What would you guys do ?

[2K2BIRD]

If he's a good grandson I honestly think you should charge him less, 15k sounds a bit high for a car with 64k miles. If you can afford it, give him the car for free with the understanding that he looks out for you in the future, he will clearly remember you for the act of kindness and will tell his grandkids his Thunderbird story!

With more than one grandkid, handing out $14,000 cars could get a little expensive. With the 12 we have, it would be real expensive.

[007Cruiser]

With more than one grandkid, handing out $14,000 cars could get a little expensive. With the 12 we have, it would be real expensive.

Good point, Paul. Ron has that covered.

[Brad]

With more than one grandkid, handing out $14,000 cars could get a little expensive. With the 12 we have, it would be real expensive.

Did any of the other grandkids offer to purchase the Thunderbird?

[merlot4]

With more than one grandkid, handing out $14,000 cars could get a little expensive. With the 12 we have, it would be real expensive.

Why, you could have a junior capitalist's club with real life explanation of owning shares and time sharing, Paul, and get into the concept of bakers dozen, so that the car would have to remain with you!

[Rondor]

We could easily give it to him and ultimately will. But Right now he needs to think he's buying it and hopefully will appreciate it a little more. HE's driving it for a few days to see if the he really wants it. Each day his interest has grown

[BirdsAndBugs]

Ron, if you can afford it, I would just consider gifting the car to your grandson. I think it would make owning his grandpa's car all that more meaningful. Especially, if you don't really have the interest in it anymore; let him enjoy it.

If you need to sell it, consider maybe a below market price. Maybe in the $10,000 - 12,000 range. That would likely help both him and his mother out if they're financing it.

Good luck. Hope it all works out ok.

[BillyL]

I dealt with a similar issue last year. I wanted to give my T-bird to my granddaughter for her first car. She was hesitant and her parents wanted her to drive something "newer and more economically practical. My resolution was to keep the car in my name and in my care, but she kept her key. They only live two blocks away and she does enjoy the top down occasional weekend rides. I also offered financial help to get her a new Honda for graduation. A good compromise for me, but these situations are all unique to the individual.

[JudgeLucid]

1. Gift the car to your grandson (family member) and take the deduction as the offset to what you might have earned on the transaction.
2. Prepare for the liability: He is going to be SOOOooo popular, and it will be mostly your fault, and
3. You will be giving your grandson something that he could never actually buy - his granddad's prized Thunderbird. Priceless.

Best wishes.

Judge Lucid

[Rondor]

Did any of the other grandkids offer to purchase the Thunderbird?

No and have no interest in the car.

[Rondor]

We're discussing various options now and will be assisting in some way for sure. Insurance for under 25 ain't cheap.

[007Cruiser]

Remember if the car is a gift he has no sales tax.

[wcoates]

We're discussing various options now and will be assisting in some way for sure. Insurance for under 25 ain't cheap.

Ron, I respect virtually every post you have ever made and God knows I don't want to honk you off.. God also knows there is virtually nothing I wouldn't do for my grandchildren but I'm going to play devil's advocate here for a second ..................

Why give him a car when he already has one. Sell the monster truck and use the proceeds if he wants the Bird so badly.

He's 18 and someone else is going to pay his car insurance for him? C'mon! Just keep contributing to his educational fund or something similar.

Must be someone else that agrees?????!!!!!

[BirdsAndBugs]

Ron, I respect virtually every post you have ever made and God knows I don't want to honk you off.. God also knows there is virtually nothing I wouldn't do for my grandchildren but I'm going to play devil's advocate here for a second ..................

Why give him a car when he already has one. Sell the monster truck and use the proceeds if he wants the Bird so badly.

He's 18 and someone else is going to pay his car insurance for him? C'mon! Just keep contributing to his educational fund or something similar.

Must be someone else that agrees?????!!!!!

The truck should be sold. At 18, he doesn't need 2 vehicles. Especially if someone else is paying for his insurance.

[Rondor]

[QUOTE=wcoates;n1042079]

Ron, I respect virtually every post you have ever made and God knows I don't want to honk you off.. God also knows there is virtually nothing I wouldn't do for my grandchildren but I'm going to play devil's advocate here for a second ..................

No offense taken Bill and it's difficult to put the accirate picture into writing and stay brief/

[jerrym3]

I don't think I'd sell the car to anyone in my family. Even though they are aware of what I went through replacing the HVAC control module, the first expensive repair would still make me feel a bit guilty. I'd consider giving it to one of my daughters, but they aren't interested. (Heck, whatever I sell the car for, they'd be splitting it anyway.)

If he wants it that badly, maybe the $14,000 price and $1,000 for future repairs is a good idea. (I might adjust the price a bit, say 13/2K.)

Anyway, with no g/kids in my future, I won't have to cross that bridge.