Ok I am going through a dissolution and my ex and I have a vehicle and loan in both of our names, I am the co-borrower, I have made every payment since owning the vehicle. He wants me to acquire a loan to take his name off of it but I am unable to and he knows it because of my credit which is not so good. I have asked everyone in my family to co-sign but they are unable to. So what can he do legally about the vehicle? If he doesn't want to be on the title/loan anymore does he have to "buy" his way out or what? This is really confusing to me any help would be appreciated i would really like to keep the vehicle as I can not finance another one because of my credit.
2007-11-07 18:43:03 · 12 answers · asked by Anonymous in Family & Relationships ➔ Marriage & Divorce
OK here's the deal he can't afford to make the payments on this vehicle because he has his own car payment plus a mortgage payment plus all his other bills I have had this vehicle for a year and have made every payment on it I have tried to get a loan in just my name but I can't I messed up my credit when I was much younger and I don't have any credit cards as some else said when I was younger I really did not know how my bad decisions would affect my credit later in life He just wants to be an a**hole and try to take this vehicle from me because that's how he is he is mad at me because I left him for MY kids sake
2007-11-08 02:42:46 · update #1
Best way to go to make sure there's no trouble - is see a lawyer.
Good luck =)
2007-11-07 18:46:40 · answer #1 · answered by Anonymous · 2⤊ 0⤋
Have you tried to get a loan and were denied. If not then give it a shot. I do not know how long you have had the car or how much that you owe on it but if might be possible for you to get a loan. If you are the co borrower and have paid your payments on time than that has helped your credit. It might be easier to start with the bank that it is now financed through.
2007-11-08 03:46:48 · answer #2 · answered by kim h 7 · 1⤊ 0⤋
Since your credit is bad, like mine, he CAN LEGALLY take the vehicle from you to get rid of the 'problem' (being the car).
I have been there, done that! My ex took the car b/c my name was on it and I couldn't get it in my name alone.
He COULD be nice and just leave it as it is, in both your names but, most exes don't want to do that. Sorry for your separation and I do hope he has the heart to keep it like it is, as long as you can make the payments and insurance payments.
2007-11-08 02:50:35 · answer #3 · answered by †..Jetta..† 3 · 1⤊ 0⤋
Really these kinds of horrendous issues are not worth your time. You're better off buying a beater of a car outright than fighting over this petty nonsense. Find out if he wants the car or not. Let him have the car and move on. Buy something you can afford - financially this situation is starting all over again in life. You need to re-build your credit by making payments on everything you're supposed to in time and not racking up credit card debt. It's obvious to me that they people you know do not trust your ability to manage your finances or someone would co-sign for you. Your best bet is to let the car go and start all over with a car you can afford to own outright. Cut up all the credit cards and re-build your credit. If he wants his name off of the loan - it's his job to take care of that. It's not something you have to figure out.
2007-11-08 02:49:40 · answer #4 · answered by ? 6 · 0⤊ 1⤋
If you cannot agree on a finacial split between yourselves, then the court will do it for you based on the ability to pay debts and contributions to the relationship.
One option may be to sell the car and split the equity (if there is any). You may be able to lease a car after getting off the debt as credit requirements can be less stringent for leasing than buying. Good luck
2007-11-08 02:49:18 · answer #5 · answered by Anonymous · 1⤊ 0⤋
He could pay off the car and you'd have to give the car back to him if he wanted you to He'd be awfully silly to keep his name on the loan cuz u could screw him.... If I were him I'd pay the rest of the loan off and haave u give me the car back or get you to sing a promissory note for him but make up a payment book or just get a recipt book and have u both sign when you pay and use a checking acct. with the check no and such on the reciept I'd get all info needed. but by having u both sign and paying by check will benefit both of u.......Good -luck!
2007-11-08 02:53:22 · answer #6 · answered by n p 3 · 0⤊ 1⤋
No. Both of you can say that he bought a new car and he is totally handing you over that one car u both own. That should put the title on your name only and your responsible for the payments.
2007-11-08 02:48:40 · answer #7 · answered by Tazmanian Devil 4 · 0⤊ 1⤋
i been thru this theres no way to get the car in your name til its paid for and i will suggest you sell it for what the blue book is on it and pay it off then u can go to car place that will finance u with bad credit theres lots of those places 1800barnone is one of those
2007-11-08 02:52:10 · answer #8 · answered by child4jc74 3 · 0⤊ 1⤋
fix your credit. there are companies that can help you do this for a fee. get your own credit report at annualcreditreport.com for free and see why your credit is not good. do not cheap out on this. it will cost you money to do this.
2007-11-08 02:49:43 · answer #9 · answered by Different Answers Carlton W. 3 · 0⤊ 1⤋
You will have to work it out together or give up car!
2007-11-08 02:46:37 · answer #10 · answered by Hari O 4 · 2⤊ 0⤋