Gabe Watson: scumbag?

[tnmike]

The signer is purchasing a car to be paid for by someone else. This is a fraud because it uses the good credit of one person to buy a vehicle for someone else. This defrauds the lender

 

[Capital Card]

Correct me if I'm mistaken, but if the car was in the teachers name, and Gabe pays it off, doesn't the teacher get to keep the car if he wants???

If he and Gabe had an agreement, I'd expect Gabe to keep his end of the bargin; however, it sounds like a bad deal to begin with. The teacher, no matter how well intentioned, made a very stupid mistake.

Never, never, never cosign a loan that you aren't fully prepared and able to make every payment on.

Go Cards.

 

[tnmike]

yeah the teacher would own the car, but he didn't co-sign a loan, he took out a loan in his name and let someone else use the car. But I can tell you from experience, if it's not a immediate relative don't co-sign a loan.

 

[Mitch]

To quote Rodney Dangerfield from Caddy Shack:

"Yo...Rocco...Moose...help Big Gabe find his checkbook"...

 

[daves]

Correct me if I'm mistaken, but if the car was in the teachers name, and Gabe pays it off, doesn't the teacher get to keep the car if he wants???

According to the article, it was a lease, not a loan. Then again, the teacher apparently showed "loan documents" to support his case. That's a strange inconsistency....

...dave

 

[tnmike]

Doesn't matter if it was a lease or a loan it was still a fraudulent transaction. A lease is just another instrument of purchase.