I was in an accident 3 weeks ago where my 2003 Civic was totaled. I was not at fault but am having an ordeal with the other driver's insurance company on the liability claim. Anyway, I'm needing another car soon. I'm looking at 2006+ Civics and have found one I like. I can use my insurance money when I get it (who knows how long) and have a nice down payment for it. But my dad has a 2009 Civic for his DD and mentioned that we might could work something out on it. I really want my own car but his option doesn't sound bad either. What would you guys do?
Advice on getting new to me replacement vehicle
- Thread starter trx250x92
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A.) if you are directly dealing with the other parties insurance and it isn't going well consider getting your insurance company involved. In my experience they will total out your car, cut you a check minus your deductible and probably go after your deductible and get you that later on. It's a service you're paying for. At the very least perhaps mention this option to their insurance company when they next contact you.
B.) It's tough to say because I don't know your family situation. I'd assume you don't have the cash to buy his car off him and would work out a payment plan? Doesn't sound too bad to me.
FWIW we had a 2003 civic and my father in laws wife has the next generation that you are looking at and I do think it's a big upgrade.
B.) It's tough to say because I don't know your family situation. I'd assume you don't have the cash to buy his car off him and would work out a payment plan? Doesn't sound too bad to me.
FWIW we had a 2003 civic and my father in laws wife has the next generation that you are looking at and I do think it's a big upgrade.
JHZR2
Staff member
Do you have zero savings?
I'd just go out and buy another car. Any settlement wouldn't be until I was happy with it, however long that took, and go back in the bank.
There is a reason people have emergency funds. Yours is an emergency.
I'd just go out and buy another car. Any settlement wouldn't be until I was happy with it, however long that took, and go back in the bank.
There is a reason people have emergency funds. Yours is an emergency.
Originally Posted By: bepperb
A.) if you are directly dealing with the other parties insurance and it isn't going well consider getting your insurance company involved. In my experience they will total out your car, cut you a check minus your deductible and probably go after your deductible and get you that later on. It's a service you're paying for. At the very least perhaps mention this option to their insurance company when they next contact you.
B.) It's tough to say because I don't know your family situation. I'd assume you don't have the cash to buy his car off him and would work out a payment plan? Doesn't sound too bad to me.
FWIW we had a 2003 civic and my father in laws wife has the next generation that you are looking at and I do think it's a big upgrade.
I'm considering filing thru my uninsured motorist and letting my insurance fight it back with hers. They are not willing to take 100% liability on the claim although they should. I'm wanting another manual transmission car, and the one I'm looking at and my dad's are both manuals.
Originally Posted By: JHZR2
Do you have zero savings?
I'd just go out and buy another car. Any settlement wouldn't be until I was happy with it, however long that took, and go back in the bank.
There is a reason people have emergency funds. Yours is an emergency.
I don't have enough to buy a car yet really.
A.) if you are directly dealing with the other parties insurance and it isn't going well consider getting your insurance company involved. In my experience they will total out your car, cut you a check minus your deductible and probably go after your deductible and get you that later on. It's a service you're paying for. At the very least perhaps mention this option to their insurance company when they next contact you.
B.) It's tough to say because I don't know your family situation. I'd assume you don't have the cash to buy his car off him and would work out a payment plan? Doesn't sound too bad to me.
FWIW we had a 2003 civic and my father in laws wife has the next generation that you are looking at and I do think it's a big upgrade.
I'm considering filing thru my uninsured motorist and letting my insurance fight it back with hers. They are not willing to take 100% liability on the claim although they should. I'm wanting another manual transmission car, and the one I'm looking at and my dad's are both manuals.
Originally Posted By: JHZR2
Do you have zero savings?
I'd just go out and buy another car. Any settlement wouldn't be until I was happy with it, however long that took, and go back in the bank.
There is a reason people have emergency funds. Yours is an emergency.
I don't have enough to buy a car yet really.
