How much discount selling to family?

[Chapap]

I’m planning on getting a Bullnose or OBS. The current ranger will probably go to my kid brother for his first car. It’s a learning and sense of ownership thing, so I no gifting, loaning or borrowing. It should be a $1000 truck bought after a couple months of work, but Of course that’s not the case anymore.

It has a new tranny and once I change the crank sensor, it’ll have a reverse crate engine (just about everything that a crate engine doesn’t have is new), and a bunch of other stuff.

Id like $6k for it, but I don’t really think that would happen… it’s just not quite pretty enough… but it’s definitely not ugly. I don’t think I’d take under $5k tho. So what kind of discount would yall give a kid in the family?

 

[don4331]

Those I fixed up and sold outside the family were sold at open market value.

The family has received Rangers I have fixed up at my cost - original purchase price + parts + safety. Nothing for my labour.

There is an understanding there that I'm not fixing any new problems as I didn't make any money.​

I will help them fix - tools, know how, occasional muscle, but its their's.​

 

[Chapap]

Those I fixed up and sold outside the family were sold at open market value.

The family has received Rangers I have fixed up at my cost - original purchase price + parts + safety. Nothing for my labour.

There is an understanding there that I'm not fixing any new problems as I didn't make any money.​

I will help them fix - tools, know how, occasional muscle, but its their's.​

I’m not as good of a mechanic as I let people think. Those two numbers are dangerously close . You ever “finance” a car? That can get ugly.

 

[Roert42]

I’ve given both my younger brothers a vehicle free and clear. They were both broken and junky. One needed the engine replaced, but I bought a junk yard pull out. The other needed a bunch of electrical and suspension stuff, but I bought the parts.

Both times I made them do all the work while I got too drunk to give helpful advice and pointed at stuff.


Might be better to sell the truck, buy a beater for a 1/4 the price and help him fix it up. That way you are out less money and he can get a good sense of ownership through hard work.

 

[Eddo Rogue]

Depends how close of family, and how much it would be appreciated. I give a "going to good home" discount in general. Ideally something the kid could afford, and wont suffer heavy losses selling later if cared for. A good kid would pay you eagerly whatever afforded, and love the truck.
My time and labor is what I don't discount lol.

 

[DILLARD000]

....made them do all the work while I got too drunk to give helpful advice and pointed at stuff...

LMAO, a man of my own heart!

 

[superj]

i go with what they can afford, also. and than offer to help them work on it when they need help or are doing upgrades/mods.

generally what i have done more often is go with them to help them find what they really want and then help fix its issues and help do mods as time goes on.

 

[don4331]

I "finance" vehicles - when you complete paying for it, it will move off my driveway; cash is king.

If you can't complete purchase in 90 days, I'll return your money and sell it on open market.​

 

[Ranger850]

Find out what the kid can afford to pay out rite. If it's close, take it and let him know his BIG BRO Chappy was looking out for him. If he can't afford what you want, but does want the truck, try to work something out like a lump sum of $$$ and then him coming over to mow your yard a few times or something.

 

[Fast Eddie]

You don't lend friends money and you don't sell family vehicles - not if you want to stay on good terms. Give? Maybe. Sell? Definitely not!

Budda is done here...

 

[Eddo Rogue]

With true friends (and family), you don't need to "keep score". Money and favors...labor, supplies, tools, materials etc. goes back forth. I gladly pay or help, because I feel like I owe them, and they feel the same towards me. Sounds a little utopian idealistic, but I do have a small handful of such people. It helps that we all now own homes in the neighborhood we grew up in. Mines the crappiest, but I have the biggest pool lol.

 

[Roert42]

I do have a small handful of such people. It helps that we all now own homes in the neighborhood we grew up in. Mines the crappiest, but I have the biggest pool lol.

Sounds like a dream. I have a few friends, and it’s the same way.

Unfortunately we are a bit spread out due to the fact that the area we are from is not very affordable unless you have a fancy job in one of the near by cities

 

[09fx4guy]

I don't like selling vehicles to people I know because it usually results in nothing but problems. But it's whatever you feel like doing. If you and your kid brother are close, and he's into trucks, then maybe go with bottom end of market value. If the truck is worth 5k, and you are into it for 4k, split the difference and call it good.

You know that at some point you will be helping with repairs and advise, but again, it's your kid brother. If he is not into trucks / wrenching, it may not be the vehicle for him.