Money over friendship?

Have a car that I'm into for $1000ish.
Have a friend that bought a car that was way to expensive for him. Doubtful he can afford payments. 30% interest! Gets 9mpg....
Totally tried to talk him out of it.
So now he can't afford to insure and totaled it. Not really an "accident" cause he was racing around and just can't drive....

The car I have is listed at $2700. Will go down to $2200.

So should I sell and make $1200+ or help a friend out that didn't listen to my advice in the first place?

If i sell to him him its Just going to be what he can raise. Im not going to do payments. That always leads to problems.
Really want to help him out and I kinda consider my side stuff a hobby. I don't count on it to live. But it's a lot of money to give up......

I have been in similar situations... I have always gone with friendship over money. But that means my $1,000 car I would sell to a friend for $1,200 to cover all my costs. I make my money from strangers not friends or family. Payments are a horrible idea - regardless of who...

Sam

Tough spot. Have a life long friend (she is better off $$ than me) we have only once swapped money. Why we are still friends. 

Would sell the car for what you are comfortable with.

 Does he have anything of value to trade for the difference in cash?

Just a thought to keep it honest. Sounds like he needs to grow up a little, and with that means paying up when you F up. We have all done it and paid the consequences.

Made my son give me his truck for money he owed me. I sold it got my money back and he did not lose his licence get tickets and continue down the path he was on. Been doing great ever sense.

My .02
Good luck with it.

Myself - it would really depend on the friendship.  Is this a friend that I can call in the middle of the night to come pick me up.  Or that will come over and help me move something heavy.  All without a complain or compensation.  Or is this one of the friends that always needs something from me but is always busy when I need the help.

If it's the first one I'd work out a sale/trade.  His wrecked car (worth scrap metal) + whatever + money for some figure you come up with.  If it's the later type of friend I'd not sell him the car.

I agree with Money - your friend may need to grow up some before he gets another car.

I went for the money. Guy offered $2500. Friend only has $700 in hand.
Insurance approved surgery so with being out of work for 2-3months I had to pick my finance's over helping out a dumb ass.....

Oh I Forgot about your situation on the laid up for a while.

Defiantly the money. 

Glad you sold it.

Your friend can find a POS for his cash. 

Smart choice,Doesn't sound like the friend would have done it for you.

I think you did the smart thing.  You did not cause his problem which really is not a money problem, but one of maturity.

I think also we have a tendency to warn people about their actions or behavior and then there is negative results we bail them out.Why should it change when there are no consequences.

Well, maybe this is HIS karma.....listen to sound advice or bad sh*t happens to you.
And he's not going to pay my bills when I'm laid up so.....

Agh. Read it wrong. Thought u meant MY karma. Nit help'n a friend and all.

Yeah, dude is a nice guy but needs some life lessons.

He keeps wanting me to show him how to make some side money and I keep telling him that he isn't bringing anything to the table. Not gonna show someone how to be my competition.....
To many people start in this but don't want to work, learn, make contacts, take risks....I could go on and on!

So you want me to find auction, do the bid, risk my money, store the items and introduce you to people and places to move the items....and split profits but eat all losses myself?
And for this I get....  Help cleaning out locker? Yeah. I can get that for $50 at the home depot parking lot. Have a nice day.

To many people start in this but don't want to work, learn, make contacts, take risks....I could go on and on!

So you want me to find auction, do the bid, risk my money, store the items and introduce you to people and places to move the items....and split profits but eat all losses myself?

I agree with you 100%. My brother in law was ticked off when he heard I was buying storage units because he somehow, somewhere, dreamed up some imaginary conversation we had about doing this together. Having been self-employed for the past 21 years I can safely say that I have no desires to have any partner in any business prospect.

My response to him was basically that nothing was stopping him from buying himself a unit. Four months after that conversation he still didn't lift a finger to get himself a unit. That's when I told him that is why I don't do partners. I would end up doing 95% of the work for only half the money.

Yep.
Took me several car deals to learn my lesson.
They are all eager and willing to split the cost of car. Then suddenly don't have money fir parts or supplies or time (or skill) to fix.
So I do 95% of the work, put up 75% of the money and they always, ALWAYS want 50% of not profit but the difference between the buy and sell price!
They never understand when I take out my expenses first!
And these are people I consider pretty smart and honest in all other aspects of life!

No partners. End of story.