Okay, so my husband and I split up, I got a job, then a new car. I LOVE THIS CAR, but at the same time it is a financial burden on my family, we have since got back together and I quit my job because child care is SO expensive. He's also going to college. So, the car payment/insurance are very expensive. My brother needs a car and wants to take over my payments. The car is in our mothers name and he's not very responsible and I'm afraid he won't be able to make the payments. I love this car. It's a 03 Honda Civic SI, I would be so sad to see it go, but right now I can't afford it and I don't want to pay on it for 7 years. My mom is all for letting him take it over, I would be, but the fact that I love this car so much, and I'm afraid my bro will ruin my mom's credit stand in the way of me letting it go. What do you think? Let me add that the only other vehicle we would have for a family of 4 is a Chevy S10, wich seats 3 people tight. I don't know what to do? Thanks :) Happy Labor Day
2007-09-03 13:37:07 · 2 answers · asked by summer_b 1 in Family & Relationships ➔ Family
Your brother is not responsible enough to risk your credit on him. If you just let him assume the payments without doing the transfer paperwork, you could get stuck with the payments anyway.
If the car's lender cannot transfer the loan and get your name off the paperwork, I would suggest selling the car outright.
Let your brother float his own loan for what you still owe on the car, then he can start hs credit fresh with a new credit reference.
2007-09-03 14:06:48 · answer #1 · answered by revsuzanne 7 · 1⤊ 0⤋
Eww Honda! Haha Get rid of it. Long story why I can't stand Hondas now. haha
2007-09-03 21:16:20 · answer #2 · answered by Anonymous · 0⤊ 2⤋