Traded car not knowing it was under my wife's name

eadrian75

New Member
Jurisdiction
Illinois
I traded my car for a used vehicle and was allowed to take it home despite later finding out the title was under my wife's name. The dealer called asking that she sign the title so that they can move forward with the sale of the trade-in.

My wife does not want to sign the title and instead get the car back.

What options do we have? Are the contracts I signed void considering she was the owner?
 
The dealer called asking that she sign the title so that they can move forward with the sale of the trade-in.

My wife does not want to sign the title and instead get the car back.

And what did the dealer say when you informed it of this?

Are the contracts I signed void considering she was the owner?

Contracts (plural)? Void probably isn't the right word, but it's really up to the dealer. I hope the contract(s) doesn't contain a representation by you about the title to your wife's car. I also hope you haven't put any significant mileage on the new car.
 
What options do we have?

Bad and worse.

Are the contracts I signed void considering she was the owner?

No. The contract is binding. You are obliged to provide good title for the trade-in. If you don't, the dealer can demand cash to cover that amount. If you can't come up with the cash the dealer or lender can repossess your car, resell it and come after you for any deficiency. The repo will trash your credit. Whether you get the trade-in back any time soon is anybody's guess.

As previously noted, it's up to the dealer if he wants to rescind the deal and give you back your wife's car. Even if he does that, it's likely to cost you some money to unwind the deal since you've had use of the car.
 
So you never thought to at least mention to your wife your intention to trade in one of the family vehicles and get another one? Major events such as that are usually discussed ahead of time.

I doesn't sound like you communicate very well in your marriage or you don't think very much of your wife.
 
I would expect that if you take the trade in back you will become responsible for the difference in cash. You could get this as a small personal loan if your credit is good and you don't have the money in the bank. Failure to pay will result in reposession.
I doubt you will be able to exchange vehicles again and pretend nothing ever happened. The dealer wants to be paid, and you promised to pay.
 
It's up to the dealer if they will give you the trade back and void the sale. They can, but they don't have to. Get with them immediately because if they have already sold the trade it becomes even more complicated and costly. You will owe them the amount they gave you for the trade, plus the tax credit, plus any work they may have done to it.
 
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