mine needed a car, after hers was destroyed in accident . I allowed her to drive it for some time without payment, and had a verbal agreement that she would pay me back in installments, starting in March of 2013. No loan agreement in writing. Car is titled in my name, and currently there is no Lien Holder anymore, and I possess the title. However she is added in the insurance policy as an additional driver.
As you may have expected, things have gone sour between us, and now she is riding around in the vehicle I paid for. I have not received any payment at all as of yet, and have in fact spent and extra $500.00 on repairs that needed to be made.
Since I possess the title but there is not Lien holder, I need to know if I am within my rights to repossess the vehicle and if yes information about how to proceed.
I know the verbal agreement has not yet taken effect as far as the payment terms are concerned, but at present, I dont know where the vehicle is and cannot easily get it back. I have a key. I don't like doing things like this to people I care about, but under the circumstances, I feel I am being treated unfairly, and don't think that she will uphold her end of the payment agreement, now seeing another side of her. I want to sell the car, but she refuses both -to return it, or to pay for it/ buy it.
I just think things may change soon, and the car will be difficult to find later, as she doesn't have long term address . Before that inevitably, happens, or if the proposed scenario develops, what are my legal options ? No payment, can I legally repo the car , since I have the title put in my name ? Should I consider the vehicle for stolen and report it to the police, although she is added in the insurance policy as an additional driver? in fact if need to I can take it off the policy , because insurance policy is under my name too.
Any suggestions or advice would be appreciated. I realize I was stupid to do this, but the heart has a way of overcoming logic.
I purchased a vehicle 5 years ago. A good friend of mine needed a car, after hers was destroyed in accident . I allowed her to drive it for some time without payment, and had a verbal agreement that she would pay me back in installments, starting in March of 2013. No loan agreement in writing. Car is titled in my name, and currently there is no Lien Holder anymore, and I possess the title. However she is added in the insurance policy as an additional driver.
As you may have expected, things have gone sour between us, and now she is riding around in the vehicle I paid for. I have not received any payment at all as of yet, and have in fact spent and extra $500.00 on repairs that needed to be made.
Since I possess the title but there is not Lien holder, I need to know if I am within my rights to repossess the vehicle and if yes information about how to proceed.
I know the verbal agreement has not yet taken effect as far as the payment terms are concerned, but at present, I dont know where the vehicle is and cannot easily get it back. I have a key. I don't like doing things like this to people I care about, but under the circumstances, I feel I am being treated unfairly, and don't think that she will uphold her end of the payment agreement, now seeing another side of her. I want to sell the car, but she refuses both -to return it, or to pay for it/ buy it.
I just think things may change soon, and the car will be difficult to find later, as she doesn't have long term address . Before that inevitably, happens, or if the proposed scenario develops, what are my legal options ? No payment, can I legally repo the car , since I have the title put in my name ? Should I consider the vehicle for stolen and report it to the police, although she is added in the insurance policy as an additional driver? in fact if need to I can take it off the policy , because insurance policy is under my name too.
Any suggestions or advice would be appreciated. I realize I was stupid to do this, but the heart has a way of overcoming logic.
Repossession: Can You Repossess a Car That You Sold Without Transferring Title
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