Bit Of Mirror Polishing PG39
Posted
Local Hero
My Rivage Restoration
last night i was made an offer i don't think I can refuse (still thinking about it) now i had contemplated selling the rivage, this is when i received an offer from a family member. They don't want to see the car go so they have offered me market value for it but i still remain the owner and keep the car. The person in question can then borrow the car to go for a Sunday drive when the weathers nice ect.
they will also fund a new engine for it.
only thing i got to think of is, am i happy for someone to stump at that sort of cash
Posted
Local Hero
Posted
Local Hero
Last edit: by BigNormRivage
Posted
Local Hero
they see the car as an investment for myself, so they pay me what its worth out of my future inheritance so i don't sell it.
then in years to come i got a car that will fetch good money.
so its money that will come to me anyway, just i get a bit of it sooner.
and what they get out of it is a car they can enjoy when ever they want.
i also get full time use of a garage.
only dilemma i got is, do i accept this money or not?
Posted
Local Hero
Have a read here……..
http://www.hmrc.gov.uk/inheritancetax/pass-money-property/exempt-gifts.htm
Posted
Old Timer
Posted
Old Timer
Posted
Local Hero
The money will be a bank tansfer.
I can have 6k and a new engine (he wants one so its all mint)
he doesnt want me to part with it because of the work done to it and it will pretty much hold value.
So basicly i get some inheritance money early and i get to keep the car.
The plus side for him is he gets to enjoy driving it.
Posted
Moderator
If your name was on the log book it would still be your car and if he has handed cash over for it he would have to fight it through the courts. Worst case scenario I know but it might be worth considering.
Posted
Local Hero
I just dont know if im comftable with taking the money and letting them pay for a new engine.
Hmmmm
Posted
Local Hero
Its only a call that u can make, u know what your relationship is like with the other person, no one else.
The engine change is another strange one, if he wants the same engine but just rebuilt and painted etc then ok but does he want to do a complete engine transplant ?
Taking the money is fine as long as there is no sour grapes at any time in the future.
At the end of the day he is offering you the deal so he must be comfortable with it.
Posted
Local Hero
He only wants it doing so its more reliable for when he uses it
Posted
Local Hero
He sees no need to replace it or rebuild it.
Hes going to give it a full service in the coming weeks.
Theres a small oil leak so i need to clean the underside so we can see where its coming from.
Going to book her in for mot in a week or 2.
Then ill be moving it from my drive to a large garage less than a mile away.
Cant wait to get it back on the road
Posted
Local Hero
Posted
Local Hero
Posted
Moderator
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Local Hero
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Moderator
Posted
Local Hero
Yeah cant wait to get it out again.
Need to spend a day or 2 getting my wheels back to normal.
Posted
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