My dad paid for my car, I paid the down payment maintience, regastration, and the insurance. I totaled the car

Question

I had the car for six years I totaled it in an accident the insurance company is going to give 6,000 for it, he does not feel I shou8ld recieve any of the money. I think I should get at least half. What do you think?

I am 23 my name and his name is on the title. WE both had to sign paper work. I was going to buy a new car before the crash and he told me to use it as a trade in or sell it.

Answer 1

He is lease/half owner on the car. Even if he paid for it, you also contributed to the car. Therefore, most courts will split the cost in half if it went to court.

I say give half and call it a day. The $3,000 can go down as down payment.

Answer 2

So, what plan does your dad have for getting you a new car?

If he isn't planning on using that 6k for a down payment on your next car, then he has serious issues that can't be resolved here. If your dad is going to be a stubborn jackhole, then you should get at least your down payment back.

this part's important (added after your edit)......who is the check going to be made out to? If it's you, then you have all the cards, if it's him, then you're going to have to suck it up and negotiate with him. Try this angle: "Daddy, I can put the 6k down on a new car that will be a lot less costly, and make the payments myself, w/o your help!" or if that doesn't work ( and I don't normally condone this, but your dad is being a bit unreasonable) cry like there's no tomorrow.


Use this as ammo: You're not going to get the most expensive thing you could concievably afford to buy. You really should be looking at 12 - 16k car and be putting that 6k down on it. You should finance for NO MORE than 48 months, 24 being ideal if you can afford the payment. This will go a VERY LONG way in putting you down the road to financial independence. This arguement will also show how mature you've become, and what a great job your dad did in raising you.

Answer 3

I think you are entitled to something, especially if you've been responsible enough to pay the insurance and keep the registration. My FIL did a similar thing with my husband's car...he was all willing to sign it over to us after we got married until he found out we wanted to use it as a trade. It took some discussion, but he eventually came around to our point of view. I mean, he had no interest in using the car for himself, so what was the big deal.

I recommend you calmy talk to your dad (which can be hard!!). Explain that you're sorry you totalled the car, but accidents happen. Ask why he was willing to let you use it as trade but now won't let you use the settlement toward a new car. I don't see where $3000 each is unfair at all.

One thing you may want to do is look up the trade value on the wrecked car. If it's less than $6000 and your dad is still being difficult ask at least for the value of the trade. We were going to do this with my FIL is he wanted to keep the car. Had he said we couldn't trade it, we were going to request he just pay us the trade value.

If you talk with him, he may come around. Dad's can get weird sometimes.

Answer 4

Money problems with relatives are not easy because you have a relationship with this person, and you do not want the money issue to sour the relationship.

My opinion is that if for 6 years, you drove the car, and kept up with the insurance and all that stuff, then it was yours by ownership. But legally, your dad paid for it so at least a % of it was owned by him. Did he pay for the car as a gift or were you to repay him? Was the title in his or your name?

I would add up how much he paid for the car, and how much you put into it. Figure out the percentage of what each person paid. Find out the current value of the car, and split the money on the percentage. You will need some for a new car. But he may feel entitled to some or all of the money since he had invested in it.

You may need to consult a lawyer to protect your legal rights. Usually this could be solved in one visit that they might not charge for. But for the sake of family, I would be prepared to give him some money, it's just a matter of how much.

Answer 5

Ok, I have three thoughts on the matter.

1. Who's name was the car in? If he paid for it he may be looking at it as it was his car and you paying the down payment, maintenance and insureance was the payment he felt due for letting you drive the car for 6 years. But then if you had wanted to sell the car to buy a new one was he going to ask for the original money back? Was he looking at the cost of the car as a loan rather than as a gift? Depending on the initial outlay that he put out for the car he could be right.

2. If this was truly a gift of a car to a child and you did take care of it for 6 years, then this sounds like a form of punishment for wrecking the car. But if the original was a gift then he should let you have the money so you can use it to replace the car and just get over it.

3. What is probably correct is that this was more in the way of a depreciating loan than a true gift. If you wanted to buy your own car he may have wanted some amount of money back or just the old car back when you would have gone to buy a new one. If you had this car for 6 years that kind of puts you about at 22 years old and old enough to have a job and to work for your own toys. If you really want to be fair about it figure out how much your dad paid into the car. Figure out how much you paid for the down payment and maintenance (leaving out filling with gas). Do not include insurance and registration, those have nothing to do with ownership of the car and have more to do with the privilage of driving the car. Figure out those two totals and come up with the true percentage of ownership. Your dad would deserve the percent he paid in and you would deserve the percentage that you paid in comparison for the down payment, plus the ongoing maintenance.

Last things to think about...
Your about 22 years old.
You screwed up and wrecked your car.
Be responsible, it's time.
It will suck for awhile but either buy a cheep car just to get around
Or figure out how to get around without one until you can save money. Bicycle, Scooter, Bus so on...
Family is always more important than a car.
How many times has your father had to pay for anything for you food, clothing, shelter and so on.
Best of Luck

Answer 6

Well, you're going to need a new car - so....I think you need at least half. It was nice of him to buy the car for you in the first place, but he bought it for you - not for him or his gain. If there was not an agreement in place that stated that, if you totalled it, he got the money back - then the money is yours, sweetie.

He needs to understand that, and not hold that against you.

Tell him, that's fine - you'll give him the money - but then you need to borrow it again so that you can go buy a new car with it!

Answer 7

More importantly, who's name is on the insurance? If yours, the settlement goes to you. You were the sole insured driver, I assume. The title and registration aren't as important as who was the insured driver of the car in question.

From a moral stand point, half is appropriate. To me it sounds kind of like "indian-giving" for him to expect the full settlement, based on the assumption that it was sort of a gift and sort of teaching you responsibility with money and teaching you about cars.

Answer 8

Technically it was your dad's car since he paid for it so he's right to feel you don't deserve the money, if you at some point paid your dad back for the money he spent on your car then you would deserve all of the money.

Answer 9

He paid for the car...

while I agree he should give you a little to put down on another car...but it's his money

Answer 10

If both your names are on the title then split the money