| KrisKT |
I will be buying a new RRP MDX Touring with Navi that will be shipped in mid-Oct. I wanted the added side curtain air bags, rear view camera, multiple enhancements, etc.
My mother wants to buy my 2001 MDX Touring with Navi, tow package, side steps which has 10,275 miles and is in great condition. I want to give her a good deal-maybe a little less than what I would have gotten for a trade-in at the dealer. I looked on edmunds.com and kbb.com and it seems the value would be between 28,500 and 29,500. If I sold it otherwise I would probably get 31,000 to 32,000.
My mom is doing well financially, but I still want to give her a nice deal. She off hand stated a price of 25,000, which is obviously lower than what I was expecting. I would appreciate opinions on what is considered a good "brother-in-law" deal to all of you. Thanks! |
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| Captain MDX |
quote:
Originally posted by KrisKT
has 10,275 miles
That's all you got in three years??? |
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| KrisKT |
| The MDX is silver BTW. All of our long-distance trips are in our 2002 Honda Odyssey minivan which has 27,000 miles. The 2001 MDX has really been babied. Never in the shop except for oil changes. What do you think is a great deal for my Mom? |
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| TheWorm |
IMO, KBB/EdmundsTMV trade-in is a fair deal since she's doing well financially, as you put it. Why does mom wanna soak you for 4 grand? How bad a kid were you? ;)
My mom has bought two 3 yr old low-mileage "hand me downs" from us, so I've been in a similar situation. The first was KBB trade in value and the second was the lease buyout price. |
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| Captain MDX |
| If it's only 3 miles, why don't you just walk or take a bus (IMO) :rolleyes: |
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| laborlitigator |
| At least it will earn you some brownie points with wifey. . . |
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| texrb |
quote:
Originally posted by TheWorm
IMO, KBB/EdmundsTMV trade-in is a fair deal since she's doing well financially, as you put it. .........
Letting mom buy it for the kbb trade in price is fair & mom gets a good deal. You can also explain to mom that you are also losing the tax savings from the same price on trade. If mom insists on $25k - smile and say "no thanks" :1: |
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| Pauls MDX |
Give to MOM for the 25 grand and feel good that you did the right thing for a great mother. You can't push your own Mama for the extra 4K, come on your feel guilty for the rest of your life. Do you want to live with that misery??
:8: |
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| Warzau |
quote:
Originally posted by Captain MDX
If it's only 3 miles, why don't you just walk or take a bus (IMO) :rolleyes:
If you are not going to add to the discussion DONT reply! |
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| Captain MDX |
quote:
Originally posted by Warzau
If you are not going to add to the discussion DONT reply!
Ok boss, I mean moderator :o |
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| Markedoc |
I've always thought edmunds was more accurate than KBB, but check both. Also, just to be fair - call your dealer - they might come up with a different number than either edmunds or KBB.
Keep in mind, too, if you trade it in most states, you only pay slaes tax on the diff between trade in and new car price. |
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| laborlitigator |
Tax savings on the trade in will be substantial. Even selling it to her for $25K would be equivalent to saving nearly $2K off of the new X. (Assuming 7.5% tax, as is here)
So it's $4K off of book and the $2K off of trade. I sure hope I have a son-in-law like that one day. |
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| Rodzir |
If it was MOM do as Nike says Just do it. Mother in Law on the other hand. Whats the old Rule!!
DON'T SELL CARS TO FAMILY OF FRIENDS UNLESS YOU WANT NEW ENEMIES!!!!
The first time somthing goes wrong its going to be your fault for selling the problem. |
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| Maik |
quote:
Originally posted by Warzau
If you are not going to add to the discussion DONT reply!
If you are responding in your "moderator's" role here....I suspect that you will be a very busy beaver. Seems as though you have included judging the quality of posts to these threads to your moderator role. I suspect that if all members followed this "edict" of yours, the post count rate would decrease quite rapidly. But, so to would the member count as many of us enjoy these little humorous diversions.
If it IS your intention to judge the quality of posts, better make sure you are consistant and not just chastise some posters.
You may want to rethink this. |
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| dbehrens |
quote:
Originally posted by laborlitigator
Tax savings on the trade in will be substantial. Even selling it to her for $25K would be equivalent to saving nearly $2K off of the new X. (Assuming 7.5% tax, as is here)
So it's $4K off of book and the $2K off of trade. I sure hope I have a son-in-law like that one day.
California is one of the few states that does not allow this on a trade in. :3: So your location may effect your decision.
