Legal Question in Civil Litigation in New York
car title transfer
I used my good credit to help my girlfriend buy a car. She is making all the payments, but the car is in my name (I have possession of the title) and so is the insurance coverage. We broke up. I don't want the car. I just would like to get the car out of my name and the possible insurance liability, too. She says her credit is too poor to get a loan. What are my options?
1 Answer from Attorneys
Re: car title transfer
Sell her the vehicle and give her the loan yourself at a decent rate of interest. Otherwise, revoke her right to use the car, sell it to pay off the loan, you can split any profit or give it all to her as she paid for the lion share of the vehicle but also drove it the most. Of course you can always keep any profit but you are buying yourself more hard feelings and possible law suits than the car is worth.
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