Divorce-what happens with the car payments?

Question

I'm getting divorced and I have a problem with the cars my husband and I had. He bought me a car (it's financed under his name) and I bought him a truck (it's financed under my name). My car is almost paid off, the payments are only about $150 a month which I could totally afford on my own now. The truck is new and have only paid about $4K off on it and it's a $19K payoff. The monthly payments are $500! I CANNOT afford to take the truck back. If I take it back to the dealer where I bought it and turn it in, how much will I get back? What happens? I'll have to trade it back in to get a new car ASAP (I won't have time to privately sell it). Can someone please explain to me what will happen? Also, I am BROKE right now and can't afford to have to put a down on a new car and my credit isn't good. Will that matter since I'm trading in? Please help!!! You can IM me at TucKitty820 on AIM. THANKS!

Also, do I have to take it back to the dealer where I bought it or can I take it anywhere that I want to get a new car??

Answer 1

Since you have separate names on the financing you would each probably be responsible for the vehicle you have financed. However if you have been primarily driving the car and he the truck you can try and get the car in the divorce. Do you have kids? If you do that will go a long way in getting possession of the car. If you do manage to force him to take over the truck payments then be sure and have it fixed where he has to transfer the payments to his name. Even if the judge says that he is responsible for making the payment as long as your name is still on the paperwork you are legally responsible for it.

Answer 2

Well I speak from personal experience. I had a 97 jeep wrangler I bought in my name, my mother was the co-signer. Ex had screwed his credit so it was the only way we could get a car at the time.

It was his dream vehicle. I never learned to drive a stick shift. So I gave up my ability to drive as it was the only vehicle we had, Note to other women never put yourself at a disadvantage for love.

After about 2 yrs of payments, my then husband started a affair she could also drive a stickshift. Behind my back he gave her anouther set of keys to it. I filed for divorce.

We went to a noterty had terms and conditions set up he agreed to keep up the payments. Pay the licensing, taxes ect. Needless to say he trashed the vehicle,with bald tires, dented fender, smashed windshield, ripped seats, muddy floorboards. I got it back by having my dad take the tags off it where he works. He swindled a van from somewhere and was driving both vehicles with my tags. One plate per vehicle in missouri.

I now have a 7000 dollar loan, plus a 260 tax bill for that vehicle hanging over me, until I file for bankrupcy.

If it is a reasonable divorce see if he will refinance the truck. It has to be refinanced or he can stick you with the responsiblity any time he choses to. If not trade it in. However they tack on the remaining payments into the next cars loan. So the payment may not go down at all for a different vehicle.

Answer 3

Here's the scoop. You're responsible for the payments. You can default. Which means the truck gets repossessed and your credit is in the toilet. Buying a car from a dealership may pose a problem because if you take the truck and trade it they may not want it back as a trade in and you're stuck with it. To make matters worse, if they do take it back they may have you pay the remainder of the note by attaching it to the new car you buy. in any case....you're saddled here.

Answer 4

Like the last guy said get a lawyer. Or maybe you and your soon to be ex-husband can work a deal. See if he'll take over the payments for the truck and get it refinanced in his name and give you the car. If that doesn't work, then you can take it to the dealership and try to sell it back. Sometimes you won't get back the sticker price. Depending on the miles, if the truck is over stocked at the dealership, if the dealer thinks they can sell it, it's all up to them. You don't necessary have to trade it in, I don't think. But if they don't cover your loan amount you still have to pay the remaining balance.

Answer 5

You need to spell it out in your agreement. I know women who have gotten the car and the guy had to make the payments until it was paid off. It was part of the divorce agreement.

If you can't afford the truck either tell him he has to take it or tell him that after it is sold he has to pay half of whatever you still owe the bank.

Answer 6

Insist TO YOUR ATTNY that this all be worked out in your divorce decree. Since you need your car, then that's you're financial responsibility. And since he's getting the truck than that is his financial responsibility. Thus change ownership of both vechicles reflecting this. You're getting a divorce, and paying an attny to take care of things, PER YOUR CONCERNS. This is an item that requires IMMEDIATE attn. CALL your attny NOW!

Answer 7

Depending on how reasonable you both are, you should be able to work this out in your settlement. If this is a problem the judge can rule. You would most likely lose alot if you turn the truck in.
Good luck

Answer 8

ok if you take it back you get nothing but if you dont want it on your credit id advertise it for sale for the pay off and alot of car lots wont pay off a vehicle for that much. and if you want to use it for a trade in then that would be kind of hard cause its not paid off see if your ex will take aloan and get it in his name that way its not on your credit and you dont have the payment

Answer 9

The person who is keeping the vehicle is responsible. You can work it however you choose and the judge will approve it. All other loans are 50/50 payoff.

Answer 10

you can take it back to the dealer more and likely very little trade you would get for it.Be smart and go and trade your car in while your still married.GOOD LUCK