Need some advice on the car loans.

What is the name of your state? California.

My wife of nearly 4 years dropped the bomb of "I don't know if I love you anymore and think we should separate" out of the blue the other day.

We have two car loans. My car has her as primary and me as co-signer. Her car has me as primary and her as co-signer. I've saved up enough money to pay off the loan on mine and let her know that I intend to. She agreed verbally over the phone to sign the title over to me once it's paid off.

My question is: Would this be a wise thing for me to do, or should I wait on it?

wraith0078 said:

What is the name of your state? California.

My wife of nearly 4 years dropped the bomb of "I don't know if I love you anymore and think we should separate" out of the blue the other day.

We have two car loans. My car has her as primary and me as co-signer. Her car has me as primary and her as co-signer. I've saved up enough money to pay off the loan on mine and let her know that I intend to. She agreed verbally over the phone to sign the title over to me once it's paid off.

My question is: Would this be a wise thing for me to do, or should I wait on it?

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As for as the creditors are concerned, they can look to either or both of you on both car loans. The divorce cannot change the contract between you (or your wife) and the creditor. So paying off one car means that you and your wife will not be liable for whichever car loan is paid off but both of you will remain liable on the car loan which is not paid off.