Trouble Looms As Teen Backs Out Of A Bad Car Loan Made By His Freshly Single Mom

Purchasing a car involves more than just picking it up and driving it home. Additionally, you must have figured out how to pay for it.

For the majority of car buyers, this entails taking out a loan from a bank or other financial organisation. Sometimes the benefits and drawbacks of financing an automobile are interchangeable.

An expensive car can be purchased over a number of years, but doing so will result in higher interest payments. The OP of today's story has been paying off a car loan from his forty-year-old mom since he turned 16.

She “gifted” the OP a new 2022 Nissan Sentra for his birthday, and the OP never asked how much she spent on it. This is because the OP had assumed that her financially knowledgeable boyfriend at the time would know what he was doing at the dealership, but he did not.

They walked away with a $40,000 car loan, and they put nothing down. They had a 10% interest rate because OP's mom’s credit was bad, and she had no job.

The OP moved out at 18 and lives with a roommate, but bills have been tighter. His girlfriend’s mom suggested that he look for a new car that’s more in budget, and he did.

The issue came when the OP told his mom to consider selling his current car, but her reaction was over the roof.

The OP kicks off his story...

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The OP went to the bank with his mom to try to transfer the loan from her name to mine

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The OP got a better car for cheaper than what he would be paying off of his current car

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OP's mom is demanding that he drains his savings to pay for a car that he never agreed to pay for

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OP has offered the following explanation for why they think they might be the AH:

I might be making my freshly divorced mom finish paying off $20,000 of debt for a car she “gifted me.”

We've gathered some of the most upvoted comments from other Redditors for you to read through below

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It's not the OP's car if it's not in his name

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This Redditor is still trying to wrap his head around the calculation

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The OP is deciding to downgrade?

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To the above comment, the OP replied saying...

I didn’t say downgrade. It’s not like I can’t afford it it’s just a matter of getting something reliable that isn’t already completely depreciated. A lot of people have been suggesting to get a beater for half the cost but this isn’t the 90’s, 5-10k isn’t gonna get you that far at least not without constant visits to a shop. I need reliability. But I appreciate you, God bless you.

And the comments continue...

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This Redditor doesn't think that is a gift

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The OP never agreed to pay for it

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The OP should give her the keys and walk away

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Cars are expensive purchases, so even if it was intended as a present, OP's mom ought to have discussed it with him to some extent. The OP could want to take over if she contributed a sizable sum of her own money, but from what we can tell, the OP is paying for the car in whole.

It's likely that OP would have chosen a less expensive car to meet his budget if his mother had told him how things were. Drop your thoughts and verdicts in the comments section.