I Co-Signed on a Car With My Mom

The Ramsey Show Highlights

Ramsey Network

Self-improvement, Education, Investing, Business

4.6 • 682 Ratings

🗓️ 9 December 2023

⏱️ 9 minutes

🔗️ Recording | iTunes | RSS

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Summary

Today's episode features George Kamel & Jade Warshaw. The Ramsey Show Highlights is a quick, daily dose of advice on life and money in under ten minutes. Hear from experts like Dave Ramsey, Ken Coleman, Rachel Cruze, Dr. John Delony, George Kamel & Jade Warshaw. Part of the Ramsey Network. Delivered to you seven days a week. 💸 Budget for free with EveryDollar: Click Here Learn more about your ad choices. https://www.megaphone.fm/adchoices Ramsey Solutions Privacy Policy Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Brought to you by the Every Dollar app. Start budgeting for free today.
0:06.4	Diana joins us in Los Angeles, Diana. Welcome to The Ramsey Show.
0:11.2	Hello, hi.
0:12.9	Hey, what's going on?
0:13.9	I have a question. So I have co-signed a car with my mom. She's 803 years old, and if she passes, is the car going to be mine?
0:26.0	Well, is the title in your name?
0:28.8	Yes.
0:29.7	Mine and hers.
0:31.1	As well as the loan.
0:33.5	Yes.
0:34.2	Okay.
0:35.1	Unless there's something else dictated in her will and wishes, it's your car.
0:43.3	Okay. I mean, isn't it at your car now?
0:48.2	It is in both of our names, yes. I don't think she has a will, but I am the power of attorney for my mother.
0:57.6	Okay. Is she still driving?
1:01.2	No, she can't drive anymore.
1:03.9	So we're paying monthly payments on a car that's just sitting there?
1:08.6	I'm driving it. I'm using it. I take her to and from, you know, whatever she needs. So you
1:13.8	don't have a personal car? This is the only car I have. Okay. What does it take to get her name off of it?
1:23.0	Just to make it clean? I don't know how to go about that, and if I can, I don't know.
1:30.4	Well, you would have to be able to afford the loan on your own.
1:32.9	Would you be able to afford it?
	...

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