Cars in her name, dump them, buy new ones?

[fd1000]

We are not divorced yet. However both of the cars we have now, were purchased in her name. So there are two car loans, her name is on both.

Both car payments are high, we are even or just barely upside down on both. I have looked into refinancing both of them.

Since she owns them, she must be the one to refinance them, and she is not employed, and her credit is busted, so she cannot qualify.

My credit is on life support, but I think with a little work my credit could be good enough to refinance, except of course, I do not own the cars.

If we divorce, I want her to have some type of car (at least that is my wish). If she takes what she is driving now, she will never be able to afford it, and god knows I wont be able to afford everything this will cost me, and help her pay for that car.

So, I would like to either lower those payments, or get her a cheaper car.

So here are the options:

- Fix my credit, and buy the two cars from my wife, better payments, she takes one of the cars after divorce.
- Fix my credit, try to refinance the cars with me as co-signer, she takes one of the cars after divorce.
- Dump the two cars, she after the divorce will probably need/want to go bankrupt, let bankruptcy take care of the cars. Before the divorce, fix my credit, and buy/lease two new/used cars, that are cheaper.

If she is going to go bankrupt, just dump the cars? Get different ones in my name? I'm not out for blood, she needs a car, and I don't mind being the only one on the loan if that's what it takes. Especially if its way easier to pay for, then what she is driving now (because ultimately, she has to pay for it herself, hopefully)

So guys, what do you think would be the best path through this car mess?

[Fatheroffour]

Generally, you each would get a car in the property division of the divorce.

Whether of not she will be able to afford it is no longer your problem post divorce.

Are there any kids riding in these cars?

[Tyrell]

You don't want your name on her car post divorce. If she were to let the insurance lapse and then got into an accident, you would be liable for damages and injuries. What ever you do, I'd suggest you get everything cleanly seperated as much as possible.

[Trevor]

You left out the option of buying yourself a reliable beater and letting her do whatever she wants with her cars. You might even help her to sell one of the two cars, maybe even to you, at a good price, so it would be in your name only. Why weren't these obvious options in your head? [Rhet.]

[chereeda]

Your inclination to remain in rescue mode makes me worry about the terms for the rest of your settlement.

I need a new car too, BTW...

donna

[blueTexas]

What everyone else says. If you help her out, make sure you get something of equal or better value in return, not falling on your sword type stuff.
It's called negotiation.
But take care of yourself first. Ensure you end up with a reliable car, in your name only, one way or another. Make the payments on it. If you buy a car from a third party, do so after the divorce is final or it will become part of the settlement.

[fd1000]

Thanks everyone for the replies.

Yes, there are kids involved. That's my hangup.

I am a stickler for safety, and I can't handle my two little girls riding around in some POS rust bucket, 70 miles an hour down a icy highway with dumb dumb mom not paying attention.

Actually I have considered buying the car I drive from her, just putting it on the list of possibilities, trying to compare to the other options.

I just got done reading 'the list' and other things here, so LOL I was afraid I would get killed for suggesting I get some type of car for her.

However I do have a good question along those lines... when kids are involved, and custody is 50/50 how do you handle your x being left with a crap apartment, crap car, so on?

If it was just her, I would not care. But when I think about throwing her out, it means in the end that I am also throwing my kids out for 50% of the time.

If she winds up in some crappy apartment, my kids will be spending half their time playing in a parking lot, with god know who coming and going. Right now, they have a fenced yard, and safe car to ride in, a safe neighborhood.

And, I don't care how much you hate your x, but how do u handle her not having any money, no credit cards, no job, no credit, nothing. And by the way, we live paycheck to paycheck now, we have no assets, house is not worth anything. I certainly could just lock the door, but she would be out there knocking for 18 hours. I dont hate her, not looking to destroy her, but that doesn't mean im a push over ready to get screwed.

So, your soon to be x is absolutely busted broke no job, u are going to share kids 50/50, how exactly is she gonna get an apartment? When she walks out the door, 50% of my kids time/life is going with her, that's why I care. Uhg.

I wanted to also say that I am just confused and depressed right now, and I totally appreciate anyone taking the time to answer. Hope I dont sound pushy or convinced of a certain way, all I know is I live and die by my kids, my marriage sucks, I gotta get out, and finances suck. Tell me something I dont already know right? lol

[Fatheroffour]

However I do have a good question along those lines... when kids are involved, and custody is 50/50 how do you handle your x being left with a < edited > apartment, < edited > car, so on?

I'm in a <poo> apartment and a <poo> car. How about some help?

Or you could look at it like many. She has the entire resources of the state and federal government education and welfare systems at her disposal. She is responsible for her choices.

The problem with being a Captain is you can't save the ho from themselves.

[BubbaGumpShrimp]

Not your problem. If she wants to allow you to re-finance (if you can) one of them...do so. Don't co-sign for her or take over both of them. Seriously...the most stupid thing that I did with my NJ (aside from marrying her) was putting her on the title of the car that I financed for her. It's the only piece of joint property (both of our names), because of that stupid stunt.

What I did for my property settlement agreement is offer to continue paying for her car ($200/month and $6k left). Why? I (and the lawyer) felt that it would make more sense to throw her that nugget than hassle over it. However, it's also in the agreement that she has to maintain insurance coverage and maintain the vehicle.

Even that is being generous. I'm already regretting that one. My advice on the car issue...walk away. Let her default on the cars and buy a beater. That's probably the best thing for her anyways (unless you want to continue supporting her on every little thing after the divorce).

[hoosier_dad]

Post-divorce she'll need to stand on her own two legs just like you. You'll need to figure out on your own when being her safety net becomes being her enabler. The more you're there to prop her up and catch her drops the less she learns to stand on her own.