Possible trade?

**Jessesbride** · 01-21-2008, 11:36 AM

My dh & my BIL are talking about trading their vehicles... both are 2003 models... dh has a paid off F-150 truck (3 seater) & BIL (dh's brother) has a (5 seater) PT Cruiser... both are in fairly good shape tho we do need to do a little work on the truck before we 'swap it'... they are going to swap them in about 2 weeks for a week or 2 to see if they really like the other's vehicle... BIL got a new car not long ago and it is now SIL's car, however wants to get a truck that is HIS only (SIL's too short to drive dh's truck ... at least more than in the neighborhood... not w/o extensions could she really drive it which is a plus for BIL! Plus if they go anywhere as a family they take the car that is now Andrea's anyway! lol...), BIL feels he would like to 'reclaim' a little of his manhood when he comes back to being at home (he's a pilot) & BIL REALLY wants a truck!

DH wants a car that I could drive (I don't drive standard... many have tried to teach me ... ALL have failed!!!) & altho we do want a van eventually, right now it makes more sense for us to have 2 cars! Plus if we traded in his truck for a van he would need to start driving my cavalier which he really doesn't like .. says there is no room for him in it... & yes he's a tall, big man! lol...

I'm all for it... SIL doesn't care either way... BIL & DH are seriously thinking about it... basically we want it to be a fair trade & we would do our best to make sure that it was! Plus btwn BIL & FIL & assorted uncles on either side... we wouldn't be hurting for a truck if we needed to use it! Also... the gas mileage on the Cruiser would be better for us than the truck... & BIL wouldn't use it except for when he is home (he's considered "stationed" in Colorado but of course lives here in OKC area w/his family)! They would basically trade titles to the vehicles & any needed pmts to make the deal fair...

So...What do you think? Think it's a good idea? & anything we should be warned of or whatever before hand? need some feedback on this! Thanks!

Kim

**Jamauk** · 01-21-2008, 11:43 AM

My only word of caution is doing business with family can sometimes get sticky. Is the PT Cruiser paid off as well? If not, who would continue to make payments? I would have the PT Cruiser looked over by a mechanic just to make sure and encourage your BIL to do the same with the truck just to make sure there are no suprises down the road.

Other than that, if everyone is comfortable with the trade, I don't see any reason why you shouldn't do it....

**Laurie in Bradenton** · 01-21-2008, 11:49 AM

I would try a trade for 2 weeks and see how you both like it. Personally I hate PT cruisers DS has one and its too low to the ground for me and I feel cramped in the back. Not to mention DS's is the biggest lemon I've ever seen. Thank Godness its under warrranty s its been into the shop every month. Overheating problems, transmission gliches and electircal issues.
I agree with the prevos post that doing business with family is very unwise and I would take on a payment. Better to go for a second hand van.

Laurie in Bradenton

**Jessesbride** · 01-21-2008, 12:33 PM

We are planning on taking BOTH vehicles to our mechanic (ours is a VERY trustworthy mechanic... wouldn't dare take vehicles anywhere else) they've not had any problems with their PT Cruiser... & yes it is paid off... they actually got it from SIL's parents & it is actually in SIL's & her mom's name (SIL is more than ok w/exchange as long as her mom is ok with it) so she is going to be talking to HER mom before we go any farther in discussions. DH's truck does need a little work on it which will be done before we exchange vehicles. but yes we are planning on figuring out all & putting all in writing beforehand! We exchange computers/phones etc not only on his side of family but on mine as well (& in my family we've always exchanged cars... we get a "new to us car" w/out payments) ...we've NEVER had any probs. & all are very forthcoming with issues. so we never get into problems like that & we are looking to make exchange fair for all parties involved. Plus we do have a vehicle replacement savings but is very short at the moment. once we NEED a new vehicle the $$ should def. be there. ALL cars are paid off XCEPT BIL's new Honda (which has become SIL's new car b/c she refuses to give up "HER" car...lol).

But what I'm trying to figure out is if there will be any penalties etc from a legal standpoint etc. tags. etc.... ??? That's my main concern... & if her mom will be ok w/it... apparently Merna (SIL's mom) is on the title with my SIL (b/c car was transferred from mother to daughter b/c made it easier?) so SIL will legally have to give us the car (of course, if dh & BIL don't trade, BIL will trade the Honda for a pickup truck & SIL will hafta go back to driving the PT Cruiser) does this make sense?

Thanks for the input!

Kim

**Squirt** · 01-21-2008, 12:37 PM

My guess (it's only a guess) is that the truck is worth more than the PT cruiser- I think they hold their value better, and as long as it's not a work truck (basic model) they cost more in the first place. Especially with the PT being a manual. You don't want to wind up wanting to sell a vehicle with little resale value, but then again that might not be important to you.

Look at edmunds.com to check out the "True Market Value" of both vehicles. It takes about 5 minutes.

**Jessesbride** · 01-21-2008, 03:47 PM

We will take all that into consideration... if the truck is worth... say $2000 more then for Chris to get the truck & us to get the car, then Chris & Andrea would pay us that xtra amt PLUS the car... see what I mean? Nothing is set into stone at this point.

Kim

**PrairieRose** · 01-21-2008, 05:42 PM

I have to echo what Jessica said about doing business with family and how sticky it can get in such situations. Let's just say (for sake of argument) that BIL's truck starts to give you trouble 3 months down the road. It's a new problem but still it's a problem. Say it's something not covered by a warranty and it's going to cost you a few hundred (if not a thousand or more) dollars to fix. It's not cosmetic, needs to be fixed to be drivable. How are you going to feel about that? Are you at any point going to harbor ill will if the thing just continues to give you problems? And consider if the shoe were on the other foot. In my humble opinion I'd be more comfortable with going and buying a comparable vehicle myself off of a lot or from someone I didn't know just to side step any long lasting disharmony with someone I loved.

**Iansmommy** · 01-22-2008, 02:20 PM

I would check with you local Department of Licensing as you may still have to pay sales tax on the fair market value of the vehicles even though you are trading and not actually exchanging any $$. Some states will make you pay sales tax on the fair market value even when you are gifted a vehicle.

HTH

Leah