My Husbands truck is in my name

[Anonymous]

Do to his credit not being good, it was puchased in January so the loan is "new" well he has decided to leave and I am trying to figure out if there is a way to get him on the loan and me off? What would we need to do would it be considered a purchase or a refinance ? His name is not on it just mine.

Thank you

[Anonymous]

Sell it.

[Anonymous]

I would love to but can"t make up the money we would lose on it.

[Hoya08]

Only way to get him on the loan is if he purchases it from you.  A refi, with him as a co-applicant/co-signer, will stil have your name on it.

[ezdriver]

As others above have stated, the truck needs to be sold in order to get you off the hook. Maybe sell it and make him pay the difference if the loan is more than the sale price. alternatively, just take the truck from him. One way other the other, the current loan has to be paid in full to get your name off it.

[Anonymous]

You need to consult with an attorney.  Depending on the type property state in which you live it could go many ways.  Ultimately, he needs to refi into his name.  At this point, you need to look out for you, just because things start out amicably does not mean they'll remain that way.  Continue to make the payments to protect your credit and make sure that you include those pymts as a credit toward any equitable distribution at the end.

[SamsungHDTV]

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@Anonymous wrote:

Do to his credit not being good, it was puchased in January so the loan is "new" well he has decided to leave and I am trying to figure out if there is a way to get him on the loan and me off? What would we need to do would it be considered a purchase or a refinance ? His name is not on it just mine.

Thank you

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The easiest way is for him to 'purchase' the vehicle from you. But he has to be able to qualify for a loan.

Or you can try to keep the vehicle for yourself.

Or you can sell the vehicle. Protect yourself, not him. If he wants to leave, then he should be prepared for what comes with it.

[Anonymous]

Everyone has provided good advice so far.  If he has decided to abandon the marriage you need to be in contact with a divorce attorney immediately.  Don't agree to anything prior to that as this ultimately will/could be decided in divorce court by a judge.

[pt145]

If you cant afford to keep it then you need to sell it. You mentioned that you wouldn't recoup what you put into it, well that's not a concern if you cant afford it. I believe the goal is to cut your losses and get rid of this quick. I would not trust him to continue to make payments on it. Hopefully your not too underwater.  Good luck.