[Vettezuki]

Originally Posted by Leedom

Did she off-road the thing, damn!? Sorry you are getting screwed with this. I learned years ago never lend anyone anything you need back (money, tools, furniture, etc.)

I'm pretty easy with most stuff, but you have to watch it. In this case, the idea was that we were lending our credit, nothing out of pocket. My mistake was to not follow up with her more closely and get the loan refinanced in her own name. Then it just would have been her own journey and lesson getting it repoed and damaging her credit. We have through the roof credit and zero personal debts, which is a nice position to be in in case need or great opportunity arises (though I'm sort of miltant about use of consumer credit), so letting it get repod was both a bit irresponsible IMO, plus the ding to our credit could come back around to bite us if we wanted to refi should the rates and terms drop into a nice window again; something far more expensive than even eating the $2k worst case.

[Redondo Jon]

Originally Posted by Leedom

Did she off-road the thing, damn!? Sorry you are getting screwed with this. I learned years ago never lend anyone anything you need back (money, tools, furniture, etc.)

I was thinking almost the same thing but demolition derby popped into my head first. Wow Ben you’ve got a lot on your plate man.

[Shaolin Crane]

Can you not donate it to one of the charities? You might be able to get a write off for the "good" value of the car, which may help with that other business tax that popped up, just spit balling.

[Vettezuki]

Originally Posted by Shaolin Crane

Can you not donate it to one of the charities? You might be able to get a write off for the "good" value of the car, which may help with that other business tax that popped up, just spit balling.

Thank you for your consideration.

The way those work is you get the write off for the value of the sale handled by the organization. It's basically an auction format and given this no worky so good, probably pretty close to scrap value. Additionally it doesn't come off your tax bill, but just reduces your taxable income (same as any charitable donation). It's good fast way to get something out and get *some* value for it and to *feel good* about it, but it's pretty minimal in most cases.

[Shaolin Crane]

Didn't know how it worked, i've certainly never given a car away

[enkeivette]

Originally Posted by Shaolin Crane

Hey now, if there weren't girls with daddy issues Enkei and I wouldn't get nearly as many dates as we do.

Lol.

Disagree with blackax, dont ask for advice on how to pinch pennies from someone who owns a Cadillac :P

Door fix sounds easy, HG not a huge deal, paint and body... I dont know if it would be worth the cost of materials. But a running 2007 is worth at least a few grand.

[BADDASSC6]

I'm sorry to hear you are in this situation. Every time I have involved friends and finances I have regretted it. Literally thousands of dollars fucked. I now just assume it's a loss now. I agree that they are probably making a financial decision to let the car go and making you deal with it. I would take that into consideration if you ever deal with this person again. I wouldn't give two fucks about her kids. If they were really hungry they could go to California state welfare and make more money than all of us.

[blackax]

Originally Posted by enkeivette

Lol.

Disagree with blackax, dont ask for advice on how to pinch pennies from someone who owns a Cadillac :P

Door fix sounds easy, HG not a huge deal, paint and body... I dont know if it would be worth the cost of materials. But a running 2007 is worth at least a few grand.

Hey, I own alot of cheap crappy cars. I DD a truck that cost me 800$ I have put over 80k and my total investment is less then 1600$ (I drive 140 miles a day) So I can pinch pennies with the best (ok maybe not on guys level).

My thought is even at the end of the day the car wont be worth 2k. The body damage alone isnt worth it. The rest seems kind of easy to fix but thats what he knows of there could be a lot more, you are going to have a hard time to break even.

[Vettezuki]

Carlos, I feel ya. I've received tremendous help in my life, primarily from family though, so I just try to "pay it forward" by helping where and how I/we can. This was a mistake, mostly I should have followed up to make sure she refinanced in her own name, so partially my own damn fault. But once she decide she wasn't going to, or couldn't pay, there was really no choice left but to take it over. If I let it get repoed, the credit ding would be nasty and I'm sure the CU would come after me for the balance since they know I have it. Since she was at least considerate enough to tell us what was going on and surrender it wihtout any hassle (she could have made it more unpleasant as she wasn't obligated to surrender it) I just moved to clear it as fast as possible. Which is done now. The remaining question is just liquidate it and eat the loss, or try to mitigate it with repair and sale.

At least the passenger front fender, apparently in the same color from the great LKQ is about $170 after tax.

Windshield is probably in the $100 range.

HG is like $25. (Even full engine gasket kit is only like $120).

The cover over the timing belts is shattered (not a good sign . .) and don't know what to call it as engine cover from Rock Auto looks different.

But, basically parts are cheap and relatively available.

[injdinjn]

You have to do a actual cost estimate and figure low to middle book at best and see how it pencils out.
A option is CL "needs work" $1000 obo and see what happens.