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  1. #1

    Default Girlfriend Broke Up, Threatens to Sell Car

    My question involves an auto loan or repossession in the State of: Colorado.

    I recently just financed a vehicle back in Feburary. My credit was not good enough and my gf co-signed with me. I personally put 4000 dollars down, and have already made the first payment. We both agreed I will be making the payments, and when she broke up with me that I have the car.

    However she has changed her mind. She threatens that if I can't get it re-financed that she will sell the car (which would be impossible since she would have to shell out 6000 or 7000 to cover the upside down part of the loan). She claims she is the primary on the loan.

    Do I have a chance getting this refinanced??

  2. #2
    Join Date
    Mar 2007
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    Default Re: Girlfriend Broke Up, Threatens to Sell Car.please

    Sounds like that is between you and your financing company.

    However, your ex is doing the exactly right thing.

    Having your name attached to a car that someone you are no longer dating is buying is stupid.

  3. #3

    Default Re: Girlfriend Broke Up, Threatens to Sell Car

    Can she really sell the car though? She'd have to put alot of money down. I'm going to try to get it refi'd in my name, but the intention was this car was for me.

    Plus she can't even drive it because she has no insurance on it.

  4. #4
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    Default Re: Girlfriend Broke Up, Threatens to Sell Car

    Quote Quoting Derekthedomino
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    Can she really sell the car though? She'd have to put alot of money down. I'm going to try to get it refi'd in my name, but the intention was this car was for me.

    Plus she can't even drive it because she has no insurance on it.
    I cannot comment on her financial decisions.

    I can say that if the car is in her name, she has the right to sell it.

    On the title, whose name is on it under "owner" or "lessee"?

  5. #5
    Join Date
    Oct 2009
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    Default Re: Girlfriend Broke Up, Threatens to Sell Car

    Quote Quoting Derekthedomino
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    I personally put 4000 dollars down, and have already made the first payment . . .
    she would have to shell out 6000 or 7000 to cover the upside down part of the loan
    Question: You put $4k down PLUS you're upside-down $6k ?? That says the car is currently worth $10,000 less than you paid for it. Let's say the car loses 20% of its' value just by driving it off of the lot. Did you just purchase a $50000 car with a girlfriend?

  6. #6
    Join Date
    Jan 2006
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    Default Re: Girlfriend Broke Up, Threatens to Sell Car

    who is on the loan is irrelevant. It is who is on the title of the car and how they are linked on the title.

    If it states "or" between the two names, if there are in fact 2 names on the title, yes, she could sell the car without your permission. If only her name is on the title, yes, she could sell the car. If it is both with either no conjunction or with "and" or just your name, she cannot alter the title without your permission.

  7. #7
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    Oct 2009
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    Default Re: Girlfriend Broke Up, Threatens to Sell Car

    Quote Quoting Derekthedomino
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    Do I have a chance getting this refinanced??
    Seems there's a chance: "(WellKnown Finance Company) is one of the few lenders that will refinance a vehicle for more than its current value."

    What is your current interest rate? If it is high, you may be able to get a lower one with a re-fi.

    Quote Quoting Derekthedomino
    View Post
    she can't even drive it because she has no insurance on it.
    She can easily pick up the phone, call her insurance company, and add it to her policy.

  8. #8

    Default Re: Girlfriend Broke Up, Threatens to Sell Car

    The title is in both of our names, so yes "And".

    justtoonice - I rolled over negative equity because I did a trade-in. Which is why she would have to make up the difference for that negative equity.

    My interest is a vairable one, I think its 6%.

  9. #9
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    Default Re: Girlfriend Broke Up, Threatens to Sell Car

    Quote Quoting Derekthedomino
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    The title is in both of our names, so yes "And".

    justtoonice - I rolled over negative equity because I did a trade-in. Which is why she would have to make up the difference for that negative equity.

    My interest is a vairable one, I think its 6%.
    So it sounds like you have to find yourself some financing tomorrow.

  10. #10
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    Default Re: Girlfriend Broke Up, Threatens to Sell Car

    Quote Quoting cyjeff
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    So it sounds like you have to find yourself some financing tomorrow.

    why? the girl cannot do anything without the OP's agreement.

    Now, one thing to be aware of: either of you have a legal right of possession of the vehicle. That means, if she comes and takes it, the police cannot do anything just the same as if you go an take it back.

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