Because you seem to know the value well, tell mom you will split the difference between her offer and what you could get selling on your own. Halfway between 25 and 31 is 28. This way you can feel good and not get soaked. Otherwise, consider taking her offer and consider the loss an investment in goodwill.
Good luck |
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| TheWorm |
quote:
Originally posted by dbehrens
California is one of the few states that does not allow this on a trade in. :3:
True, but a transfer within family does not incur sales tax, so Mom get's the car and saves 8%+ right off the bat by not buying it from another private party or dealer. |
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| robrecht |
How can you haggle with your mother? She's your mother. You can never even begin to repay her for all she's done for you.
BTW, I once quoted to my Dad a medieval philosopher who said that children can never repay their parents for the debt of life given to them. My Dad thought about that for a minute and replied, "That doesn't mean you don't have to try!" I still laugh every time I think of that. Now that he's gone, I wish I had tried more.
Good luck! |
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| Warzau |
quote:
Originally posted by Maik
If you are responding in your "moderator's" role here....I suspect that you will be a very busy beaver. Seems as though you have included judging the quality of posts to these threads to your moderator role. I suspect that if all members followed this "edict" of yours, the post count rate would decrease quite rapidly. But, so to would the member count as many of us enjoy these little humorous diversions.
If it IS your intention to judge the quality of posts, better make sure you are consistant and not just chastise some posters.
You may want to rethink this.
Im not going to let this post go off topic but I felt it was necessary to say that, it might be humorous to some the first time he said it but second time it was a little to much telling him to walk how helpful is that and with out the usuall smileys at the end, it looked condesending. If you want to discussed this further IM me. Lets leave KrisKT thread on topic. |
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| dbehrens |
quote:
Originally posted by TheWorm
True, but a transfer within family does not incur sales tax, so Mom get's the car and saves 8%+ right off the bat by not buying it from another private party or dealer.
I did not know that. I guess it would help if we knew what state "KRISKT" is located. |
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| laborlitigator |
quote:
Originally posted by robrecht
How can you haggle with your mother? She's your mother. You can never even begin to repay her for all she's done for you.
BTW, I once quoted to my Dad a medieval philosopher who said that children can never repay their parents for the debt of life given to them. My Dad thought about that for a minute and replied, "That doesn't mean you don't have to try!" I still laugh every time I think of that. Now that he's gone, I wish I had tried more.
Good luck!
Your Dad is a wise man. . . and funny 2! |
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| Warzau |
quote:
Originally posted by robrecht
How can you haggle with your mother? She's your mother. You can never even begin to repay her for all she's done for you.
BTW, I once quoted to my Dad a medieval philosopher who said that children can never repay their parents for the debt of life given to them. My Dad thought about that for a minute and replied, "That doesn't mean you don't have to try!" I still laugh every time I think of that. Now that he's gone, I wish I had tried more.
Good luck!
Shoot no wonder my parents call me up all the time with their computer problems. But I sold my car once to my parent for 100 bucks it was my 85 200 SX. It was a very simple process Signed the title over and they handed me a check. I found out later they neglected to properly maintain it and now it sits in their garage. I still regret it, since I took such great care with it. Thats another thing you might consider. At least with a stranger you dont see the car anymore. |
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| RonH |
quote:
Originally posted by KrisKT
The MDX is silver BTW. All of our long-distance trips are in our 2002 Honda Odyssey minivan which has 27,000 miles. The 2001 MDX has really been babied. Never in the shop except for oil changes. What do you think is a great deal for my Mom?
Same here .. use the Ody for the trips. Just traded in a 95 Explorer with 44,100 on the clock. |
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| AcuraDoc |
| Why don't you do the deal through the dealer so you can get the tax benefit. Have the dealer take the car in for the trade and then have them sell it directly to you mother for your agreed price with her. They may charge you a handling fee for a few hundred bucks, but this way everyone will get what they want. |
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| m2pc |
If you need the extra cash for the 2003, then trade it in or sell it to an outside party. You can gently tell her that you are going to sell it for 29k plus to an outside party and if she really wants to, she will either say "oh, i'll buy it for that amount" or she will say "thats great! Mama needs a new pair of shoes!"She will understand if you tell her you sold it for 29k. Otherwise, make mama happy and sell it to her for 25k, you know I betcha you was a difficult child when you were younger :22: , thats why she's soaking you for the 4k:jester:
Good luck! |
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| MG Pilot |
| Don't be a punk, dude...sell it to moms for the 25 large...be smart- |
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