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Saturday, May 16, 07:07:05pmLogin ] [ Main index ] [ Post a new message ] [ Search | Check update time | Archives: 1[2] ]
Subject: The Honda


Author:
Haley
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Date Posted: 20:37:37 11/27/04 Sat

Ok this is just a random idea.. is that allowed on here?? But hear me out.. maybe if we all discuss it and weed out the stupid parts it will be an idea that everyone could benefit from..

My dad is giving me the title to the honda to sell to who I like. He gave me a new car this week, it's not perfect, but it runs, so I really don't need the honda, and I don't need to sell the honda to put money towards a new car; I was planning on selling it to Will and using the money towards my trip towards India. However, I had a thought..

Why don't we all just put some money towards fixing it... and for one or two people maybe this could be the "family Christmas present" (see the "Christmas Spirit" thread I posted) to everyone. ... then the entire family owns a share of the car, and has an equal vote saying who should and should not be allowed to drive it (for example, it can't be used for the younger kids to practice driving on, even though, if they are 16, they have a vote.) And we can collectively decide who needs it the most at any given time.
Whoever is using it would be required to put a percentage of their income (so it's a sliding scale) away towards the repair, maintenence, insurance, tags, etc of the car, into a savings account. Enough money to cover all of those needs plus have a security net if the car is damaged or breaks down. This money would go into a bank account that the family would share control over and could not be borrowed from. The person using the car can choose to personally save towards a car of their own or not, but we as a family can set certain stipulations such as, noone can use it for more than a year (or two, or three or six months..whatever's reasonable) or if they continue to need after this time period, it this will be voted on again... and the person using it should understand that, even though they are putting money towards maintaining the vehicle, they have no claim over it and if a greater need in the family arises, the car may be taken from them at short notice.

If we do this, I guess I'd be the one who had the title.. unless it would be smarter, in terms of insurance and such, if the person using it just had it in their name. I don't know enough about this.
If this seems like too much work (although I bet it doesn't to the people in our family who would really appreciate having a car when their breaks down or when they can't afford one for awhile) - - I would be the one who keeps in touch with the person who has the car, brings to light when there's an issue we all need to decide on, opens and controls the bank account where the percentage of money goes to, and takes the car away if the person using it is abusing it or not paying the percentage they can afford.

Does this sound smart or crazy?? Am I just too influenced by the whole communal lifestyle I've come to appreciate, or would this really benefit our family? I've been thinking about how much we share with eachother when we need help and how much we don't share... and this is something I would really like to do, I know that it could solve a big problem that many of us seem to be plagued by.. the whole car transporation ISSUE.

Feedback! Please!

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Replies:
[> Subject: Re: The Honda


Author:
Beth
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Date Posted: 21:47:06 11/27/04 Sat

Haley and I just talked about this some more and we wanted to clarify a few things.

First - Will has dibs on the car, because they already talked about him buying it.

We also talked about insurance and other things to consider and decided it would be best (and this is only if Will doesn't want to just buy the car outright) if Haley held the title, got insurance that would cover other drivers (and I don't know much about that either), and the person driving it would RENT the car from Haley, paying enough to cover insurance and maintenance. She won't be using that money for anything except the car. Then if the person renting it got another car then the Honda would be returned to Haley and someone else could rent it, or she could sell it then.

All that was covered in about five minutes, so I'm sure there's a lot more to consider . . . but like I said, this only happens if Will decides not to buy it anyway.

Comments . . . questions?

****

Sheesh, don't ever question Haley's recipes - she just punched me in the arm for doing that. Oh the violence.

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[> [> Subject: Re: The Honda


Author:
michael
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Date Posted: 01:37:53 11/28/04 Sun

I know I'm out in the hinterland and not really a part of the local activities but that never keeps me from havin' an opinion.

What if the Honda is given to Will (a very nice gifty for a young man in need of a ride) and then everybody pitches in a couple bucks to help pay for it so Haley doesn't get to be the only one being generous (it might take a couple rounds to actually pay for it depending on its real value)?

If there needs to be an emergency fund for future transportation needs everybody could make a small monthly contribution to an investment account (some allow investments as small as 25 canoles a month) when the need arises the fund could be used as necessary to provide a rental car or eventually buy a car outright. Of course, since the fund would be owned by the group, the group could also decide to do anything else worthwhile with it, like help someone in need, help with someone's college tuition, throw a humongous kegger... or let it grow until the great great grandchildren are fabulously wealthy and can use it to live a life of luxury and ease.

Just my two cents worth...

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[> [> Subject: Re: The Honda


Author:
Haley
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Date Posted: 09:56:04 12/14/04 Tue

that sounds good to me, is it going to happen? And I personally couldn't contribute money each month, not right now. Well maybe $5. (that's 1/6 of my money) But if we all pitched in it would be a good investment for the long run. Also, maybe someone with better credit than me could open the bank account.. so it would get higher interest returns? (Do I know what I'm talking about? I'm not sure.)

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