Financing question
 

So I have a quick question for you guys.

I helped the ex with her car purchase and paid off the car. Now that we're not together any more I just want her to pay me off completely for the amount that she owes me. She tried going to the bank to get a loan but even though her credit is good the income portion is too low. I own the car right now and I have the title, but I don't want to have anything to do with her or the car. Is there a way that I can go through a dealership of some sort and have them finance her with the car as collateral so I can finally get rid of it?

She wants to make monthly payments to me with a promissory note, but you know that even with that if she was to just leave town there's not much I can do about it. I just want my money back. So right now I am considering the following options:

1. Try to get some car dealership to buy it and then sell it back to her.
2. Let her pay me back month. NOT what I want to do since there's the insurance situation
3. Just sell the damn car to someone and tell her she's SOL, but this means I will lose a few grand in the process

Yes, I know it was a mistake to co-sign and pay off the car, but what's done is done and now I just want it behind me.

Thanks fellas.

How much is the car worth?

Sell the car... Give her back whatever $$ she paid in if anything and part company.

How much are you owed? If it's like 1000 bucks, then forget it. Not worth the hassle.

It's significantly higher than $1000 otherwise I'd just say eff it.

This. Except don't give her back EVERYTHING she paid. She did drive the car and put miles on it. You lose some, she loses some, everyone loses. You already realize it was a mistake to put yourself in this situation, just take the loss.

Ideally you could accept monthly payments from her, but everyone knows you'll get paid a few times then it'll start get harder and harder to get the rest from her as time goes on.

This! See, you're fighting for something that has a decreasing value.

That's what I am thinking. I think I'll just take it down to a dealership and sell it there and have her deal with whatever they want to do with the car afterwards. Man, such a headache. I can't imagine what the fellas going through a divorce must feel.

That's what I am thinking. I think I'll just take it down to a dealership and sell it there and have her deal with whatever they want to do with the car afterwards. Man, such a headache. I can't imagine what the fellas going through a divorce must feel.
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Nothing, nothing at all, I'd bury her and keep the car. This mentality ensures a long stable relationship and a promise of never giving up cars. ;tipwink:

The car is worth approximately $11000. She owes me $11500. I am thinking the dealer will probably give me low book value for $9000 or something and then she can buy it back from them for whatever they want to sell it for. I'll take the hit on the loss...I don't even care about that. So yeah, if any of you work for Honda and wants to make a quick buck by helping me with this then feel free to let me know.