Consumer Law, Warranties Verbal Agreement with Father for car loan

Status
Not open for further replies.

jttersh

New Member
When I was 19 years old my father talked me into getting a car loan in my name so he could have a car to get back and forth to work. The reason for this was that his credit was not good enough for him to get him own loan. We had a verbal agreement that the he would make the payments on time every month. I am not 23 years old and he was been late on the payments over 13 times and I know that it is affecting my credit score. I do not have the option to refinance the car into his or my mother's name because both of them have bad credit. I can't take the car away from him and make the payments myself because I wouldn't be able to afford it. How can I go about getting this car out of my name so I can stop my irresponsible father from further destroying my credit?
 
Unfortunately, in my understanding, you have very few choices. You need to tell your father that, as much as you understand his needs, he is destroying your life after you have allowed him to use the car with best intentions. If it is your car under title, best to take back the car, sell it, and try to work out a payment plan with the financing company. If your father screams, it's unfortunate. What else did he want you to do after causing the problem? I don't know more and this is all I know from what you wrote.
 
Status
Not open for further replies.
Back
Top