1. Refinancing the loan: If your spouse qualifies for a loan on their own, they can refinance the truck and remove you from the loan. This may require them to get a co-signer if their credit is not good enough to qualify on their own.
2. Selling the truck: If refinancing is not an option, you may have to sell the truck to pay off the loan. If the truck is worth more than the amount still owed on the loan, any remaining proceeds can be split between you and your spouse. If the truck is worth less than the amount owed on the loan, you will both be responsible for paying off the remaining balance.
3. Voluntary repossession: If neither of these options is feasible, you may want to consider voluntary repossession. This means surrendering the truck to the lender and letting them sell it. You will still be responsible for any deficiency balance (the amount still owed on the loan after the truck is sold) but you will be released from the loan itself.
