If I am able to purchase another car, I may give my husband my car and he would continue to make payments on it until it is paid for (approx. 2014). Allowing for depreciation, the value of the car today translates to around $10, 500, and I’ve paid for roughly half of it to date so I’d be giving my husband the equivalent of about $5000. My husband is willing to accept this offer or an equivalent e.g. $5000 from my retirement account, however, we would both prefer it if I could simply transfer ownership/ responsibility for the car to him. The problem is that he is in a financial crisis. While he has a job which pays about 50K a year, due to credit card fraud and bad financial management he is unable to cope at the moment. e.g he was recently evicted from the apartment we used to share.
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