Author Topic: Was Gifted a Car. How to Fix our Two Car Problem  (Read 4586 times)

falcondisruptor

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Was Gifted a Car. How to Fix our Two Car Problem
« on: September 05, 2014, 12:13:18 PM »
Hi, so this is an odd problem, but we were recently gifted a car.

We own a 2007 Mazda 3 with about 150,000 km or so.  It's got some cosmetic dents from getting hit by two other cars while parked and a scrape from a parking lot pillar.  We weren't planning on fixing the damage because we didn't really care.  We bought the car in 2010 and had planned to drive it into the ground.

Last month though our plan hit a speed bump.  The inlaws gifted us their 2003 Honda Accord with no dents, leather seats, the works.  It has about 130,000Km on it they spent about $2,000 to get it safetied for us.  It's been transferred into our name now.

So we now have two cars.  I stay at home and my better half commutes to work with public transport.  We do not need two cars.

Which car should we keep?  Which should we sell?  Should we sell both and get a different car?  It's just the two of us and our toddler. 

We've safetied the Mazda.  It took about $1000 of work for brakes, chipped windshields, randome lights etc. to pass.

MillenialMustache

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Re: Was Gifted a Car. How to Fix our Two Car Problem
« Reply #1 on: September 05, 2014, 12:17:00 PM »
Which do you like better? Which is worth more? I would weigh those two questions to choose which one to sell. Also, will your in-laws be upset if you sell their gift?

falcondisruptor

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Re: Was Gifted a Car. How to Fix our Two Car Problem
« Reply #2 on: September 05, 2014, 12:22:40 PM »
Which do you like better? Which is worth more? I would weigh those two questions to choose which one to sell. Also, will your in-laws be upset if you sell their gift?

I like the ride of the Accord better, but I was perfectly happy with the Mazda before.  They're both pretty old.  I'd say the Accord is worth a little more and would be easier to sell because there's no cosmetic damage. 

The inlaws would probably be taken aback.  But, it it's the right thing for us to do, I think (hope) they'd be happy for us.

nordlead

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Re: Was Gifted a Car. How to Fix our Two Car Problem
« Reply #3 on: September 05, 2014, 01:05:11 PM »
In the US you would have had to sign for the car for it to be transfered into your name. At that point, I would have asked before signing if they got offended if I sold.

I'd consider keeping the Honda over the Mazda, but it is a tough call to make without seeing them in person. A Honda Accord in good condition will last over 400,000 km (250,000 miles). My sister-in-law has my old 96 Honda with over 250k miles and it still runs fine even if it looks like crap (it was hit in the passenger door by a deer ~4 years ago), leaks a little oil, and rattles a bit. Your Mazda sounds like it is going to end up with body rust issues sooner rather than later which could cause other issues depending on where you damaged it. But the Mazda is 4 years newer.

I wouldn't sell both. You should easily have 5 years left on either car. Not really sure on the Mazda since some sites say it is "meh" for reliability, while others say it is great, but the Honda can easily do 5 if not another 10.

Argyle

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Re: Was Gifted a Car. How to Fix our Two Car Problem
« Reply #4 on: September 05, 2014, 01:17:08 PM »
I'd keep the Honda.  It has fewer kilometers, and I've had good experiences with Hondas.  Mazdas are a little less reliable, I believe.  All that plus the fact that you'd please the in-laws.  Win-win.

theonethatgotaway

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Re: Was Gifted a Car. How to Fix our Two Car Problem
« Reply #5 on: September 05, 2014, 02:22:07 PM »
You like the Honda better, the Honda was a nice cool gift. Honda lasts forever. Keep the Honda. I see potential in law downsides to selling the Honda since you already accepted it, and I see zero downsides to selling the Mazda (even financially, which in this scenario is not a big difference).

hybrid

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Re: Was Gifted a Car. How to Fix our Two Car Problem
« Reply #6 on: September 05, 2014, 02:51:21 PM »
You accepted the gift presumably in the spirit that you would actually drive it (otherwise why would they have put money into it), so your only real option is to sell the Mazda.

MicroRN

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Re: Was Gifted a Car. How to Fix our Two Car Problem
« Reply #7 on: September 05, 2014, 03:01:04 PM »
I'd hang onto the Honda.  My old Accord was still running fine at about 275,000 miles and 15 years, when I traded it in on my truck.  I still regret trading it in.  It was one of the best vehicles I've owned. 

ender

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Re: Was Gifted a Car. How to Fix our Two Car Problem
« Reply #8 on: September 05, 2014, 04:02:57 PM »
You accepted the gift presumably in the spirit that you would actually drive it (otherwise why would they have put money into it), so your only real option is to sell the Mazda.

+1

falcondisruptor

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Re: Was Gifted a Car. How to Fix our Two Car Problem
« Reply #9 on: September 05, 2014, 04:10:47 PM »
So the consensus is to sell the Mazda it seems, which is helpful, thanks guys! 

Just as a followup, when they gave us the car they said that it had served them well and owed them nothing and that we could do whatever we wanted with it.  Still, I did feel a bit awkward with keeping the Mazda and selling the Honda.  I think that's why we were considering selling both and getting a car that would better meet our needs 4 or 5 times a year, like a minivan.  Then they could see the addded benefit and not feel like we'd passed on their gift.  But I think the cash in hand would be better for the rest of the year!

Any suggestions for selling a car with dents?  Our thoughts are that it's a 7/8 year old car and it would be better to sell with the dents as an operating car than to make the exterior perfect and maybe not recoup our costs.  Thoughts?  Thanks for all the responses so far guys.

RWD

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Re: Was Gifted a Car. How to Fix our Two Car Problem
« Reply #10 on: September 05, 2014, 05:18:07 PM »
Any suggestions for selling a car with dents?  Our thoughts are that it's a 7/8 year old car and it would be better to sell with the dents as an operating car than to make the exterior perfect and maybe not recoup our costs.  Thoughts?  Thanks for all the responses so far guys.

I would be very surprised if fixing the cosmetic issues would cost less than the corresponding increase in resale value. How many people can there be looking to pay a premium for a pristine used Mazda 3?

Reddleman

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Re: Was Gifted a Car. How to Fix our Two Car Problem
« Reply #11 on: September 05, 2014, 05:44:44 PM »
Reliability of both cars is good, but the edge goes to the work put in the Honda.  Plus the family connection seals the deal.

As for fixing the dents- unless you can do it yourself, it will probably not add much resale value and you'd loose money paying someone for it.  Bodywork is expensive!

So sell the Mazda for what you can get, drive the Honda for a while and see what you think.  If after a year you decide you'd be better off with something else, you can sell it and tell the in-laws what a wonderful car it was, and how you would have kept it forever, but you needed a car with. . . .  Whatever.

In any case, this is a problem that's not bad to have!

Petunia 100

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Re: Was Gifted a Car. How to Fix our Two Car Problem
« Reply #12 on: September 05, 2014, 05:55:42 PM »
If the paint is not broken, look into "Dent Magic".  It's a franchise kind of thing, just Google it and see if it is in your area.   It's pretty cheap to get the dents popped out this way.  If Dent Magic is not an option, just sell the car as is.  A traditional body shop will  charge more than you will recoup.

unpolloloco

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Re: Was Gifted a Car. How to Fix our Two Car Problem
« Reply #13 on: September 05, 2014, 06:20:02 PM »
A rubber mallet can also work wonders on dents if you can get to the backside of the dent!  Typically not worth repairing cosmetic damage pre-sale.