My Boyfriend Bought Me A Car. The Title Is In My Name, But He Has A Loan On It With The Bank.?

Question

I Haver Made As Many Payments As He, But Stupidly Just Gave Him Cash. If He Chooses To Not Make Payments ,But Tells Me He Is Making Them, How Can I Protect What Was To Be A Gift, From Not Having It Taken Away. The Bank Is No Help. His Account, I Dont Want To Have Something Thats Not Mine. That Whouldn't Be Honest.But I Really Love The Car.

Thank You All For The Advice. I Wasn't Very Clear About My Question. The Title Reads On The Frount Top Left Hand My Name. To The Lower Rt Says Lien Holder Then The Banks Name.And REason For Me Making Payments On The Car As well As He. Is I Thought When Reg The Car He Was With Me. I Asked Envited Him To Share Owner/Names On Title. He Declined... On Me Making Payments I Thought Where One Left Off The Other Began. Such A Beautiful Gift,The Car is,, I Made Payments For A Gift To Him..Thank All For THe Imput

Answer 1

sadly, from what i understand, there is no way! i suggest you make the payments youself and if he asks about it tell him you are wanting to be more self-assertive.

Answer 2

For Finance and credit solutions I visit this website where you can find all the solutions. http://SMARTFINANCESOLUTIONS.NET/index.html?src=qqsubWW58

RE :My Boyfriend Bought Me A Car. The Title Is In My Name, But He Has A Loan On It With The Bank.?
I Haver Made As Many Payments As He, But Stupidly Just Gave Him Cash. If He Chooses To Not Make Payments ,But Tells Me He Is Making Them, How Can I Protect What Was To Be A Gift, From Not Having It Taken Away. The Bank Is No Help. His Account, I Dont Want To Have Something Thats Not Mine. That Whouldn't Be Honest.But I Really Love The Car.
Update: Thank You All For The Advice. I Wasn't Very Clear About My Question. The Title Reads On The Frount Top Left Hand My Name. To The Lower Rt Says Lien Holder Then The Banks Name.And REason For Me Making Payments On The Car As well As He. Is I Thought When Reg The Car He Was With Me. I Asked Envited Him To Share Owner/Names On Title. He Declined... On Me Making Payments I Thought Where One Left Off The Other Began. Such A Beautiful Gift,The Car is,, I Made Payments For A Gift To Him..Thank All For THe Imput
Follow 15 answers

Answer 3

1

Answer 4

Let me get this straight first........your name is on the title as the registered owner. Your boyfriend has a loan on this car, therefore there is a legal/leinholder on the title below your name, correct? I don't understand how this could occur, I think what you mean is that you drive the car, he told you it's "your car", but, the title actually shows his name as the registered owner, and the bank/finance company as the legal/leinholder, correct? If this is so, you are in total trust of him because he is holding total control over that car, you have no legal say in what happens with the car, if he wants to sell it after his loan is paid off, he can with no regards to you. Like you said, you stupidly gave him cash, no receipt showing why the cash was given, no written contract on your deal. You are out of luck, and without wheels if he defaults on his loan. If he pays off the loan, and keeps the title, legally he can, he is the owner. At the very least, when he applied for the loan, maybe the two of you should have put the car in both of your names, as registered owners, it would have put you as liable for the loan also, but if he made the payments on time, you would build credit, as well as he. Hope this guy is loyal and true, you may find yourself without wheels some day.

Answer 5

Is this situation you are worried about actually happening? Has he taken your cash and not made any payments? You could take him to small claims court and sue him or you could start picking up the payments. It's obviously not a gift if you paid for half of it. If he has taken your cash you have to sue him but as far as the car goes, if he isn't making payments it will result in a really negative credit score for him. At least your credit will not be affected. The bank will reposess the car if he can't pay for it. You are just really going to have to start trusting your man. If you are worried about him not making the payments then start writing checks to the bank and giving those to your boyfriend. Or, get a money order and keep the reciepts as proof that you have been contributing. This will hold up in court more than a verbal claim. Do you really think your boyfriend would put his credit on the line to get you a car and then **** up his own credit and have the car get taken away? If you are still really worried about this and feel he is truly not paying, quit making payments yourself until you get to the bottom of the situation. Make your boyfriend prove to you that he is making payments and explain your mistrust. There must be a reason behind it, so explore what that reason is and share it with your boyfriend.

Answer 6

Send the payments to them directly. You only need the loan # and the payment address (or stop by the branch if it is a regular bank). Dont make them via the boyfriend. Use money orders or checks!

Also if you're on good terms, he can add you as a person authorized to talk to them about the account. You cant make any changes but you can check in on the status- if its current or not-- if they received payments, etc.

If he's not on title he cant take the car if you break up or if the loan defaults, but the bank can if they dont get their money.

Answer 7

If he has a loan with the bank, then the title is in the bank's name not yours. Without a contract between you and your boyfriend, you don't have a leg to stand on if he decides to take the car away. And even with a contract with your boyfriend, if he doesn't pay the bank, the bank will repossess the car and there's nothing you can do about it. I would look for a back-up car. Good luck, hon.

Answer 8

Do not stop payment on the car, it will ruin your credit. Stay in good standing.Talk to the bank. Talk to the police dept. Call the DMV. File in small claims court and have all your paperwork. Including all the car payments you made. Sue him for the entire amount of the loan and for all the pain and suffering. If you want to get all the information to the judge correct go talk to a lawyer. They will be able to help you handle this and win.With title in his name this could make for a even bigger headache. Let this be a lesson to be learned. Bless your heart.Good luck.

Answer 9

1. As title holder, you are the owner of the car, gift or not. However, your car has a lien on it from the bank to secure their loan to your boyfriend. If the loan goes into default, the bank has the right to take your car in lieu of payments for the loan. If the loan is fully paid, the lien is lifted from your car and you own it free and clear.

Answer 10

Personal transactions the magnitude of your's, should entail buying a simple receipt book from Office Depot. Everytime you make a payment, you ask him to fill out the NCR receipt and hand you a copy. -And I would go one step further, before he tears off your copy, I'd have him initial BOTH the white (his) and yellow (yours). I'd also setup an Excel spreadsheet of payments/date made/balance. -Probably the best tracking method, however, is either a personal check or cashier's check and not the use of cash. Being so casual about a large expenditure such as this, is really setting one of you or both, up for a "fall" should problems arise.

While on the one hand, it was a most generous gesture on his part, it is PURELY FOOLISH, not to document such a personal transaction between family members, friends AND love interests.

Glad you love the car, but backtrack the history and write it down as close as you can, know the balance to be paid off at all times. Document payments - do this for him AND yourself...its a matter of more than love and trust, its the ethical thing to do.

Grace

Answer 11

Who is holding the title ?The bank or you ? If the bank has it and you default for non-payment, Kiss car good bye ! They will not fool around, they will repo it ! I'd be looking for another boyfriend !! He sounds like a jerk and a "DEADBEAT". This is no way to treat a lady !! He needs his a..s KICKED ROYALLY at least one time !! Try to convince the people at the bank that you will make every effort to catch up on payments. Trust me in this they would rather work out an agreement with you than repo and have to pay tow and court fees. Yeah bankers are a _holes, but they are still people !! A few "tears" wouldn't hurt your cause either when talking to finance person !!