Car payments

[Justme49]

My partner bought a new car two years ago and I've contributed monthly to it. He has paid the car off but I still contribute my monthly payment.
I have suggested I might like to get a newer car now. Either trade in current car or I'm happy to go it alone and get my own car in my own name.
He said you won't have a deposit though and I said I would be looking for a percentage of the monthly payments I have made. He went nuts and cannot see that I have contributed to his car and continue to do so.
The question is, am I right or wrong in thinking I am entitled to something back from the proceeds of sale.
Thanks for reading.

@Bunnyfuller in what way is she paying him for nothing. He has financed a car purely for her use and then accepted what appears to be a low monthly contribution from her on the understanding that she can spread the cost over a longer period hence making it more affordable for her.

If you buy an expensive item on credit you can't stop paying for it until you have paid the full amount plus interest even if you sell the item before it's paid for- and you certainly can't claim the money back. However you can use the proceeds of the sale to pay off your debt.

And he's only actually expecting half of the value - so he's paying half towards a car he hardly uses.

But he isn't though, is he? He's wanting OP to make payments to reimburse him the entire amount he's paid out, if I understand correctly.

Say the car was $5000. In two years, they've each paid $2500, and it's now paid off. But he wants her to continue to pay him until she's paid the whole $5000. Which is fine, except that he has no intention of signing the car over to her once he's been reimbursed.

Say the car was $5000. In two years, they've each paid $2500, and it's now paid off. But he wants her to continue to pay him until she's paid the whole $5000. Which is fine, except that he has no intention of signing the car over to her once he's been reimbursed.

Buts she hasn't paid half. She has fu use of the vehicle and hasn't paid half, but wants a chunk of her money back.

OP, If you still owe money to your dp, why are you considering buying another new car? What is wrong with a 2 year old car. Buying a new car when you haven’t paid your dp for the existing one is bizarre and makes no financial sense at all.

I'm so confused!

OP can you please explain from the start?

Sorry, so you pay for the maintenance, fuel etc AND continue to make monthly payments?

Huh?

Sounds a lot more confusing than it should be, the only major problem I can see is that he expects another 2 years of payments to even it out, but at the end he's explicitly said that he will own the car and do with it how he please after that?

Some figures would help explain the situation easier I think.

As an example, assuming the car was £600 a month (£14,400 over two years), he's paid that for 2 years with your contribution (so he's paid £450 a month equalling £10,800), and says you need to keep paying him for another 2 years until you're at the same, so you've been paying him £150 a month for 2 years (£3,600), and wants you to keep paying that for another 2 years (£3,600), 4 years in total, to get you to half what he's paid for the car already (£7,200)?

So for in order for him to be saying, you need to be paying for another 2 years, you had to have been paying around a quarter of what he was paying? So if your payments were separate and in addition to all the running costs you're paying, then if he sold the car now, you should expect 25% of the value left over in any normal situation, but this doesn't sound very normal.

@steff13

And he's only actually expecting half of the value - so he's paying half towards a car he hardly uses.

But he isn't though, is he? He's wanting OP to make payments to reimburse him the entire amount he's paid out, if I understand correctly.

Say the car was $5000. In two years, they've each paid $2500, and it's now paid off. But he wants her to continue to pay him until she's paid the whole $5000. Which is fine, except that he has no intention of signing the car over to her once he's been reimbursed.

we have NO idea if he is paying half or 99%

we have NO idea if he is paying half or 99%

Can you clarify amounts, @Justme49?

If he’s saying you should pay him 100% but he is going to be 100% owner, why on earth did you agree?

@Howshouldibehave

we have NO idea if he is paying half or 99%

Can you clarify amounts, @Justme49?

If he’s saying you should pay him 100% but he is going to be 100% owner, why on earth did you agree?

I've asked more than once, I dont think @Justme49 is going to answer

So in that case, I think that partner is justified

OP, please come back and give some figures. SUPER- confused

Am I reading a different thread to almost everyone else? From the very first post from the OP all I saw was a big red flag for financial abuse and a controlling relationship.

