Legal Question in Credit and Debt Law in New Hampshire

auto loan contract used for gift

Becaus he has bad credit, I financed a vehicle, in my name, for my boyfriend. We have since separated. He still has the car. He signed a written contract I wrote stating he would pay the monthly payment for the duration of the loan. The exception being if he trades it in for another vehicle, I would transfer it to his name so the loan could be paid off by his new lender. I realize this wasn't the brightest decision I've ever made. However, I'm stuck with it. Or am I? Is the exception I stated earlier accurate? And Is there a way to get out of this?


Asked on 12/05/06, 9:28 pm

1 Answer from Attorneys
Jef Henninger, Esq Law Offices of Jef Henninger, Esq.

Re: auto loan contract used for gift

I deal with this all the time. He need to refi the car and put it in his name. That's pretty much the only way around it. Since your "contract" did not invovle the creditor, you cannot bind them to something they were not a party to.

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Answered on 12/06/06, 12:08 pm


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