Auto refinancing while unemployed

[-Lucky38-]

My husband and I will be getting a divorce in the very near future. He has been unemployed for 3 months but collects unemployment ($1,000 a month).  Our auto loans are in both of our names.  I don't see any problem with refinancing my own car in my name, but am wondering if there is anyway for him to refinance his car in his name?  In my Google searches, I'm not seeing much information in using unemployment as the source of income for refinancing. 

Also, since we are still technically married - could he "claim" my income when he refinances?  Not sure if this would constitute fraud, but I REALLY need for his crap to be in his name and not mine.  I don't want to be paying his car loan for the next 5 years.

If he can't refinance, I'm going to offer to pay his car for two months before he has to take over the payments.  If he does not pay, and I take the hit on my credit - does anyone know how drastic of a hit it would be?  I have excellent credit and still plan to pay my car, mortgage and student loans. I just can't afford all four of them on my own. 

Suggestions?

[coterotie]

Little bit of a grey area.  Yes he can count your income for the most part, applications make provision for this.  However, some lender's ask more questions than others.  If he can qualify, I would suggest Cap1.  They are quick and relatively pain free.  Look at the income categories on the application and you will see how he can use the income.  Cap1 will not finance cars where unemployment is the only source of income.  So be forewarned.  Your other choice would be to sell the car and give him enough cash to buy a clunker.  I know it seems expensive, but the damage to your credit if he defaults while the car is in your name could be 10's of thousands of dollars over the next 7 years.

Here is where being rational and businesslike instead of emotional and punitive will pay big dividends.

---

@krelavie wrote:

My husband and I will be getting a divorce in the very near future. He has been unemployed for 3 months but collects unemployment ($1,000 a month).  Our auto loans are in both of our names.  I don't see any problem with refinancing my own car in my name, but am wondering if there is anyway for him to refinance his car in his name?  In my Google searches, I'm not seeing much information in using unemployment as the source of income for refinancing. 

Also, since we are still technically married - could he "claim" my income when he refinances?  Not sure if this would constitute fraud, but I REALLY need for his crap to be in his name and not mine.  I don't want to be paying his car loan for the next 5 years.

If he can't refinance, I'm going to offer to pay his car for two months before he has to take over the payments.  If he does not pay, and I take the hit on my credit - does anyone know how drastic of a hit it would be?  I have excellent credit and still plan to pay my car, mortgage and student loans. I just can't afford all four of them on my own. 

Suggestions?

---