(Photo credit: Wikipedia)
Car Payments & Divorce
Buying a new car is an exciting time for anyone, married or not. But when two married people jointly purchase a vehicle, and then later decide their relationship isn’t working, it can be difficult to decide the fate of the vehicle. Which spouse should get it? Should you sell it? Issues like these, if they are not resolved early, can set a bad precedent for your divorce and cause unnecessary strife for both of you. By working with an experienced Oceanside divorce lawyer, you can prevent this and other conflicts.
Most new cars are not paid for in cash. Even used vehicles can be expensive, in particular if you are looking for a newer car with low mileage. As a result, most people take out loans to pay for their vehicles as a way to pay for the vehicle in installments. This works well when it is on one person’s credit, but splitting the debt between two people can lead to a number of legal and financial complications when it comes time to separate a married couple’s finances.
A car payment that both of you can afford might be prohibitively expensive for each of you individually. If you have multiple cars, you may choose to split the cars between you one way or another. For many couples, however, it is easier simply to sell the new car and purchase one or two cheaper cars instead.
Determining the right course of action depends entirely on you, your spouse, and your financial circumstances. An Oceanside divorce lawyer can help you work through the details of your car payment, as well as all the other aspects of your marriage, to help you and your spouse determine a fair arrangement. To discuss your case with an experienced attorney, contact the Oceanside divorce lawyers of Fischer & Van Thiel, LLP today at 760-722-7646.