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“My son and his girl friend bought a car earlier this year.The car is in his name and she is the co- borrower. The car was bought for her and she makes the payments on the loan. They have now broken up. Is there a way to get his name off of the loan so he is not liable.”
Question: She likely would have to obtain re-financing to get his name off the loan, as apparently the credit agency looked to both of them to get them the loan. She may agree to try to do this because the car is in his name, and he may be able to enforce his ownership rights of the vehicle, putting her in more of the position of renter, rather than owner of the vehicle. An other part he needs to be concerned about is potential liability if she injures someone else in an accident with that vehicle. As record owner of the vehicle it would not be outlandish for your son to get sued for her wrongs if she is under-insured for damages she does to someone else while entrusted with possession of the vehicle.
