My husband makes good money.

We are meeting all of our basic needs, but his retirement is severely underfunded.

Our home will be paid off in about four years, and I send $300 extra each month.

A man laughs as he leans against his classic convertible car in his driveway.

My husband is very set on getting an expensive new car that costs about $60,000.

I cant talk him out of it, though Ive tried!

Im worried if something happens to him before the new car is paid off.

Dear Penny

If he passes away and Im not a co-signer, will that protect me?

Im also worried about if he doesnt pass but needs a long-term facility or nursing home.

How do I protect myself for my future?

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He has several health concerns, but so do I.

But I know Im preaching to the choir.

To answer your question: The impact on you depends largely on what state you live in.

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The lender could still file a claim against the estate.

But since your name wont be on the loan, you wouldnt be sued over the debt.

Your credit score wouldnt be affected.

You may be able to do the same thing if your husband becomes disabled.

Doing so would hurt his credit, but it wouldnt affect yours.

Probably not as good as youd like.

It always seems like an uphill battle to build (and keep) a decent amount in savings.

But what if your car breaks down, or you have a sudden medical bill?

Ask one of these companies to help…

Regardless of where you live, this purchase is a terrible idea.

Your husband may think his plan to work until 70 fixes everything.

That prospect is daunting, especially given that you say his retirement plan is severely underfunded.

I know youve tried to persuade your husband not to make this purchase.

But I wonder if he may be more willing to listen to a neutral third party.

Perhaps your husband will see how much harder reaching that target would be with substantial car payments.

If that doesnt work, maybe the two of you could reach a compromise.

That 0% interest rate isnt going to last forever.

Paying off the balance before it starts accruing interest is a must in this case.

But hopefully, hell come around and see that no car is worth putting your retirements at risk.

Did you know?

Send your tricky money questions to[email protected].

When you log into your bank account, how do your savings look?

Probably not as good as youd like.

It always seems like an uphill battle to build (and keep) a decent amount in savings.

But what if your car breaks down, or you have a sudden medical bill?