He is in debt and no way to come out.. Is there any way i can help him out? pls help..?

It is absolutely necessary for you to let him get out of this situation on his own. He knew that he couldn't afford this car and he agreed to do this anyway. If you bail him out, you will always be bailing him out. Also, I'm very suspicious of the fact that he tells you that he wants to kill himself and then wont answer the phone when you call. I think he is manipulating you into helping him financially. His family has known him a long time and they aren't helping him for a reason. He can give the car back. All of this doesn't make sense because no one buys anyone a car and then expects money back and no one accepts such a deal. Honestly, I think he is lying to you and I hope that you believe me. Tells others, friends, of this situation and see what their advice is. I suspect your friends will tell you not to trust this. I suspect that if you give him money, you will never see your money again.