Bill_123 Posted July 27, 2012 Posted July 27, 2012 If both of our names are on the title and only my name is on the loan. How much trouble could I be in-in a divorce? The car can be sold and a profit of a little over $10k be made to purchase another car and not need a loan. Spouse is currently seeking out their own loan but I am concerned it may be disapproved to credit history. What if spouse says no matter what they won't get rid of the car?
Author Bill_123 Posted July 27, 2012 Author Posted July 27, 2012 Note: We both work and make about the same money.
carhill Posted July 27, 2012 Posted July 27, 2012 Did you buy the car after you were married? Are you expecting to divorce? If yes, do you expect the divorce to be contested or amicable?
Author Bill_123 Posted July 27, 2012 Author Posted July 27, 2012 Did you buy the car after you were married? Are you expecting to divorce? If yes, do you expect the divorce to be contested or amicable? Yes, purchased after marriage. Yes, we are expecting divorce. Everything is amicable right now, we are getting along good. I know spouse just really doesn't want to get rid of their fully loaded car for one of lesser value. I also don't want to be on the loan for THEIR car.
Ami1uwant Posted July 27, 2012 Posted July 27, 2012 Yes, purchased after marriage. Yes, we are expecting divorce. Everything is amicable right now, we are getting along good. I know spouse just really doesn't want to get rid of their fully loaded car for one of lesser value. I also don't want to be on the loan for THEIR car. Have you talked to her about her taking over the car loan? Can she handle it? How does this car factor into other assets to split? How many payments are left on the car? You can maje an agreement to pay off the car in lieu of other alamony or other payments. Do you two have kids? Are you going to have to sell off other assests such as the house? Which then goes to pay off the remaining balance of the car and other bills. Then you two split everyting up.
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