what would you do?? advice please!!!

ok guys i need advice...
ok heres the deal, and i dunno what to do..
Me and my X broke up, almost a year ago.. and unfortunatly i still have to deal with him.
When he left, his car was broken down, so i let him take my racecar... b/c i wanted him GONE. So when he got back to Texas, he was to sell his car, and pay me back $8000, OR.... give me back my car. He lived w/ my friends so they had an eye on him..
Well he sold his car... spent the money
and bailed...
He moved in with his cousin, who is also my friend, he was trying to help get him in line too.. well he bailed on him as well.. he is now owed money as well...

well... heres the shitty deal.. the title is in my X's name....
i know i know i know.... BUT.. hes f*cked over so many people in Texas, that one of my friends has the title to the car.. so i can get the title back.. and um.. well i have a way to get it back in my name. *i think.. fingers cross'd
But.... he took off again.. in the car.. so no one has control over his actions where hes at now..

Should i just kiss the $$ & car good-bye
Try again to get it back, and get the title in my name, then deal with it on a legal basis???
Or just trust that when he gets his insurance money NEXT october he will pay me back..
I know he will pay me back when he gets the money next october.. i KNOW he will.. i dated him long enough to know that after everything i have done for him..
or do you think im being "blind" about the whole deal..