Is this fair? Buying car from mum

(7 Posts)
GreyKittyMakesWarms Sat 01-Oct-16 18:28:03

My mum is selling her car. And I'd like to buy it. I'll happily admit I don't know much about cars.

Currently I don't have a car, and have been paying my mum for me to be on the insurance of her car (£300 per year), I pay half for the MOT and also put in fuel when I've used the car; so if I've used 1/4 of a tank I replace it usually with more than I used so I'd put half a tank in. So basically I have half a car currently.

It's perfect for my needs. Automatic which is all I can drive due to dyspraxia, has 5 doors. DD has a car seat already installed in the back so no faffing about moving it between cars.

A similar car of the same age and milage sells on Autotrader/Ebay for £2.5k, I've offered my mum £2k, but neither of us know if this is fair?

Mums getting a new car from her workplace and she has to put as much as a deposit down on it as she can, so the £2k plus a bit she's got left over from her divorce would get her a new car.

Please help, is this a fair price?

Sirzy Sat 01-Oct-16 18:29:57

If you are both happy then it's a fair price!

AyeAmarok Sat 01-Oct-16 18:32:03

What is the make, model, age, and mileage of the car?

BikeRunSki Sat 01-Oct-16 18:32:55

A similar car of the same age and milage sells on Autotrader/Ebay for £2.5k

Then surely £2.5K is a fair price.

What does Glass's Guide say?
Does your mum want to give you "mates rates"?

Glass's

IhatchedaSnorlax Sat 01-Oct-16 18:44:15

I think it sounds fair & if you're both happy, then go for it.

GreyKittyMakesWarms Sat 01-Oct-16 18:45:01

Mum will give me mates rates yes

Looking again looks like I'm being undercharged a lot.

It's a Hyundai i30, 2011, 40,000 miles on the clock approximately. Looks like she'd get closer to £4.5k on Ebay/Autotrader.

Glass's Guide says privately between £4.5 and £5.1k. I don't want to rip my mum off, I have about £4k to spend on a car, so I could up the offer.

AmyBecker Tue 04-Oct-16 12:02:10

Should just ask her the amount she really needs for the deposit so she's not worse off and comfortable afterwards.

Sounds like she needs the money so just give what you can, from what you've said 4K is a reasonable amount yes

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