LOCATION: OREGON
Years ago, my ex called me and asked me to help her get a car. She needed me to sign the loan because her credit was too bad. I did it, because she has a kid and I couldn’t leave them without transportation. We’ll, three years later and what’d ya know it was a bad decision. I told her I would cover the insurance, but she said she could pay the loan. Except she misses payments or makes partial payments. It either affects my credit or I pay it. Title is in her name, loan is in mine.
Now, she’s reached out and asked me if I would take the car from her, because she wants an SUV. She said I could refinance it, turn in her car and mine and get an even better car. Except I can’t afford a car loan right now, I just moved and told her she needs to start paying it herself.
So, do I take the car and try to refinance? What is owed on the car is more than the car is worth.
I want to be rid of this connection with her, without fucking myself over in the process.
Comments
You are on the hook for the loan. If you are able to get the car to sell, put all that towards the loan, then pay the rest off. Unfortunate, and expensive lesson. Obviously do not assist in getting another loan for her. Big heart is leading to empty pockets.
If she is going to sign the car over to you do it. It will give you more control over the process of ridding your self of the loan. As I’m sure you know, you were fucked when you said yes and signed in the beginning. Good luck., this one is going to get complicated.
Why would you need to refinance it? The loan is already in your name, right?