How to get my dad's name removed from a car loan?

Question

My 75 yr. old father met a lady friend a few months ago. Somehow he ended up putting his name on a new car loan for her due to her credit not being that good or so she says. This new car is 2 months old now. One payment has been made. Supposedly she is giving him the money for the car loan and the car insurance.

But I also found out that the registration is in his name and he put this car on his insurance policy. My sister and I found this out because we were getting his mail while away on a trip. Now, he says he wants his name off of the loan. How can we get his name off of the loan legally? Can we transfer it to her somehow? He also said he doesn't want to be her friend anymore. I think he just realized what he had done. I do know his credit score is damaged now due to this and other activity due to her. My main concern though is to get this car loan out of his name.

Answer

Sell the car. If it's all in his name, then sell it and

pay off the loan with whatever you get for it. Then,

finish off the rest of the loan month to month. I

don't see any legal recourse here, though I'm not a

lawyer. Your father bought a car, then regretted it.

Unless you are trying to argue he was manipulated into

it? In which case, he would have to have some sort of

condition that put him in a position to be manipulated.

Or are you saying that they co-signed on the car? I'm

unclear, now that I'm re-reading your post.

How to get my dad's name removed from a car loan?

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