So the 280zx I got from JPerkins, I sold it to by buddy. Like 7 months ago.

Apparently he never put the car in his name.

I get a notice saying that "my" car (280zx) is in a impound lot, and will be auctioned off after 1 month.

It is going to be over $600 just to get it out, and I really don't have that kind of money right now... or I would get it out.

So my question is, is this a bad thing for my credit? I really hope not, cuz I'm about to go over to my friends house and kick his ***.

Oh, Jody I can tell you where Rumble is if you want her back. Maybe you can buy her cheap at the auction, or just go get her out.

 

has nothing to do with your credit as long as you did not go to a bank and borrow the money.

 

Your still responsible for the vehicle by law as long as its still in your name. Wont affect your credit though unless you did the bank thing like seabee said.

 

You're ok since you did fill out the seller report and file that with the DMV, right?

If you did not fill that out (which is illegal) then the car is your responsibility. If you don't go and pick it up then the impound lot will eventually auction the car off. By that time the fines could reach or exceed $1000. If they don't get enough money to pay whatever "you" owe on the car for impound then the remaining amount due will affect your credit. They will turn it over to a collection agency at that point.

This happened to me before too. I had already filled out the vehicle sellers report though so even though the impound notice came to my house it was not my problem.

 

There are no connections to a bank with this car.

He got his own insurance on it, so I don't know how he could do that on his own if the car is still in my name.

I have a bill of sale, and the buyer has the notarized vehicle title with my signature on it.

Hopefully that will be enough if I end up having any problems.

 

wait! Rumble is back up for sale?! Point me in the direction of that impound lot!!

 

I wouldn't wait a second longer. File your seller's report of sale with the state now! If you you don't, you will have problems even if you signed off the title. Not reporting the sale is illegal and they'll put the towing responsibility on you. That's what you get for trying to cheat the system.

 

you have to remember every state is different in some form or another and laws change all the time.

in oregon the last time we sold a car it was the buyers responsibility to get all that done, all you have to do is sign and date on the Reg and Title. its possible it changed but lately they have been putting laws into effect and then the next thing you know they arent in effect any more for some reason.

 

Damn Indiana is too far away