When I got my new car, the dealership was not going to give me much of anything as a trade in, so I posted it in the classifieds and on line. Since it had high mileage and needed some work, I was not asking for a lot of money. I figured if it did not sell, I'd give it to Goodwill or some other charity for a tax write off.
My neighbors daughter jumped at the chance to "buy" the car from me. The kid is 19, never thought she would want my frumpy 1999 station wagon, but she does. We wrote up a payment contract (three equal installments, she is still in college for another month) and the car now happily sits in their driveway instead of in front of my house.
I did warn her that the car is 1) old 2) needs work, I disclosed all the things my mechanic told me at my last two visits and gave them copies of the repair bill 3) should not be taken on huge road trips and 4) that being said, it was being sold as is. She just wants a vehicle that can take her to and from work and to and from her boyfriends house. She's happy, I'm happy and her parents are happy.
Funny how things work out...
6 comments:
Congrats! Now you'll be paid for it, and you'll still get to see it every day:)
That's awesome, win win for you guys.
It sounds like you have things under control with written agreements and all... but be careful, because she is close to you and you don't start having trouble with your neighbors when things go wrong with the car. ("But I disclosed all that...") I've found people get irrational when things go wrong.
Spilling Buckets: I agree about the disclosure thing, especially since the neighbors and I are good friends. I gave them the copies of my last three repair visits(new transmission visit, yearly tune up and the last oil change) and told them that I would strongly recommend taking the car to a mechanic of their choice just as a peace of mind thing. Until then, the first payment is sitting in an envelope in my desk (the kid gave me cash). I also told them if the mechanic thinks the car is unsound, that the best option would be to donate it to Goodwill for parts and I'd give them back their money. I also gave them a time frame in which to get the car looked at. So lets hope it all works out....
Oh, that is a cool story! Sometimes, it isn't really about how old the car is. As long as it's still functional, it's all good to have. I just hope that she won't wreck your car. LOL!
Oh, that is a cool story! Sometimes, it isn't really about how old the car is. As long as it's still functional, it's all good to have. I just hope that she won't wreck your car. LOL!
It seems your neighbor's daughter is very interested in your car. It's good that everyone was satisfied with the outcome. Hehe. Having a car makes a lot of things more convenient, that's why these are considered as assets.
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