Jan 12 2017, 03:10 PM
QUOTE(klthor @ Jan 12 2017, 12:14 PM)
it all boils down to your negotiation with him. i think you are kinda fair to him paying him back the deposit. instalment maybe no need as it is clear that the car value is way lesser than what you owe to the bank.
but in another point of view, you see it this way... you are helping him to loan only, now the value of the car is lower than the loan...you shouldnt be paying him anything at all since you might even lose another 10 to 20k to topup the different if you sell off the car.
do your home work now like calling to bank for settlement sum, call 2nd dealer how much they accept. workout the maths, how much you are losing. prepared the figure be4 you approach him. and good luck ts, that is why good people become lesser.... expensive lesson learned and they changed.
yeah i agree with what klthor said.but in another point of view, you see it this way... you are helping him to loan only, now the value of the car is lower than the loan...you shouldnt be paying him anything at all since you might even lose another 10 to 20k to topup the different if you sell off the car.
do your home work now like calling to bank for settlement sum, call 2nd dealer how much they accept. workout the maths, how much you are losing. prepared the figure be4 you approach him. and good luck ts, that is why good people become lesser.... expensive lesson learned and they changed.
But I'd choose 2nd option = not to pay him anything deposit back. TS was already kind enough to let him with credit loan on TS name, this is already a courtesy not to be taken as granted. But now things messed up, TS most probably has to bear with the losses with the depreciating car value. Out of her kindness, she didn't get any good in return, but defaulted credit mess that would haunted her credit record + cash value loss, this is truly a painful lesson to bear!
I'd suggest TS to deal with bank instead, to tarik back the car and nego with bank to get back it. I believe TS must have informed him many times d, if he was willing/able to pay the loan, he would have made it early. All TS need to approach him, in anyway, is just to show him the ''surat tarik balik'' from bank, that would itself serve as a clear final warning. What i wanted to say here is, there's no point to nego with him, if he reacts nothing with the warning letter, he is just taking the advantages.
Good luck.
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