Im in the process of buying my friends 99 si, it's been wreaked, but the motor is still good. Im planning to take out the motor, interior etc.. Question. Is it legal for him to sell the car, the car is still under payments.? If I do buy the car do I have to take over payments on the car? How does that work..? Also when i want to get rid of the car, how can i go about doing so legally?

 

anyone?

 

if he is still making payments on the car he cant sell it unless he is going to pay the balance in full at the time he sells it to you because basicly he doesnt own the car...the bank does.

 

Did he have full coverage insurance when he wrecked the car? If he did, he'll have to buy the car back from the insurance company once insurance pays for his loss and he'll have to pay the remaining balance he owes to the bank.

Once that is done, he can sell it since the bank is paid up. Be sure to have your friend give you the lien release letter from the bank when changing the title as well. This way, the new title won't say "x bank has a loan out on this car."

Once the title is in your name and you want to get rid of it, call the junkyard, they'll tow it for free, depending on what's left, if not, you might have to pay a fee. They'll ask for the title as well.

 

1 thread in GDD is enough.