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Sharing a Car and Plan to Buy a New One.

February 16th, 2011 at 06:17 am

Well, it has been working out perfectly sharing my daughter's car for the past four months. The car is actually in my name, but she paid for it, with her own money, when she got her license a year and a half ago.

So, insurance is due next month on it. I told her I would split it with her. She said I didn't have to. I said, yes I do, we have been sharing and I appreciate it and it is no big deal.

So, next month, I will give her my portion of the insurance due and we will pay the bill.

I have been putting some money away into a car fund. I was thinking of allocating the money from my summer beach job for a vehicle. I would add that to what I have saved and go buy myself a car. Afterall, my youngest will be taking his road test soon and he will be sharing my daughter's car. It will just be too hard for the three of us, especially, if my youngest finds a job.

I should have about $4,000 - $5,000 saved up for a vehicle by September. Should be able to find something decent for that amount of money.

3 Responses to “Sharing a Car and Plan to Buy a New One.”

  1. creditcardfree Says:

    Good plan and so very nice of your daughter to share her car with you.

  2. Homebody Says:

    Good plan... like credit said. I need to start thinking about saving for a new to me car.

  3. Jerry Says:

    Splitting the insurance is a fair and good thing to do, and I think it has to lead to some serious appreciation of the part of your daughter. Great plan, and fair.
    Jerry

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