Sunday, August 24, 2014

Hypothetical Question

So let's say you decide to buy your 15 year old kid a brand new car.  And the car's just sort of sitting there waiting for the kid to turn 16.  And a relative says hey you're not using the car and I need a car, can I borrow the car until your kid turns 16.  Is this fair?  I mean, the fact that the car is brand new, and you paid extra to have a brand new car for your kid, and now someone's going to use the car and it won't be new anymore when you give it to your kid or does that not matter, should the important thing be that your relative needs a car, you have a car that you're not currently using, and you should help that relative out?  Certainly if the car was used you wouldn't care but the fact that it's new, you paid extra to have new car, and you bought it new on purpose to have something new to give your kid. 

What do you guys think?  Is it crazy?  How would you feel?


  1. We did buy a new car for one of our kids last year. It was setting in driveway waiting for her to get her paperwork finished (parking permit for school, license, etc). She would have been VERY UNHAPPY if someone else had been driving it. If it had gotten dings, dirty interior, etc even more so. If it had been car for my husband or I and one of our kids, niece/nephew, siblings needed to borrow, different story, depending on person, might have lent gladly. But not HER car.

  2. My parents bought me a car before I had a license. It wasn't new but it was in perfect shape, and it did sit in the driveway for a few months until I learned to drive well enough to take the test. I would have been VERY UPSET if it had been loaned out to someone else. Family or not, if someone else was driving my car around, I would have been very unhappy. I think it would be even worse if it was brand spanking new because after someone drives it around, it is no longer new!

  3. The only way this works is if the teenager in question is compensated financially and agrees to it - so say the relative gets to use the new car for a few months and then gets the car valeted and gives it back with say £2000 cash - no idea how much cars depreciate in the US ? It must be possible to get a valuation of the car now, and after its been used and is no longer new, and that is the amount of cash the relative should hand over to the teen (or parent!)