Divorce and car finance

jaqthecat

Hi
Looking for advice.
I have recently left my husband and i will be filing for Divorce tomorrow.
My question is... I have a car on finance which i pay for every month.. The finance is in his name. I want to return the car to him as I can no longer afford the payments.
My question is , if I stop paying and return the car am I liable, will the debt be mine ?
thanks

[Deleted User]

Something similar happened to me many years ago - was paying finance on a car for my now ex-wife. I was told that it was my responsibility and I had to keep paying, the value of the car was however off-set against the assets that she received ....

onlyroz

What percentage is owing on the finance? And is this a PCP or an HP loan? If you have paid 50% of the debt then you are legally entitled to hand the car back. Google "Voluntary termination of car finance" for more information.

jaqthecat

He got the car in September 2014 it was a del from GMAC for a 3 year finance deal,, so after the 3 years you could hand it back, get a new car or pay off the remaining finance.
the loan was for 12000 and as of today the settlement figure is £5100. I rang the garage to ask what to do and he said the finance company will not talk to me about it as they legally own the car and its in my ex husbands name.
I asked him how much my car was worth today he said £3600 because I have gone over the millage by 17000 there would be another £1500 to pay. or he would waiver that if he bought another car.
I have been paying the finance since then £225 a month!!!

onlyroz

As you have paid more than 50% of the original 12000 you should be able to hand the car back then. You might be liable for any excess milage charges and any damage beyond "reasonable wear and tear". There is some very good advice on Voluntary Termination on the Legal Beagles forum. However, as the car is in your ex's name, he probably has to initiate this himself.

jaqthecat

There isn't much I can do except to hand it back to him is there?