Repo of Auto

[adjusterjack]

I purchased the 2003 Nissan Murano because it had only 85k for $4500. The contract made in 2023 called for him to make $187.50 monthly payments of which he only has made 3. Plus we have fronted gas, oil tires and other repairs which added another $3k. I don't think I am going to be able to get $1,000 for it.

If it's still in good shape with lower than average mileage you should do better than $1000. Check out prices at:

Used 2003 Nissan Murano for Sale (with Photos) - CarGurus

He will still owe the $3k and if he ever gets a job, I will go after his wages.

You would have to get the car back, sell it, apply the proceeds to the loan and sue for the deficiency.

Once you obtained a judgment you can garnish his wages.

 

[joe645]

If it's still in good shape with lower than average mileage you should do better than $1000. Check out prices at:

Used 2003 Nissan Murano for Sale (with Photos) - CarGurus



You would have to get the car back, sell it, apply the proceeds to the loan and sue for the deficiency.

Once you obtained a judgment you can garnish his wages.

Hey thanks for the info on Used 2003 Muranos. Unfortunately, this one isn't as nice as those. Paint is faded, especially on top, got a few scratches, rack and pinion needs care. Drives okay but you don't want to hit any big holes in the road. I would love to get more but I will take what I can.

 

[adjusterjack]

Are you willing to sue your grandson?

If you aren't, an alternative would be to just take a bad debt deduction on your taxes.

 

[LdiJ]

Are you willing to sue your grandson?

If you aren't, an alternative would be to just take a bad debt deduction on your taxes.

Well, except that non business bad debts are no longer deductible. That is one of the misc itemized deductions that went away with the Trump tax changes.