Friend bought a lemon

[Magic Johnson]

Not really a lemon, but a car that was in a bad accident, and not repaired properly. She bought it from a private seller, and borrowed something north of $20K. And I’m guessing its value is scrap.

I’m not sure what her most ethical option is other than to quit paying on the loan, have it repossessed, and take the hit on her credit.

On a much brighter note, I did get my IRS debt paid in full. I thought it would take six years, and it took eight months.

[bjl584]

There probably isn't much recourse for your friend, especially since it was bought from a private seller.

[Petunia 100]

Not really a lemon, but a car that was in a bad accident, and not repaired properly. She bought it from a private seller, and borrowed something north of $20K. And I’m guessing its value is scrap.

I’m not sure what her most ethical option is other than to quit paying on the loan, have it repossessed, and take the hit on her credit.

On a much brighter note, I did get my IRS debt paid in full. I thought it would take six years, and it took eight months.

Well, it won't only be a hit to her credit. The lender will sell the car, typically at auction, apply that to the loan balance and sue her for the difference. She should get some estimates to repair it properly before making such a drastic decision.

Congrats on paying off your IRS debt.

[Petunia 100]

Magic Johnson, have you been a member of Saving Advice under a different name? I feel like I "recognize" you from a blog.

[myrdale]

How long has she had the car? Are we talking 6 days, 6 weeks, or 6 months? Six months after the fact, I think she is pretty much out of luck. If she bought it last week and just got it back from having a mechanic check it out (should have done before she bought it), then I think she would have better grounds for a law suit. I am to assume it was sold as is? What is wrong with the car and has she spoken to the previous owner?

[ua_guy]

These situations suck but sometimes self-preservation comes first. This isn't a nice thing to do, but it's perfectly legal: Keep shopping the car on trades until you find a dealer dumb enough to take it in without really looking hard at it. Very easy to do if the title is still clear.

[LivingAlmostLarge]

These situations suck but sometimes self-preservation comes first. This isn't a nice thing to do, but it's perfectly legal: Keep shopping the car on trades until you find a dealer dumb enough to take it in without really looking hard at it. Very easy to do if the title is still clear.

this is probably the best idea. Plus inflation and maybe a supply chain issue will help