Need help asap!!!!!

Kazper1008 · Feb 8, 2010

I drive for fedex buying a truck from a guy, we have a signed contract 90/10 split plus i make 1000 truck note until truck is paid off @ $18000. In addition to our personal contract that states that I can terminate it at anytime with no penalty. It does not say that he can terminate or change the contract at anytime, plus we have a noterized contract through fedex with him signing all legal rights/authority concerning the truck over to us. so basically everything as far as fedex is concerned shows that we are the owners of the truck we also have the insurance in our names. Oh, our personal contract does not stat how far in advance notice we need to give if we decide to terminate the contract. My question is he now wants to switch to a 60/40 contract, can he do this if so how much notice should he give us if we refuse and he want us off the truck. 2nd question what is the process if he wants to legally put us off te truck and how long does that take with us having 2 signed contracts to buy the truck from him. Thanks in advance for all advice and feed back any insight will be greatly appreciated!

chefdennis · Feb 8, 2010

Take the contract and go see a lawyer asap.....

highway star · Feb 8, 2010

I think you need to take your contracts to a lawyer.

davekc · Feb 8, 2010

I as well would seek legal council in the state in which the contract was wrote. That will provide all your options and knowing what his may be. I am guessing he still holds the title so you really need the attorney to handle the civil side of it.
If not, he can just claim he has title and you wind up in court any way.
One more reason I HIGHLY advise folks to stay away from any type of lease purchase deal.
The sad part is that if this guy is a fleet owner, he is probably screwing others at the same time or has a history of doing this.

truckblue · Feb 8, 2010

I'm not a lawyer, but changing the terms from 90/10 to 60/40, mid-stream would send up a red flag. Would you still be giving 1000.00/month with 60/40 split? I would say that either a split of revenue, or a fixed monthly payment, not both. Also, you didn't say who is responsible for fuel, maintenance, repairs. I would hope that there is a clause for that as well. I too would suggest legal council.

ccrider · Feb 8, 2010

If you have a contract, it can not be changed without both parties agreeing to the changes. I'd tell him he's out of luck, I was happy with the written agreement and keep running the truck (if that is what you want to do).

Can you imagine a dealer selling you a truck and after you had paid on it for any period of time (staying current) saying they didn't like the sales agreement and you need to come back in to the dealership to sign a new deal?

I am not an attorney. If you think he has a standing to take the truck back you should talk to an attorney to be safe, but it sounds more like he just woke up to the crappy deal he made and now wants to have you agree to give him more money. I wouldn't.

If the contract does not have it written in it that he can do this thing he now wants to do, he can not do it.

Let him sue you in court and explain to a judge why what he wrote is not what he meant. It just doesn't work that way (of course under obama maybe it does).

If both parties are that unhappy with the agreement...and your contract allows you to walk away without harm...and you really want to...give him the truck back. Otherwise run with the deal you made.

Just a thought.

layoutshooter · Feb 8, 2010

I agree with the masses. See lawyer yesterday if not sooner. I would also suggest staying away from this type of thing again in the future.

LDB · Feb 8, 2010

Yes, get your lawyers opinion but it sounds like you have a contract and a contract is a contract.

greg334 · Feb 8, 2010

I sort not not agree with the masses, a lawyer at this time isn't a bad idea but it all depends on how much you have in payments and how much are you willing to walk away. The more important thing I want to know is why didn't you get a lawyer to look at the contract right from the start.

Right now I think CC's post is the closest to what you should do, tell him to take a hike and see him in court if he wants to pursue it that way. His misstep may be with FedEx, if everything is in your name, then the contract is between you and them.

ConfusedMuse · Feb 8, 2010

Is the title of the truck held in escrow? Because he could have other liens or acquire them right now. When you pay off the truck, you could end up paying alot more to take possession of the truck. Definatly go see a lawyer. Also if the truck is close to 10 years old I've heard FDCC doesn't really like them much older. Is your truck 9 years old?

bernieh48 · Feb 8, 2010

I agree with the masses on this. Get a lawyer and fast! We have been had on 2 lease purchase deals. One the owner even admitted to the cop when he had us thrown off the truck on the streets that we had a contract and we had made all the correct payments and everything, BUT, the officer procceded to tell us that as far as kicking you off the truck it does NOT make a difference to him if we had a contract with the owner or with FedEx since the owner was the actual name on the registration and title then he could legally kick us out into the streets. Then we had to later fight him in court at our own big time expense. The 2nd time we were doing good with the owner almost had the truck paid off too we thought. Took it to Freightliner for regular maint. work and they repoed it right out from under us saying the payments hadn't been being made by the owner. Tried calling her and she had taken our money and went on a month long vacation to Germany. LOL Please be careful not to **** this person off and end up on the streets. Sorry to hear this!

Bruno · Feb 8, 2010

If it is in the state of Ohio you have a good leg to stand on. You can plate the truck in your name with a copy of the title. As far as the contract if you have it signed then he or she is out of luck. As long as you don't miss any payment and pay the 10% you should be fine in the courts eyes. What is the reason he wants to change the deal?

But as for a lawyer, I would still get one and fast.

Tennesseahawk · Feb 8, 2010

Kazper... sent you a pm.

easyrider2697 · Feb 8, 2010

People..just remember..there is always two sides to the story.

greg334 · Feb 8, 2010

Yes I totally agree, there is always two sides of a story and there are people who after being here for years still ignore advice like GET A LAWYER before you get into this business.

If they had legal advice, it would have been a simple case of rejecting a contract due to a lack of exit clauses and protection for both parties. When it came time for an owner to say "I don't like that deal any more" then it would be the lawyer who could have shot off a letter - "see you in court for breach".

The importance of having someone you can depend on and someone who actually understands you and your business is very important, but for a lawyer to come to the scene after a problem starts may not be a good thing - you have to find one who is willing to deal with the learning curve and all the stuff in between which may be the sticking point for many who don't know how to even ask the basic question - "how much do you charge?"