I may buy an Aspire and someone else will drive it...

[Safety Guy]

I have four Festies now, but one will be chopped up soon and made into a trailer and parts.

I'll have three left. One will be in the garage for a thorough overhaul for awhile.

I'm thinking of buying an Aspire and letting my back alley neighbor keep it in her parking spot and let her drive it.

I don't know her that well. She's renting the house behind me. She seems nice enough. Nothing romantic is involved.

I figure I'll buy the car, fix it up, and do all the repairs. She'll be responsible for the following:

-pay full insurance
-pay the deductable if she wrecks it
-pay for gas, since she's using it
-pay for oil changes (I'll charge her $10 a pop to do it)
-pay for any minor repairs she causes (bent fenders, flat tires, etc.)
-$10 per month for six months to help me with the titling costs (about half)

Just talked with her and she likes the idea.

What do ya'll think? Any legal pitfalls I'm not thinking about here?

It'll be a simple contract written up.

Karl

[Tim]

I see no problems, other than making sure that you can have one name on the title and another on the insurance.

Sounds like a great way keep the car on the road and help someone out.


-Tim

[Pu241]

What are the penalties for failing to hold up her end of the bargain?
What happens if she wrecks it and the insurance co totals it?

[Safety Guy]

Penalties if she doesn't hold up her end on costs:

I have to find somewhere else to keep the car. I could sell it, too.

If she wrecks it: I'll make sure she has full insurance. According to the contract, she'll be liable for the deductable. If the car gets wrecked, it gets wrecked. I may be able to "buy it back" and use the parts.

I have no immediate plans for this "brake swap" if I get it. (I don't really want the suspension from a '94. I'll be looking for a really nice '96 or '97 when it's time for Twin to get her suspension swap.)

What do you think, John?

Thanks Tim.

Karl

[Pu241]

Just as long as your OK with the loss if she wrecks it and you are not libel for anything she may do with it.

Tim as a good point about the name on insurance vs title, not sure how Ohio works.
But you could be the payee on the insurance contract if you "rented" the car to her for $1/year!
Just a thought.

[GenevaDirt]

I know that someone else can own a car and another have the insurance in their name....my mother did it when she was buying a car from a private owner once.

[Safety Guy]

Yeah, thanks Willie. I'll be checking into that aspect.

I can also see the potential value in "renting" to her for a buck a year. That may clear things up.

Karl

[TominMO]

I'm thinking of buying an Aspire and letting my back alley neighbor keep it in her parking spot and let her drive it.

I don't know her that well. She's renting the house behind me. She seems nice enough. Nothing romantic is involved.

I'm not sure why you would do this. To help her out apparently? Kinda shaky that you don't know her that well.

If she's paying full-coverage insurance, she can afford to use that money to just buy it from you over a period of six months or so, and then only pay the minimum coverage needed by law. In other words just loan her the bux to buy it, then pay you back over time. That would really help her out because then she would own it. And a much tidier situation.

[Festiva_tunner]

Tom has a point
Unless you really want the aspire and she just needs a car until she finds one of her own

[TominMO]

Thread hijack:
Trevor, are you still at work, or at a friend's that has internet?
I'll call you tmw to see if you want to buy the 323. Talked with John about* it, and he's fine as long as he gets dibs if/when you sell it.

* "aboot" in Canada; sometimes "abowt". Not in Quebec though; I think they speak Spanish or something there.

[Safety Guy]

Festy-tunner said:

"Unless you really want the aspire and she just needs a car until she finds one of her own."

Yep. She can't afford to buy a car and I want it. It'd be really nice if it were a great condition '90LX in yellow, but it's a nice looking, relatively low miles '95 Aspire 4 door in that weird pinkish metallic dusty mauve color. I find that hard to resist.

She's checking on the insurance cost.

It's nowhere near a done deal yet. I may wake up, smell some strong coffee and then come to my senses at any moment.

Karl

[Festiva_tunner]

I want to say insurance on my 97 egg ran 86 a month for full coverage with towing.
As long as you have a well written contract and have it noterized you should be safe - but know that something may happen and you may have to act on the contract. Best case you work it out without issues and no court.

[wybnrml]

Make sure there is something in the contract that says if she gets hurt from anything caused by the car that it is not your fault, like if seatbelts break or the airbags don't go off in a wreck, that way she can't come back and sue you because the title is under your name.

[TominMO]

Make sure there is something in the contract that says if she gets hurt from anything caused by the car that it is not your fault, like if seatbelts break or the airbags don't go off in a wreck, that way she can't come back and sue you because the title is under your name.

This kinda thing is why I feel that the arrangement is too messy. I'd rather see you just buy it for her, stick it in her name immediately, and she pay you back. Then you're in the clear no matter what. Very worst case scenario, she moves to Guam or somewhere and you lose a few hundred bux. Beats any of the other possibilities with the original arrangement you proposed in the beginning of this thread.

[Charlie1717]

Or you could buy it bring it to my house then leave it their forever :p I have no legal issues with that idea