My family sucks with money. As in my parents/siblings...Me, I grew up in that household and somehow came out on the opposite side of the spectrum. I control my money.
My youngest sister is graduating college next year. Because family sucks with money she does not have a car. It would make everyone's life easier if my sister had one for next year. I have a car in good condition with only $2500 remaining on the loan. Months ago I suggested to my parents that little sister work this summer and save enough to pay off my car and I'd give it to her. I could sell it privately for about 6-7k but figured this would help all involved and I'll be fine without the extra boost in income.
Now I'm getting harassed to just give her the car and let her make the remaining monthly payments, while its still in my name. If she couldn't make a payment my parents don't have it to back her. And quite frankly she'd go on their insurance and they can't really afford higher insurance during the summer when my Mom doesn't work.
I can't. My credit got trashed due to other family issues. Its finally good again. I won't risk it again.
And now I'm the fucking bad guy for not agreeing to this.
I should have known better then to ever make the damn suggestion to them.
Don't let it get you down--let them be mad. You need to draw the line somewhere and it sounds like a good idea to stand your ground if they have already screwed you once.
Post by countthestars on May 14, 2012 11:14:54 GMT -5
You are already being generous enough. It sucks that your family is so bad with money. Maybe offer to help your sister find another car in her price range (whatever she has cash now) so she can see that the deal you are giving her is amazing.
Post by LauraMoser on May 14, 2012 11:18:24 GMT -5
I will echo the other posters. Don't back down! My dad stupidly signed for a car for little sister. She couldn't keep up with the payments and stuck dad with the car. He now is letting bro and SIL use it while making the payments. I think he's stupid in doing so, as they have not been on time with the payments since about the first one, and they have a terrible record with money, including repeated evictions and repos. What the heel my dad was thinking in the first place us beyond me!
You know, you are STILL helping her even if you don't give her the car and let her make the payments. Because you are teaching her that people actually have the have cash in hand to get really good deals like $6K cars for $2,500. And that you SHOULDN'T lend anyone your credit. EVER.
You're not doing her (or anyone else who is paying attention) any favors by pretending their plan is a good one.
And I would be really disappointed that I finally got to own a car without a monthly car loan. Everyone also seems to be ignoring how much you are giving up on THAT, too.
All things considered, its better for you that she passed.
Post by definitelyO on May 14, 2012 14:06:34 GMT -5
that sucks that you have to ignore them and they are taking advantage of your generosity.
let them know next time they ask that you original offer still stands, but if that doesn't work for them you understand and you'll just give her a card at graduation. end of story.
My family sucks with money. As in my parents/siblings...Me, I grew up in that household and somehow came out on the opposite side of the spectrum. I control my money.
My youngest sister is graduating college next year. Because family sucks with money she does not have a car. It would make everyone's life easier if my sister had one for next year. I have a car in good condition with only $2500 remaining on the loan. Months ago I suggested to my parents that little sister work this summer and save enough to pay off my car and I'd give it to her. I could sell it privately for about 6-7k but figured this would help all involved and I'll be fine without the extra boost in income.
Now I'm getting harassed to just give her the car and let her make the remaining monthly payments, while its still in my name. If she couldn't make a payment my parents don't have it to back her. And quite frankly she'd go on their insurance and they can't really afford higher insurance during the summer when my Mom doesn't work.
I can't. My credit got trashed due to other family issues. Its finally good again. I won't risk it again.
And now I'm the fucking bad guy for not agreeing to this.
I should have known better then to ever make the damn suggestion to them.
Now you know. So stand tall, say no, and let them be angry. Oh well. It's all about boundaries.
Post by MadamePresident on May 14, 2012 21:58:59 GMT -5
Your sister really needs to grow up. I can't believe she just expects you to give her a car with nothing in return from her. You are not a bad person, you are a good person who is helping to teach your sister personal responsibility and are giving her an opportunity to grow up and take care of herself.
Your family's reaction to this is probably a good indicator of how well this situation would have turned out. You would have most likely still gotten this same crap from your family when your sister invariably couldn't come up with the full $2500. So if you're going to get family crap either way, better to enjoy your paid-off car while doing so.