Sell or Give: What To Do

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purpleonlineadmin

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I haven't been here in ages, but def needed the never ending wisdom of the MyBB forumites :D

So I'm about to order (hope nothing messes up the deal now, including the dreaded price increases every few months now) a Mercedes-Benz A200 with AMG kit, pano sunroof, bi-xenon headlights, park assist, 7G gearbox, and some other nice features. I've wanted this car since it was first shown as a concept so no turning back (yes I did look at the 2 series and A3 Sportback), and after the test drive I'm convinced this is the best decision I've made in a while.

Now the current car I drive is a 2007 BMW 116i E87 (which you guys helped a lot when I was searching), I did get a quote to trade it and it was crap so decided to settle and sell it privately. I went through the thread on Private sellers and def got some tips which I highly appreciate.

Now my younger bro made me a great proposition, he was currently looking to get a VW Polo (pre-facelift) but since I'm about to let go of my car, he wants to take over the payments. Being my bro and all, I wouldn't want him to refinance the purchase price, and the instalments I currently pay are fantastic for anyone looking to own a great car with low monthly costs. My biggest worry for him was servicing the car (on ave I spend around R3k on services) and the warranty (which runs out November) could get him stuck with huge bills.

Would having him extend the warranty (with lower coverage) be wise, the car so far had one issue which the same warranty cover paid up without a fuss and I paid a small diff. FSH, new shocks and other parts as well. He could drive it for the next 2-3 years with no major worries.

If in the same shoes what would you do? (naturally the car will still be in my name which could affect the Merc financing)
 
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I know you really want to help him out, but if you can't afford to give him the car outright, don't do it.
Money and family tends not to mix well.
 
you should watch more Judge Judy, but in case anythig is still unclear...money and family need to stay far apart.
 
He was going to buy the Polo anyway, so let him buy the BMW from you for a decent price.

Then the car is in his name and his responsibility.
 
Kix said:
He was going to buy the Polo anyway, so let him buy the BMW from you for a decent price.

Then the car is in his name and his responsibility.
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^^^This. :)
By the way -

Preposition
[prep-uh-zish-uh n]
Spell Syllables
Examples Word Origin
noun, Grammar
1.
any member of a class of words found in many languages that are used before nouns, pronouns, or other substantives to form phrases functioning as modifiers of verbs, nouns, or adjectives, and that typically express a spatial, temporal, or other relationship, as in, on, by, to, since.

Proposition
[prop-uh-zish-uh n]
Spell Syllables
Synonyms Examples Word Origin
noun
1.
the act of offering or suggesting something to be considered, accepted, adopted, or done.
2.
a plan or scheme proposed.
3.
an offer of terms for a transaction, as in business.
4.
a thing, matter, or person considered as something to be dealt with or encountered:
Keeping diplomatic channels open is a serious proposition.
5.
anything stated or affirmed for discussion or illustration.
6.
Rhetoric. a statement of the subject of an argument or a discourse, or of the course of action or essential idea to be advocated.
#justsaying.... :p
 
Fazda said:
^^^This. :)
By the way -

Preposition
[prep-uh-zish-uh n]
Spell Syllables
Examples Word Origin
noun, Grammar
1.
any member of a class of words found in many languages that are used before nouns, pronouns, or other substantives to form phrases functioning as modifiers of verbs, nouns, or adjectives, and that typically express a spatial, temporal, or other relationship, as in, on, by, to, since.

Proposition
[prop-uh-zish-uh n]
Spell Syllables
Synonyms Examples Word Origin
noun
1.
the act of offering or suggesting something to be considered, accepted, adopted, or done.
2.
a plan or scheme proposed.
3.
an offer of terms for a transaction, as in business.
4.
a thing, matter, or person considered as something to be dealt with or encountered:
Keeping diplomatic channels open is a serious proposition.
5.
anything stated or affirmed for discussion or illustration.
6.
Rhetoric. a statement of the subject of an argument or a discourse, or of the course of action or essential idea to be advocated.
#justsaying.... :p
Click to expand...

Why thank you
 
When I left SA I also left my car behind. A 2006 Corsa 1.8 GSi. 100,000km on the clock, fully paid off what what.

Anyway, I signed over the yellow slips in case I wanted my parents to sell it in a few months time, its still sitting on my insurance but I put my bro's name on it as primary driver and let him use the car since he was looking for a new car and was about to buy a golf (Im guessing they go for R200k or something these days).

Anyway, dealerships etc wont offer me more than R40k for the car and my bro has been getting it serviced and replacing things like the altenator and wipers and tyres and brakes while using it, so last week I told him to just go and fetch the papers and put the car into his name since registration has to be renewed soon anyway...and then he can put it on his own insurance. He even offered to pay me for it but he's a good oke and deserves a bit of a break.

He's not well off and a R200k car with R200k car insurance would've put extra strain on him. So yeah, if your bro is appreciative I say help him out, if you can afford to do so of course.
 
ahmedomar said:
Are you going the agility finance route or traditional?
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Agility Ahmedomar. I'm getting a car allowance, so will be making the majority of the km's for business, but nothing over 20k kms as stipulated by their T&C's. I've already spoken to the dealer and got the quote, so if you have any questions I'll try my best to answer as advised.
 
Voicy said:
When I left SA I also left my car behind. A 2006 Corsa 1.8 GSi. 100,000km on the clock, fully paid off what what.

Anyway, I signed over the yellow slips in case I wanted my parents to sell it in a few months time, its still sitting on my insurance but I put my bro's name on it as primary driver and let him use the car since he was looking for a new car and was about to buy a golf (Im guessing they go for R200k or something these days).

Anyway, dealerships etc wont offer me more than R40k for the car and my bro has been getting it serviced and replacing things like the altenator and wipers and tyres and brakes while using it, so last week I told him to just go and fetch the papers and put the car into his name since registration has to be renewed soon anyway...and then he can put it on his own insurance. He even offered to pay me for it but he's a good oke and deserves a bit of a break.

He's not well off and a R200k car with R200k car insurance would've put extra strain on him. So yeah, if your bro is appreciative I say help him out, if you can afford to do so of course.
Click to expand...

Thanks Voicy, I think I will treat it as a business transaction, he is trustworthy and has never reneged on his debts, life happens tho and I would help him out if he struggled, but I wouldn't want it affecting my own credit. I'll speak to him as well as if he financed it he wouldn't be paying much more than I do now, only issue I had with that is that would add a few more years of payments (and interest) on the same car.

I would have loved to save him a few Rands and have him invest that in something else. Appreciate it though, your advice coming from experience.
 
Hi purple Thanks for all the responses so far. .. May i ask hw much r u paying for this car? And does your GFV decrease should your car end up with an accident history at the end assuming u repair it at an approved place
 
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