Nothing about the OP's DP's attitude to this is right or fair. And I've been in the OP's position (in fact, worse, as I couldn't pay anything towards the car at the time - but DH still said it was 'mine' and it was registered and used as such, and I didn't have to 'keep up payments' until I'd 'paid off' any kind of domestic 'loan'.

I just so bemused to see so many pp on the side of the DP, and only a very small few who are thinking like I am.

If anyone's DP can tie up their partner in these kind of financial knots, and yet make it all look 'perfectly reasonable' over something as minor as a car, then what would they be like with the bigger life issues/expenses? Especially if the OP wanted to leave...

But maybe it's me that's wrong?

@ItWasAgathaAllAlong

Am I reading a different thread to almost everyone else? From the very first post from the OP all I saw was a big red flag for financial abuse and a controlling relationship.

Nothing about the OP's DP's attitude to this is right or fair. And I've been in the OP's position (in fact, worse, as I couldn't pay anything towards the car at the time - but DH still said it was 'mine' and it was registered and used as such, and I didn't have to 'keep up payments' until I'd 'paid off' any kind of domestic 'loan'.

I just so bemused to see so many pp on the side of the DP, and only a very small few who are thinking like I am.

If anyone's DP can tie up their partner in these kind of financial knots, and yet make it all look 'perfectly reasonable' over something as minor as a car, then what would they be like with the bigger life issues/expenses? Especially if the OP wanted to leave...

But maybe it's me that's wrong?

Not sure where you are seeing the red flags? Without more detail we cannot say

I posted earlier

As op has not provided any figures at all, it is impossible to discuss how much if any she should be entitled to

eg car cost 50,000 and op pays 37p a month, no she's not entitled to anything at all.

or

Car cost £20, op pays £10 a month, then she is being ripped off
(extreme examples, but until we know otherwise, it could be anything)

You are being a bit naive here OP. Stop paying him money for his car, it will be er be yours. Think about getting a loan for deposit and lease a car of your own. He sounds grabby and controlling, don't let him get away with it. As soon as car is paid for you should not be paying anything. Don't let him convince you otherwise.

Nothing about the OP's DP's attitude to this is right or fair. And I've been in the OP's position (in fact, worse, as I couldn't pay anything towards the car at the time - but DH still said it was 'mine' and it was registered and used as such, and I didn't have to 'keep up payments' until I'd 'paid off' any kind of domestic 'loan'.

I agree with you that it sounds alien to me personally as, if somebody in our family needs something, our family money pays for it and nobody owes anybody else anything; we're married, so I don't know if that makes a difference.

However, a lot of couples - even married ones - do keep their finances separate and it's not controlling or a red flag to do so, if that's how they work things.

You are being a bit naive here OP. Stop paying him money for his car, it will be er be yours. Think about getting a loan for deposit and lease a car of your own. He sounds grabby and controlling, don't let him get away with it. As soon as car is paid for you should not be paying anything. Don't let him convince you otherwise.

What is he really gaining here, though, as opposed to if he hadn't effectively lent her the money to buy the car in the first place? He could have been saving his money (maybe getting a bit of interest) instead of paying it to the car finance company. Instead, he's committed to making the monthly payments for however long - liable for the whole payment, even if OP chose/had to stop paying her contribution for whatever reason.

At the end of it, he's left with a car that will have suffered a lot of depreciation, several years older, lots more miles on the clock, an additional owner in its history. If his primary reason in enabling OP to buy herself a car were to cash in big-time himself in the longer term, I wouldn't think him particularly smart at all.

I would say to him that you are stopping making payments as of next month. That he can do what he wants with the car and you are going to buy your own.
You will need to be in the position of not using it however once your payments finish and make other arrangements.

You say you are the main user - does he drive? Does he own another vehicle or does he use this one when he needs it you just drive it more? If he uses it whe he wants then he should be contributing to tax mot and insurance as these are largely fixed costs.