My car is in my name and the co-signer is my sister-in-law. My soon to be ex-husband wants the car and I dont. I cant trust him to make the payments and that would ruin my credit. I just want my name off the car and the insurance. Is there a way just to change it? It is financed and quite a bit ($15,000.00) owed on it. Am I stuck with it or can I just turn it over to him and how would I go about it? Thanks in advance!Question about taking my name off a car title?
You'll have to get the finance company to accept him and change the loan over to his name as you really don't have the title until the loan is paid off. The title you have is marked Non-Negotiable, meaning you can't change it over to anyone. Once the loan is paid off then the finance company sends you a true title showing the lien has been released.Question about taking my name off a car title?
You cannot %26quot;take your name off%26quot; a car title without the permission of the lender. They might make the switch if the new person is a good credit risk, but are totally unlikely to do that otherwise.
The best bet is for him to get his own loan and buy it out from you and your sister in law.Question about taking my name off a car title?
You can write up a contract and get it notorized. In the contract, state that you(your name) is agreeing to let your soon to be ex-husband(his name) take over the payments as long as he agree's to pay on time every month and pay it off. If he doesn't follow the rules of the contract, you can take him to small claims court and sue him. I've done it before and its a great way to get a extra income lol.
