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Another question not sure what to do...(leagalish)

Posted by Capstern (46 Days) (aka Capstern) Sep 8 '11, 08:36

OK shes taking her car. The problem is it is in my name. Its too upside down for her to refinance. So she will pay me the car payment in the settlement until the car is paid for. (I HATE THIS) but no choice.

How can I (is there a way) to protect me if she has an accident or something in the car? I cant think of anything.

I have a friend that in the next 6 months to a year will be getting 5M dollars and told me he would pay the car off for me to give it away to her and be free but well thats not now

ideas?

Responses:

lease her the car, like sign a legal lease for it. - tRuMaN Sep 8, 08:58 3
- OH. That should shield me from lawsuit? Sort of like the bank cant be sued for being my lein holder? -- nm - Capstern (46 Days) Sep 8, 09:00 2
  - it depends on the lease, but I think so - tRuMaN Sep 8, 09:01 1
    - if this is doable, it's pretty smart, i think. - TFox Sep 8, 09:02
Seriously, just watch Judge Judy for a week, and do the opposite of what every guest has ever done in their life. -- nm - Beryllium (iPhone) Sep 8, 08:41
If the car is only in your name the insurance has to be in your name, afaik. -- nm - kare Sep 8, 08:40 3
- Yup I does and it is -- nm - Capstern (46 Days) Sep 8, 08:43 2
  - Well then you're covered (and also have to deal with insurance repercussions if something happens, of course) -- nm - kare Sep 8, 08:46 1
    - (I would make sure the liability limit is sky high, if it was me.) -- nm - kare Sep 8, 08:50
Wait a minute...did you get GAP insurance on the car when you bought it? if you did, you should still be golden. -- nm - Jim Sep 8, 08:40 7
- I do have GAP - how am I golden? -- nm - Capstern (46 Days) Sep 8, 08:43 6
  - Well, you asked about her wrecking the car. So if she wrecks it, the loan is paid off, yes? See? golden. :) -- nm - Jim Sep 8, 08:44 5
    - Sorry...the "golden" thing was only in the event of a crash. I'm kinda all over the place today. - Jim Sep 8, 08:45
    - Well true. But if she plows someones house in the process can I be sued? -- nm - Capstern (46 Days) Sep 8, 08:44 3
      - You need liability insurance, which I'm sure you have. You can also get umbrella coverage pretty cheap. I've got a $1,000,000 umbrella policy for - pmb Sep 8, 09:00
      - Like I said, if it's in the agreement then you become the Lienholder and she is the Registered Owner. -- nm - CrankYanker Sep 8, 08:46 1
        
        oh fuck, nevermind, you still owe on the car. -- nm - CrankYanker Sep 8, 08:47
sell the car -- nm - decline Sep 8, 08:40 12
- Not possible at this time. I dont have 10K to make up the difference in sales value to loan value. - Capstern (46 Days) Sep 8, 08:42 4
  - Torch it (nm) - Brian Sep 8, 08:53
  - sell your car and take that one -- nm - decline Sep 8, 08:52
  - of course it was shitty when you got it, because you didn't account for the possibility that shit happens. -- nm - loosilu Sep 8, 08:45
  - wait, what happened to your $18k? -- nm - HPV McGee Sep 8, 08:44
- Yeah, pretty much. Cut all strings. Who wants to be liable?? -- nm - kare Sep 8, 08:42
- This is the best answer. Sell it, put whatever you get toward the loan and then pay the rest off. Halfsies and stuff. -- nm - Jim Sep 8, 08:41 4
  - She has no money and I dont have the $ to do this. If I did I would and this would be moot. Just trying to figure out if there is a way - Capstern (46 Days) Sep 8, 08:44 2
    - give her the cheaper car. -- nm - loosilu Sep 8, 08:45
    - Honestly, the only way to shield yourself is to keep the car. -- nm - Jim Sep 8, 08:45
  - yes. -- nm - TFox Sep 8, 08:41
- this. -- nm - znufrii, Q-Lister Sep 8, 08:41
Can you be the "legal owner" and she would be the "registered owner"? -- nm - CrankYanker Sep 8, 08:39
As a former bill collector. I don't care who has the car or what the circumstance is. But if the payments stop coming in, I'm suing your ass. - Jim Sep 8, 08:39 5
- I understand that. I realize I have to make the payments either way. In TX if I put it in the divorce decree it is legally binding but - Capstern (46 Days) Sep 8, 08:41 4
  - why don't YOU keep that car? -- nm - Andie Sep 8, 08:44 2
    - He doen't need *two* Audis? -- nm - Spawn Sep 8, 08:54 1
      - I'll take one of them off his hands. -- nm - muzungu psilotum Sep 8, 09:03
  - I was just saying that aside from selling the car or having her re-fi it...I don't think there's anything you can do but hope she honors her side of - Jim Sep 8, 08:43
"I have a friend that in the next 6 months to a year will be getting 5M dollars" from a Nigerian Prince!!! -- nm - HPV McGee Sep 8, 08:38 1
- Hospital almost killed him during a surgery. Medical malpractice settlement. Wasnt trying to be smart assed -- nm - Capstern (46 Days) Sep 8, 08:40

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Another question not sure what to do...(leagalish)

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