So he wants his friend to get a car loan for a brand new car, then sell the car they now owe a monthly payment on to him for $1000? Why would anyone ever do something so stupid? Is this just a description of how he plans to screw his friend out of a car and a ton of money?
Maybe he hopes the friend would then default on the loan, and tell the bank they can’t repo the car because someone else owns it now?
IDK, all stupid because this is why the bank holds the title and has a personal guarantee on the original borrower. His credit will get hosed, the bank will file a lawsuit, and the car will still be repo’ed.
Then this sovcit is welcome to go try to tell a judge why he should get the car back.
But you see he signed at a 45 degree angle so his friend knows it’s all good.
That’s a crime punishable by death for commercial entities only, private citizens get $20