Finance with low money down and when you get the payoff throw that at your car (keeping $1-2k in the bank for other emergencies like home repair.)
Is your dad letting you have the car with him getting something else new? It's good to get a car from within family (usually) as it won't be a pig in a poke like a used one from a dealer. Particularly a make known for reliability-- you might get a turkey that was very poorly maintained, a flood car, etc.
Is your dad letting you have the car with him getting something else new? It's good to get a car from within family (usually) as it won't be a pig in a poke like a used one from a dealer. Particularly a make known for reliability-- you might get a turkey that was very poorly maintained, a flood car, etc.
For me I would definitely look for another 2003-2005 Civic as they are cheap off Craigslist. The 2009 Civic your dad has is waaaay out of your budget.
I own a 2007 Civic EX and its a great car.
I own a 2007 Civic EX and its a great car.
Originally Posted By: eljefino
Finance with low money down and when you get the payoff throw that at your car (keeping $1-2k in the bank for other emergencies like home repair.)
Is your dad letting you have the car with him getting something else new? It's good to get a car from within family (usually) as it won't be a pig in a poke like a used one from a dealer. Particularly a make known for reliability-- you might get a turkey that was very poorly maintained, a flood car, etc.
My dad wouldn't be getting something new right away. He would probably be driving my stepmom's car to work some and maybe his truck every occasionally. I'm looking at a 2008 Civic coupe with 66k miles. In good condition, Carfax says it was involved in a minor front collision not long after it was new. I inspected the front of it today and drove it. Can't tell if bumper and whatnot was replaced as the factory Honda sticker with the VIN# is on the backside of the bumper. Nice, tight car.
Finance with low money down and when you get the payoff throw that at your car (keeping $1-2k in the bank for other emergencies like home repair.)
Is your dad letting you have the car with him getting something else new? It's good to get a car from within family (usually) as it won't be a pig in a poke like a used one from a dealer. Particularly a make known for reliability-- you might get a turkey that was very poorly maintained, a flood car, etc.
My dad wouldn't be getting something new right away. He would probably be driving my stepmom's car to work some and maybe his truck every occasionally. I'm looking at a 2008 Civic coupe with 66k miles. In good condition, Carfax says it was involved in a minor front collision not long after it was new. I inspected the front of it today and drove it. Can't tell if bumper and whatnot was replaced as the factory Honda sticker with the VIN# is on the backside of the bumper. Nice, tight car.
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There's nothing wrong with buying cars from family, as long as everything is done above board. Financing through a family member is another animal altogether and I advise you to avoid it like the plague. If you do so, every financial choice you make becomes your dad's business. If you stop by and are holding a $4 cup of coffee, he will wonder if that will affect your ability to pay him that month (it will be an involuntary thought and he would probably deny thinking so, but that thought will cross his mind). God forbid you miss a payment or even make it a bit late! Yes, he will "understand", but will not like it and will judge every financial decision that much more. Job loss? Emergency? Total that car?
What you will owe him will be more than just money and everyone will know it, even if it is not vocalised. It isn't worth it, even if he charges you no or little interest.
I warn against financing anything other than a house, but if you must finance it, do it with a local credit union, put down as much as you can (keeping $1,000 as an emergency fund), and then throw everything you get as a settlement from your or the other driver's insurance company at the loan to pay it off ASAP. Even if you get a higher interest rate because of not being able to put much down, you can refinance after paying it down.
What you will owe him will be more than just money and everyone will know it, even if it is not vocalised. It isn't worth it, even if he charges you no or little interest.
I warn against financing anything other than a house, but if you must finance it, do it with a local credit union, put down as much as you can (keeping $1,000 as an emergency fund), and then throw everything you get as a settlement from your or the other driver's insurance company at the loan to pay it off ASAP. Even if you get a higher interest rate because of not being able to put much down, you can refinance after paying it down.
