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AIBU?

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Original poster

To ask for this money?

113 replies

Bluebluebluebell · 05/07/2019 22:05

Ex and I bought a car together a few years ago. Due to his needing it for work, we agreed that he would use it to commute but I would have priority over it at the weekend.

Now we’ve recently split, he wants to keep it. He is arguing that because he paid the insurance he has essentially invested more money into it. However my argument is that whilst this is true, adding me as an additional driver actually lowered the premium than if he was sole driver. This is because he is in a profession which is considered high risk whereas mine is viewed as low risk.

However we split costs for maintenance and service etc.

The car was bought for £20k and is now worth about £9-10k.

I think the fair thing would be for him to buy his share from me. Or we sell it and split the proceeds. He thinks I’m being petty and that what he spent on me over the years is way more than £5K but he’s not asking for that back. I think that is ridiculous as we have BOTH spent money on each other and gifts are different to assets like a car that we BOUGHT TOGETHER.

Sorry for the caps. I’m really pissed off with his attitude and making me feel like I’m being petty and unreasonable.

Am I really BU?

OP posts:
Mummymummums · 05/07/2019 22:55

Surely the finance cancels out the value of the car?? How can you have half when the net value is zero?

BumbleBeee69 · 05/07/2019 22:56

Ah just seen that it's on finance. Neither of you own it then.

AAhh disregard my previous comment too then lol

Snappedandfarted2019 · 05/07/2019 22:56

Hes the registered keeper so therefore it's his car, that been said theres nothing to split you've both paid 10k and theres 10k finance outstanding on the vehicle therefore the arguement is nil and void.

Bringmewineandcake · 05/07/2019 22:56

You don’t actually own the car, the finance company do. So if the car is worth 9/10 grand and you still owe 10 grand, the car is effectively worthless.
I would snap his hand off to take your name off of the finance and walk away from the debt.

HollyGoLoudly1 · 05/07/2019 22:57

I'd voted YANBU... until I read the part about it still being on finance! 10k value - 10k left to pay = zero. Half of zero is zero. YABU I'm afraid.

Original poster
Bluebluebluebell · 05/07/2019 22:57

Ok, I hadn’t actually thought about it that way.

I’m that case, I think we should sell it then. We’ve paid off just over half and that extra amount covers the interest remaining. Ok, we’re only breaking even but why should he get to keep the benefits of the car and I start from scratch?

OP posts:
INeedAFlerken · 05/07/2019 22:58

I would demand the car be sold, split what you get, and be done with it.

Snappedandfarted2019 · 05/07/2019 23:00

But you've had the use of the car for the period of time you paid 10 I surely you would just let him continue the payments for the rest. The fact is it's not actually you're car you're not the registered keeper he is so you cannot force him to sell it.

Bringmewineandcake · 05/07/2019 23:01

Because if you sell it, at best neither of you get anything. Yes he gets to keep the car but he also still has to pay the £10k outstanding finance.

ThighsRelief · 05/07/2019 23:01

I would ask to be taken off the finance agreement. You're not starting at zero - you're getting rid of a 5k debt.

HollyGoLoudly1 · 05/07/2019 23:01

I think we should sell it then

What happens if u get less for it than what is left on finance? Say you only get 8k - you would owe the finance company 2k between you. I agree with a PP - I'd bite his hand off to get taken off the finance and walk away from the debt.

AJPTaylor · 05/07/2019 23:02

If it is joint finance, there is no equity and he is willing to take over payments and get your name off yabu not to do it.

PawPawNoodle · 05/07/2019 23:02

You are being petty. He is prepared to absolve you of your half of 10k debt and you've got the arsehole because he will end up with the car for it? You're both effectively renting it at the moment anyway, see it as you've paid 5k to rent the car and stop being so childish about it.

Soontobe60 · 05/07/2019 23:02

Ok, so now we've established that there is no 'equity' in the car then it means that there's no requirement for him to pay you anything. Have your name taken off the finance and then buy yourself your own car.
The thing with cars is that they depreciate very quickly. You have a car worth £10k but you owe this amount plus interest on it, so in effect it's worthless. By the time the whole loan is paid off it might be worth £1k if he's lucky.

Mummymummums · 05/07/2019 23:03

He'd be paying the finance not you, so that's what would give him the right to drive around it. It's no skin off your nose if the car has zero net value.

Original poster
Bluebluebluebell · 05/07/2019 23:04

The thing is though I would be perfectly happy to take over ownership and keep the car myself.

Why does he get to keep it and my contributions to it so far?

He got way more benefit from it using it 3x more than me. Why does he get to take more yet again?

Even though he’s registered keeper he is NOT the registered owner. DVLA make this very clear.

OP posts:
Horsemenoftheaclopalypse · 05/07/2019 23:05

YANBU - I’d be as uncouth as fuck for £5-7.5k

As context, I’m generally labelled as posh and am a high earner and I’d 100% be persuing my money!!!!
£5k is a lot to pretty much EVERYONE not just

Sorryisntgoodenough · 05/07/2019 23:06

I am thinking as it is a joint asset, either he pays me half of what it is worth now OR we sell it and split the proceeds.

It’s a joint DEBT. The car is on finance, neither of you own it. You both, at this point, have effectively rented the use of it.

If it sells the the finance company will be paid off first- what will be left? Not a lot surely?
In you shoes I would settle for proof of having your name taken off the finance and walk away. That way when bailiffs come knocking because he has defaulted on his payment they at least can’t chase you for the remaining payment.

Horsemenoftheaclopalypse · 05/07/2019 23:06

*Not just petty uncouth ruffians

bridgetreilly · 05/07/2019 23:06

He may have contributed slightly more but he's also used it more. So yes, you get half of what it's worth. It's fine for him to buy you out or for it to be sold and proceeds split.

And ignore his family. He's ex and so are they.

Jemima232 · 05/07/2019 23:07

So between you, you owe ten grand plus interest

How much is the interest?

If he keeps the car he'll have to carry on paying for it. He doesn't owe you anything.

If you force him to sell it, you'll still owe the finance company the ten grand plus interest.

As PP said, the car is in the red.

StepAwayFromGoogle · 05/07/2019 23:08

Just realised it's on finance too. In that case you are being massively petty. As a pp said, half of nothing is nothing. Just sell it.

PawPawNoodle · 05/07/2019 23:09

He is the registered keeper and neither of you are the legal owner. You have no entitlement to just pick up the car and drive off, your only real interest right now in the car is the debt attached to it.

He got benefit 3x more than you did because that is what you agreed when the car is brought, you cannot get pissed off by a past mutual agreement.

Did you break up because he realised you are actually a 10 year old child? Christ.

bridgetreilly · 05/07/2019 23:09

Ah, fair point on it being debt, not asset.

In that case it's fine for him to keep it and keep making the payments on it. You still get what you would if you sold it, i.e. nothing.

RonnieScotts · 05/07/2019 23:09

If you sell it for £10k but you owe£10k on it then you will both walk away with nothing. Expecting £5k from him is a bit unfair surely?