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I bought a car for $2,000 (I put mine and the buyer's name…

I bought a car for...
I bought a car for $2,000 (I put mine and the buyer's name on the title (or was in the middle of the names) ) and loaned the buyer an additional $300 for insurance and registration purposes.I made him this offer:
Me: I don't want to get in a big argument over this, but when I boughtyou the car there was no mentioning of moving back to Louisiana or I wouldn't have done in the first place. So, that being said I paid $2,000 for the car and lended you $300 in cash for registration and insurance purposes.I'm giving you 3 optionsOption 1: You can help sell the car and profit whatever it's sold for as long I get my $2200 you owe.Option 2: You can keep the car in state and pay for it and your car insurance like we agreed on.Option 3: If you don't pick option 1 or 2 I'm going to sell the car and give you back whatever payments you have made. Except for $300 which I had lended you in cash.He accepted option 2I know that's an abinding agreement that's no my question, so my question is since my name was still on the title I gifted the title to my wife and went and picked it up when I didn't receive payment and I got a phone call from his girlfriend saying they were going to go out of state. He is threatening to sue and I'm wondering what all rights I have since he never made a payment after the agreement and took the car back and transferred the title out of both our names. What all can he try to sue me for and what would be my best defense besides saying he didn't pay and what if the agreement was made after I bought the car.
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Answered in 2 minutes by:
3/15/2018
Lucy, Esq.
Lucy, Esq., Attorney
Category: Estate Law
Satisfied Customers: 31,930
Experience: Lawyer.
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Hi,

My name is ***** ***** I'd be happy to answer your questions today.

It appears that I have been locked out of replying on your other page by mistake. I apologize for the inconvenience.

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To clarify what I was saying earlier, what he can sue you for is not the total value of the car. It's the difference between what he would have paid you and what it costs to find another, similar car elsewhere. Minus the payment he owes you that he never made. So if the car was $1,000 and he finds the same one elsewhere for $1,200, he'd only be able to seek the $200.

That might work out to night, depending on how much he owes you and how good a deal you gave him no the car.

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Customer reply replied 1 month ago
He owes me $2,000 for the car. So what I'm trying to understand if there was no terms mentioned on due dates of payment or what would happen if he didn't pay, legally how long would I have to wait to take back that car or do I have to notify him first and since the cars completely out of mine and his name does that change the agreement since he forfeited the keys to me.

The default rule is that you could never take the car back unless the contract specifically contained that right. Your recourse when someone doesn't pay a debt is to sue them for the money. That can be done as early as the day after a payment is missed, although most people will wait at least a week or so - largely because filing a court case takes time and costs money.

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You wouldn't have to notify him first in that scenario, because the contract IS notification. As long as it says you can take the car back, and he signed it, he's on notice.

The fact that he gave the keys back though would make it more difficult for him to claim you didn't have a right to take the car back. Plus, since your name is ***** ***** the title, technically, the car belonged to both of you. So he can seek damages associated with having to buy a new car, but he won't get an order that you have to get the car back.

And anything a judge decides you owe him would be reduced by the money he owes you.

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Customer reply replied 1 month ago
what if this was all being said on facebook messanger?

A contract made over Facebook is binding for most purposes, because an oral agreement would also be enforceable. The chat history is proof of what was decided.

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Customer reply replied 1 month ago
Ok, this is the last thing I'm going to ask and I appreciate your input. It backs up what I have tried to research on mine own.
What should I do if he sues me for the car and maybe damages? Would I be liable for the damages even though I took the car back after he forfeited the keys over to me?

He can't get the car back in this scenario, because you are the legal owner. And also, usually for low amounts, people sue in Small Claims Court, simply because it's faster and easier. Small claims courts only order payment of money, not return of property. So that shouldn't be an issue.

You could claim that his returning the keys to you was what's called an "accord and satisfaction." Basically, he gave you back the keys so you wouldn't sue him for the missed payment. And that would be a binding revision to the original contract, if it was either express or implied that was what would happen.

Lucy, Esq.
Lucy, Esq., Attorney
Category: Estate Law
Satisfied Customers: 31,930
Experience: Lawyer.
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Lucy, Esq.
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