My question involves a consumer law issue in the State of: New Jersey
Hi.
I would like to know our rights, or legal recourse, if any, in a current situation.
Mid 2015 my husband went with his friend to a Harley Dealer. Unbeknownst to my husband, the visit was so his friend could buy a motorcycle. In the course of the purchase, the friend wanted my husband to also purchase one. My husbands credit wasn’t good. The friend offered, and insisted that he’d put a $5000 down payment and co-sign for my husband. My husband went along with it.
My husband made the payments, except when he had a heart attack over a year later, and the friend made the payment, but then, even though we made the payments, they were always a couple weeks late. His friend never complained and was understanding. Then, in 2017, right before Christmas, he told my husband that he wanted to go and pay the bike off, and my husband could make payments to him. Even lowering the amount per month so that we could handle it with no problem. They never actually went to pay it off until a month or so ago and the friend said we didn’t have to make any payments yet...since the weather is bad and hubby works construction.
So, something happened a couple weeks after my husband’s heart attack, where the friend made a pass at me. My husband never said anything to him, because of the connection with the bike. Then a week ago, the friend said something (unrelated to the bike) that caused my husband to confront him about the incident. The friend denied it, of course and the next day sent a guy with a trailer to get the bike.
Now, I understand that the friend owns the bike, as when he paid it off, he had the title transferred into his name, but what about any money we paid? I estimate we paid about $10,000. Even if we deducted the $5000 down payment, does my husband have any right to any of the rest? He rode it, so do we just look at it as he, basically, rented a bike monthly for a couple years? How about any money he put into the bike as far as upgrades, etc?
I feel like, why did this friend’s bad behavior get rewarded by him getting the bike...and most likely reselling it and profiting from it...except for the $5000 plus 1 payment he made? The bike is is new condition, as it wasn’t ridden a lot.
Thank you,
Andreahud
Hi.
I would like to know our rights, or legal recourse, if any, in a current situation.
Mid 2015 my husband went with his friend to a Harley Dealer. Unbeknownst to my husband, the visit was so his friend could buy a motorcycle. In the course of the purchase, the friend wanted my husband to also purchase one. My husbands credit wasn’t good. The friend offered, and insisted that he’d put a $5000 down payment and co-sign for my husband. My husband went along with it.
My husband made the payments, except when he had a heart attack over a year later, and the friend made the payment, but then, even though we made the payments, they were always a couple weeks late. His friend never complained and was understanding. Then, in 2017, right before Christmas, he told my husband that he wanted to go and pay the bike off, and my husband could make payments to him. Even lowering the amount per month so that we could handle it with no problem. They never actually went to pay it off until a month or so ago and the friend said we didn’t have to make any payments yet...since the weather is bad and hubby works construction.
So, something happened a couple weeks after my husband’s heart attack, where the friend made a pass at me. My husband never said anything to him, because of the connection with the bike. Then a week ago, the friend said something (unrelated to the bike) that caused my husband to confront him about the incident. The friend denied it, of course and the next day sent a guy with a trailer to get the bike.
Now, I understand that the friend owns the bike, as when he paid it off, he had the title transferred into his name, but what about any money we paid? I estimate we paid about $10,000. Even if we deducted the $5000 down payment, does my husband have any right to any of the rest? He rode it, so do we just look at it as he, basically, rented a bike monthly for a couple years? How about any money he put into the bike as far as upgrades, etc?
I feel like, why did this friend’s bad behavior get rewarded by him getting the bike...and most likely reselling it and profiting from it...except for the $5000 plus 1 payment he made? The bike is is new condition, as it wasn’t ridden a lot.
Thank you,
Andreahud
Repossession: Co-Signer Pays Motorcycle Loan in Full
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