“It depends on whose name the car title is in. If you own the car legally (or by decree during the divorce), you can surrender the vehicle.
One of you is going to have to pay for the difference between what the car sells for and what you still owe on the loan, but at least your credit won’t be at risk.
If it’s possible for your husband to refinance the car with someone else as a guarantor, that would also be an option. Be aware that if your name is on the loan, you’re always going to be equally responsible for the payments, no matter what was decided in the divorce settlement.
If your ex-husband is able to refinance in his name or if you surrender the car, you will need to adjust your car insurance policy. I know it adds another thing to your plate during a stressful time, but Jerry
is here to help. Jerry is a free
online comparison tool that shops for the best deals and delivers them to your phone in minutes, so you can save time and money, allowing you to focus on how to start your new life.”