The facts of the case are pretty simple. May Trucking had a Paccar tractor-trailer that it drove about 500,000 miles over six years. Then it sold it to another party, who in turn sold it to Lewis Farms. About a year after May had gotten rid of the truck, the wheels came off on the highway due to an axle failure. They hit a car, which then crashed and burned, and the car's owner, Jerome Bailey, was badly hurt. Bailey sued Paccar, Lewis, and May. His allegations against May were that it had negligently failed to maintain the axle, and that that failure is what caused the awful accident.
May said it couldn't possible be liable to Bailey, because it sold the truck a year before the axle failure. Lewis was responsible for the safety of the vehicle it was operating, said May, and so May should be off the hook to Bailey. May moved to dismiss the case, arguing that even if it were negligent, it had no duty to Bailey, and that the harm Bailey suffered wasn't reasonably foreseeable when May owned the tractor-trailer.
No way, said the court. Just because Lewis had a duty to Bailey doesn't mean that May was relieved of its obligation to act reasonably in maintaining the truck. And of course the harm could be reasonably foreseeable -- if you let your truck run down without proper maintenance, it's no surprise if somebody gets hurt in an accident as a result.
http://bojack.org/2007/10/your_old_junk_could_come_back_1.html
So I guess if the new owner of your old Taurus fills it up with 1500 pounds of black dirt and tows his 4500 pound trailer at the same time, you're liable if the brakes can't stop it.
(Actually if this was in Cook County the judge would have just said that the trucking company can't be off the hook because the other two won't have enough money to pay the full lottery award.)