Transfer of car ownership

[PursuitOfHappyness]

Hello Forum,
Got great advice so far so trying again.

The car my ex is driving is in my name. I pay the monthly payments and the insurance. She pays the gas and any maintenance.

I want to transfer the ownership to her and for her to take over all financial obligations for the car.

However they are only agreeing to take it over at the "Black Book" (wholesale price). This is a 2 year old car so there is a significant difference between wholesale and retail. This is primarily for NFP calculations.
Any advice on what price should I accept? And how to defend it.

[KeepSmiling]

It is your car, take it back, sell it.

[ddol1]

your car in your name - they can't force you to transfer any possession - just the equalization of your property payment needs to be paid. Either way you are going to face th esame BS of who is going to take the entire depreciation hit on the automobile when in my case the car was fully a joint asset as she did not drive let alone own a car - she got full benefit of it though!! Your case seems to be more what number?? I will suggest you go to the dealer and ask for them to give you the fair wholesale price of the car on your valuation date, you can also go onto a site called VMR Canada and find out the pricing yourself - if they will just contest anything you produce, I highly suggest getting th edeal involved - they are in fact the expert in this situation.....

You will see a huge hit in value as the majority of depreciation per year happens in the first couple of years. If you want to best serve your wallet, find out the today's value and pay her half of that. Then drive the car yourself??

[FightingForFamily]

We did black book, the car was almost worthless in the grand scheme of things.

[PursuitOfHappyness]

I want to be fair and avoid conflict. Like most people (not sure about the ex though), I want to move on but don't want to get screwed in the process.

I know she needs a car to drive to work and pick up our daughter. So I'm fine with transferring ownership but at a fair price.

Thanks ddol1, I will check out the links and will talk to the dealer. You hit the nail about depreciation, it is as if she is getting a hardly used 2 year car at wholesale price. I'm struggling to see the fairness in it.

[OrleansLawyer]

If she is unhappy with the price offered for selling your car, she can use her funds to purchase someone else's vehicle.

If you want her to keep the car and are interested in giving her a deal, contemplate somewhere else she may be reluctant to give and make the trade. Be wary of giving away the cards in your hand without securing what you hope to receive in future.

[caranna]

OP, My to be ex has my car and is refusing to return it even though he has a car of his own. I pay the insurance on it. Since I also have a car this does not make much difference. The car itself is worth about $3,000. but is (or was) in excellent condition for its age. Hopefully it will all come out in the laundry.

[Knave]

I have a similar situation, and it is a serious sticking point in a final negotiations. We bought a nice new car about 5 months before separation. It is now a year and a bit since separation, and car value has depreciated badly. She wanted to pay "book" value for the car. I offered to give her the car at current auto trader values. She declined. I offered to buy the car at auto trader values, she declined.

Essentially, she demands that the cars be sold at a tremendous loss. She also wants to use the car for 120 days after the separation agreement before selling the car.

She didn't even respond to my last offer with regards to the car, preferring to just ignore them. I'm guessing that since we are not going to court, that nothing can be "forced" unless I am willing to go to court, so I'll have to negotiate, even though she doesn't really want to negotiate.

[OrleansLawyer]

I'm guessing that since we are not going to court, that nothing can be "forced" unless I am willing to go to court, so I'll have to negotiate, even though she doesn't really want to negotiate.

If the car is the last issue, and it is in your name and possession, then if she is not willing to negotiate let the issue die. Drive your car, sell it, do whatever you'd like with it.

[Knave]

If the car is the last issue, and it is in your name and possession, then if she is not willing to negotiate let the issue die. Drive your car, sell it, do whatever you'd like with it.

In a sad twist, the car she drives is in my name, and the car that I drive is in her name. I'm guessing I can't just let her drive around a car that is in my name, with a loan that is entirely in my name as well.

[FB_]

In a sad twist, the car she drives is in my name, and the car that I drive is in her name. I'm guessing I can't just let her drive around a car that is in my name, with a loan that is entirely in my name as well.

Just remember if she kills someone drinking and driving your car who is legally liable.

Edit: I'm in the same place however we have our names on both vehilces. I wanted her to get her own insurance and my lawyer said that would be stupid as I need to make sure the vehicle continues to be insured for liability since my name is on it.