A car deal gone bad. How much to give back??

Question

My son was selling his car to a friend for $1500. He received a $500 downpayment and one payment of $100 since March and no other payment.

My son repossesed the car today and is willing to give the friend some of the money back. (they work together & this will probably be awkward) The guy had been driving the car and putting miles on it for 3 months. He also hit a curb and incurred some exhaust damage that has not yet been fixed.

The question is How much is the right amount to give back?

Answer 1

personally none...he had the car since march damaged it and put miles on it..how much does the other person think he should get back..perhaps you should go by what a rental car would have charged him for that period of time..which your son would be owed money..not the other way around...

Answer 2

Even if he only charged $10 per day (rental) that comes out to about $900. Then you have to fix the car.

I would think $100 is way enough.

Good Luck...

Answer 3

No one can get you the best Answer because its how your Son feels getting his car back damaged...

I would call the Downpayment , Ernest money

Ernest money ,,,

Money torward the purchase NON-refundable meaning the person wants to purchase the vehicle.

And since he got the car back and wants to give him something I would only give him the 100.00 payment ...

Have him ready to duck if the person thinks he deserves more than that he might take a swing at him...

Be ready for the unexpected...

Also if the Signed a Contract to purchase with payments

they need to honor that.

If no contract ? He doesn't have to give him nothing.

I would not give him any thing.... But I wouldn't sell a car with payments unless the car stays in my back yard til paid in full.

Answer 4

nada nothing he tried to s***w him

Answer 5

Get ALL damage fixed and if there is anything left over then you give back the money.

You have $600.  If there is $550 in damage you only give back $50

it is as fair as you can be as you will want to sell the car.  Next time do not give possession of the vehicle unless you have payment in full.

Answer 6

Tell him to pay for the damages. The deal should have been final, no returns.

Answer 7

Do not give him back 1 dime.  He failed to honor the contract, so give him nothing.

Answer 8

none --  the guy is a deadbeat.  tough c**p!!

Answer 9

none

Answer 10

Well i hope your son learn ed from this,1 never sell to a buddy of family.Anytime something goes wrong with the car,it seems that if always the seller had sold  a lemon to a family or buddy member ,anyhow the way i look at it he owes him nothing .1.He drove for 3 months 600.00 what a deal that was 2.If he managed to smack into a curb and did damage to the exhaust ,what else has he hit?And then your son will have  to get stuck to getting it fix before he can sell it again or losing money because it might need lots of work to it to put on the road again.Wish you all the best but keep all the money he just might need it.