Husband and I can't keep paying one of our cars , so we decided to give it to a family member. The thing is that she can't get a loan from her bank. We were told an attorney or lawyer can make an affidavit stating that she is responsible for the car, (payments, insurance,care, everything )
Even though is under our name.
Is this possible? If not.
How can we give her the car without being responsible if anything happens.
An attorney can draft an affidavit for this purpose, but it may or may not be accepted by the finance company. In all likelihood, there will not be a way for you to just let that family member just "take over" your payments without you still being on the hook if anything happens. You could sell the family member the car for the amount that remains on the loan and the family member could go get a loan from a different finance company, that's the way these transactions are normally handled. If the family member doesn't qualify for such a loan, then you might just be better off going and selling the cars to a dealership or someone else.
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