Originally Posted By: trx250x92
Originally Posted By: bepperb
A.) if you are directly dealing with the other parties insurance and it isn't going well consider getting your insurance company involved. In my experience they will total out your car, cut you a check minus your deductible and probably go after your deductible and get you that later on. It's a service you're paying for. At the very least perhaps mention this option to their insurance company when they next contact you.
B.) It's tough to say because I don't know your family situation. I'd assume you don't have the cash to buy his car off him and would work out a payment plan? Doesn't sound too bad to me.
FWIW we had a 2003 civic and my father in laws wife has the next generation that you are looking at and I do think it's a big upgrade.
I'm considering filing thru my uninsured motorist and letting my insurance fight it back with hers. They are not willing to take 100% liability on the claim although they should. I'm wanting another manual transmission car, and the one I'm looking at and my dad's are both manuals.
Originally Posted By: JHZR2
Do you have zero savings?
I'd just go out and buy another car. Any settlement wouldn't be until I was happy with it, however long that took, and go back in the bank.
There is a reason people have emergency funds. Yours is an emergency.totaled. I was not at fault but am having an ordeal with the other driver's insurance company on the liability claim.
I don't have enough to buy a car yet really.
What is their excuse for not paying?
Originally Posted By: bepperb
A.) if you are directly dealing with the other parties insurance and it isn't going well consider getting your insurance company involved. In my experience they will total out your car, cut you a check minus your deductible and probably go after your deductible and get you that later on. It's a service you're paying for. At the very least perhaps mention this option to their insurance company when they next contact you.
B.) It's tough to say because I don't know your family situation. I'd assume you don't have the cash to buy his car off him and would work out a payment plan? Doesn't sound too bad to me.
FWIW we had a 2003 civic and my father in laws wife has the next generation that you are looking at and I do think it's a big upgrade.
I'm considering filing thru my uninsured motorist and letting my insurance fight it back with hers. They are not willing to take 100% liability on the claim although they should. I'm wanting another manual transmission car, and the one I'm looking at and my dad's are both manuals.
Originally Posted By: JHZR2
Do you have zero savings?
I'd just go out and buy another car. Any settlement wouldn't be until I was happy with it, however long that took, and go back in the bank.
There is a reason people have emergency funds. Yours is an emergency.totaled. I was not at fault but am having an ordeal with the other driver's insurance company on the liability claim.
I don't have enough to buy a car yet really.
What is their excuse for not paying?
JHZR2
Staff member
Originally Posted By: eljefino
Finance with low money down and when you get the payoff throw that at your car (keeping $1-2k in the bank for other emergencies like home repair.)
Is your dad letting you have the car with him getting something else new? It's good to get a car from within family (usually) as it won't be a pig in a poke like a used one from a dealer. Particularly a make known for reliability-- you might get a turkey that was very poorly maintained, a flood car, etc.
I agree on both accounts. But the car from family should be a reasonable deal, and figuring that you will only get 75% of the settlement you are planning for, you should be able to afford the difference and pay it off in no time. Holding a big loan on a depreciating used asset is just not smart.
Finance with low money down and when you get the payoff throw that at your car (keeping $1-2k in the bank for other emergencies like home repair.)
Is your dad letting you have the car with him getting something else new? It's good to get a car from within family (usually) as it won't be a pig in a poke like a used one from a dealer. Particularly a make known for reliability-- you might get a turkey that was very poorly maintained, a flood car, etc.
I agree on both accounts. But the car from family should be a reasonable deal, and figuring that you will only get 75% of the settlement you are planning for, you should be able to afford the difference and pay it off in no time. Holding a big loan on a depreciating used asset is just not smart.
Did you have collision insurance?
If you do have it you may want to see what your insurer offers you for the vehicle. It may be more and guarantee faster. In the end they simply subrogate the claim (collect/negotiate) from the at fault insurer as a matter of business.
If you do have it you may want to see what your insurer offers you for the vehicle. It may be more and guarantee faster. In the end they simply subrogate the claim (collect/negotiate) from the at fault insurer as a matter of business.
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