Issue over car and loan

[jorainbow]

Hi hope all are well. My husband and I separated in December following his infidelities. I have a loan for a car we purchased which he agreed to continue paying half for. It's in my name. He has made payments since the car was bought and until April. He rang me yesterday demanding I sell the car, pay him half the proceeds which he will then take off the outstanding balance. I spoke to a solicitor last year who seemed to suggest we need to pay the loan then sell the car. Either way since we had it (3 years) he has had benefit but never paid anything for upkeep insurance etc. It's now sat with a broken spring so will need fixing before it's sold (which won't happen right now anyway!). Can anyone advise best course of action? Thank you

[ostell]

Have you looked at Voluntary Termination of the contract for the car? If you have paid 50% or more of the credit then you just hand it back more or less. But yes it will probably need fixing.

The amount for VT should be in the contract

[jorainbow]

Hi Ostell and thank you. Sorry I'm not sure what that means? The loan is a personal loan through a bank not a finance agreement so there is no one to hand it back to?

[ostell]

OK so you can't VT.

So what is the amount outstanding on the loan and the value of the car?

Asit's a personal load rahter than a credit agreement them the car is your to sell.

[jorainbow]

The loan was above what the car was bought for as we also used it for paying a large vet bill and a holiday as well. There is 2k left on the loan and the car at best is worth 1k. The agreement when the loan was taken out was we paid half each which is what has happened since then and agreed in writing when we separated. If he wants to change the agreement I assume I can sell the car and put the money against the loan? I guess he sees it as paying for something he isn't using.

[jorainbow]

Hi. Thanks for the advice so far. Is there anything else I need to know please as he is pushing for a sale or will this have to go via solicitors which up until now there has been no need for as it has been amicable. Tia

[ostell]

If it was a loan from the bank to purchase then you can sell the car yourself, pay off the loan, or some of it, and share any remainder with your husband