What would you do? MIL issue

Did your MIL ask for your help? I'm not implying that you should help her if she asks, but if she did not ask why are we even discussing this?
 
Have you and your spouse had discussions in the past and determined any policies about bailing out family members? If not, this could get sticky going forward.

Both mothers of DW and myself have acted somewhat irresponsibly with money in the past. They had enough to go from paycheck to paycheck in the style to which they have become accustomed, but there is no long range thought/planning going on.

I have spoken to DW numerous times about this before ERing and I believe that we are in agreement on a no-bailout policy for parents. We didn't want to work an additional undeterred amount of years to support DM's spending habits.

I am a firm believer in not trying to manage the lives of others, but at the same time let the other's learn from their mistakes and accept the consequences.

As such, in a worse case scenario, I suspect that one or both DM's may need to go on Medicaid LTC to support themselves in the future and I am quite ok with that.

In this country under current law collectively, we typically don't put seniors out on the street for financial reasons unless they have mental illness and won't comply with the rules of the system.

As such absolutely no need for a bailout in our case.

-gauss
 
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"She's wanting to move out" - Maybe this plan better go on hold until "want" becomes "can". This should be number 5's problem, not yours. Whatever agreement they are making upon her departure should include the car.
 
...Let her stop the payments and then have the car repossessed...

This.

... We thought of buying it from her for $20k+our $2k beater (she would have to pay the additional $11k to make her "feel the pain"...

Then, give her outright your beater if it helps the harmony with your wife.
 
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