POLL: Help! Dilemma about a car I sold...

[kranky]

This is a very interesting problem. Why should someone get a multi-thousand dollar windfall because they lose their car keys? Is there any chance that he did this intentionally for the purpose of cashing in, considering it happened just three weeks after buying the car? Did he expect you to have the receipts, and produce them?

On the other hand, the car was sold, and you no longer have a financial interest in it. Splitting the "profit" sounds good at first, but then again you would both be profiting from the car being stolen which doesn't seem right. But withholding the receipts for no good reason doesn't seem right either.

I wonder how he would react if, instead of offering to split the profits, you told him you would track all the receipts down if he gives you all the money over and above what he paid for the car. That way he doesn't benefit from the car being stolen. You would be reimbursed for the money you voluntarily lost when you sold it for less than true value. If he is OK with that, then once he gives you the money you could "surprise" him by giving some of it back to help pay for higher insurance. But he wouldn't be expecting it, and the way he responds to that suggestion might tell you a lot about his motivation.

 

[ATLien247]

Originally posted by: kranky
This is a very interesting problem. Why should someone get a multi-thousand dollar windfall because they lose their car keys? Is there any chance that he did this intentionally for the purpose of cashing in, considering it happened just three weeks after buying the car? Did he expect you to have the receipts, and produce them?

On the other hand, the car was sold, and you no longer have a financial interest in it. Splitting the "profit" sounds good at first, but then again you would both be profiting from the car being stolen which doesn't seem right. But withholding the receipts for no good reason doesn't seem right either.

I wonder how he would react if, instead of offering to split the profits, you told him you would track all the receipts down if he gives you all the money over and above what he paid for the car. That way he doesn't benefit from the car being stolen. You would be reimbursed for the money you voluntarily lost when you sold it for less than true value. If he is OK with that, then once he gives you the money you could "surprise" him by giving some of it back to help pay for higher insurance. But he wouldn't be expecting it, and the way he responds to that suggestion might tell you a lot about his motivation.

You just read my mind!

 

[MeanMeosh]

you sold him the car knowing well the full worth of it... therefore, you should give the receipts to him if you have it and don't have to spend too much work finding them... i keep all my car related materials in one folder and plan to hand it over to whoever gets it next.

 

[dleiss]

Only an AS*WIPE wouldn't help a friend in need, especially someone you party with. You would have found the receipts already if you weren't stuck on this board.

Now get off the computer and find the damn receipts !!!

 

[WarSong]

Originally posted by: dleiss
Only an AS*WIPE wouldn't help a friend in need, especially someone you party with. You would have found the receipts already if you weren't stuck on this board.

Now get off the computer and find the damn receipts !!!

hmm,

he's not in need. he is going to make money on this deal regardless of what i do. i don't have to find the receipts. the receipts that i do have, i already know where they are. the rest i will have to call my credit card companies and get some kind of documentation from then.

 

[NutBucket]

My only reaction: DAMN!!! $6250 for that??? Got any more cars you need to sell?

 

[Ns1]

(were) those hids?

 

[Mill]

Originally posted by: notfred
Give him whatever receipts you have, but you have no obligation to go out of your way to find old stuff that may be lsot of packed under 500lbs of papers in the garage or whatever.

If you thought the car was worth more, you should have sold it for more.

Yep. I think that is the only ethical thing to do. Next time don't sell a car you love.

 

[Angrymarshmello]

First off, sell it for what it's worth. Screw friends - they're here one minute, gone the next.

You can cut a deal with him - for whatever $xxxx money he gets from the insurance over what he payed you for it, he'll pay you half - if he does, you'll get all the receipts for him. (ie, if he gets $10,250 from the insurance you get $2,000 of it) He's getting free money because you helped him out, not only with the receipts but by selling him the car CHEAP. Every receipt you can find means more money for him. I don't give a $hit if I grew up with the guy - if this were me this would be the deal I put on the table. He can take it or leave it.

 

[CTrain]

How many miles on that car?

 

[MercenaryForHire]

Originally posted by: RossMAN

Originally posted by: WarSong

Originally posted by: LeStEr

Originally posted by: Brutuskend
Tell him you'll get them if he splits any profit he makes with you.

That seems reasonable since you did give him a deal on the car.

That's what I thought, too initially. Although the other anandtechers' opinions are making second guess this...

That's a good idea and wouldn't risk severring your family friendship ties with him.

I would give him the facts that:
1) You sold him the car for LESS THAN blue book giving him a steal of a deal.
2) After he received possesion of the car and title, it's solely HIS responsibility.
3) You will try to look for the receipts but also suggest to him that you'll TEAR YOUR HOUSE APART if he agrees to split the profit with you. Then you gotta worry about him actually going through with that after you give him the receipts, that could get tricky.

/puts another notch in the Split The Profits stick

I'm never one to turn down money.

- M4H

 

[hoihtah]

i feel for you.
last december i got my 97 gsr stolen as well.
it hurts when you lose your baby like that.

 

[FrustratedUser]

Originally posted by: Angrymarshmello
First off, sell it for what it's worth. Screw friends - they're here one minute, gone the next.

You can cut a deal with him - for whatever $xxxx money he gets from the insurance over what he payed you for it, he'll pay you half - if he does, you'll get all the receipts for him. (ie, if he gets $10,250 from the insurance you get $2,000 of it) He's getting free money because you helped him out, not only with the receipts but by selling him the car CHEAP. Every receipt you can find means more money for him. I don't give a $hit if I grew up with the guy - if this were me this would be the deal I put on the table. He can take it or leave it.

Sounds fair to me.

 

[ElFenix]

the insurance company says your car is worth more because it has some body kit on it