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Giving An Auto As a Gift

Karen_CMKaren_CM Posts: 5,018
Okay, so we have a press request out wanting stories for this subject, but I think it would be interesting to read here also. Maybe you haven't been on the receiving/giving end, but perhaps you know someone and can share their story here.

Personally, my husband and I were given a used Dodge Van by my inlaws when we married. Check out my CarSpace album for the photo. It would go through two quarts of oil a week and I'd hate to think what the MPG was, but way back then...who worried about the price of gas??!! :blush:

And before I forget:

A reporter with a national newspaper is hoping to talk with consumers who have ever gotten or given a car for Christmas. The reporter is especially interested in funny/unusual or good or bad experiences and what works or what doesn’t. Please reply to ctalati@edmunds.com no later than Tuesday, December 5, 2006 with your daytime contact info.

Community Manager If you have any questions or concerns about the Forums, send me an email, karen@edmunds.com, or click on my screen name to send a personal message.

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Comments

  • andre1969andre1969 Posts: 22,007
    I had a 1980 Malibu, 1986 Monte Carlo, 1985 LeSabre, and a 1967 Newport given to me. The Malibu was my first car, given to me by my Mom. She gave me the Monte Carlo in 1998, when it had about 179,000 miles on it. I put 13,000 more miles on it in 3 short months delivering pizzas, and then got t-boned, totalling it.

    I got the 1985 LeSabre when my grandmother gave up driving. And I got the 1967 Newport when the grandmother of one of my friends died. She had let her home fall into disrepair, along with the Chrysler, and they just wanted the Chrysler gone so they could get it away from the house and get it ready to put on the market.

    Oh, when I was married, I bought an '88 LeBaron from my uncle to give to my wife. When we divorced, I made sure to let her have that turd instead of my '68 Dart, which I knew would be a more durable, reliable, cheap-to-fix car over the long haul.
  • lemkolemko Posts: 15,189
    ...a 1968 Buick Special Deluxe station wagon to my brother when I bought a 1979 Buick Park Avenue. It wasn't worth anything at the time so I said "What the heck?" My brother certainly appreciated my generosity.
  • rockyleerockylee Wyoming, MichiganPosts: 13,989
    My wife totaled early morning our 1998' ford mustang which happens to be my work car. She was driving down the road and hit a patch of black ice and the stang did a 360' she said and a crew cab Dodge Ram Diesel hit her in the drivers side door and crushed it inward. So the door and rear quarter panel are ruined. She had 149K on her and was a strong runner and very reliable. We have called salvage yards around the area seeing what we can get for her. It's really a shame because this ruined my plans for buying the 1990' Ford Mustang 7-UP since I will have to now spend the money I set aside on another work car on top of already needing another family car. :cry: I'm very thankful my wife is okay and she walked away with only some whiplash and a good bruise. The Dodge, stalled on the wife in a school zone 3-weeks. Guess what ? The Dodge Truck is still in the shop and it's been 3-weeks. :mad: They replaced the gas tank the cause for the stall, replaced the radiator which has been leaking, and fixed the AC unit and it now won't start at all. So they had to order some more parts for it. :sick: The dodge has nickeled and dimed me to death.

    So the morale to this story is the 7-UP Mustang was suppose to be my birthday and christmas gift from my wife. The transaction was suppose to take place this afternoon and the car was suppose to go out monday. A good chunk of money I had set aside for the 7-UP stang will have to be used on finding me a reliable work car instead. I think after the dodge gets out of the shop I'm going to sell her. My wifes uncle who has the title to the 2000' Buick Century, I want to buy is being a butt (kinder word than I meant) and has delayed signing it over because he's supposably busy....Whatever !!!!!.....Maybe you've been a busy couch potato. :mad:
    My mother is coming from Michigan, to visit tommorow and I'm left with no working car because of my wifes uncle. :mad: I'm now going to have to go rent one for a few days because I was suppose to get the Buick, a couple of weeks ago. :mad:

    More drama and disappointment in my life. :cry:

    Rocky
  • In 1966, the year I graduated from College I bought my year-end Mustang Coupe-The last one in the Bronx. I cleaned and waxed the Signal Flare Red paint every weekend and kept the car as a family car.One day while waxing the car, my 4 year old son asked me if he could have the car when he grew up. I promised it to him when he had a little boy like him. Moving ahead 20 years, he was married, wife was six months pregnant and on my 50 th b-day I gave him the car. When Ford announced the retro Mustang I decided to do it all again and bought nearly to the day 40 years later a Torch Red-identical to the 66-convertible.My son has the 66 in Houston and it looks as good as the 2006. I know my Mustang I gave him has helped the wonderful relationship we have.
  • john500john500 Posts: 409
    I always avoid giving vehicles as gifts due to my lack of desire to read about tax laws. I suspect either the donor or the recipient must pay the tax, and it probably isn't a simple 5 or 7 %. My guess is that it is considered income to the recipient (kind of like winning a car on a game show). Anyone have experience with this?
  • I'm finding it very hard to obtain specific information on the internet. Basically, I live in California, and I want to buy my parents a new car. What are the tax implications of this? Is it settled at the dealership? On on income tax forms? I would like to pay the dealer and have the car registered to my parents from the beginning. Has anyone ever bought a car for someone else as a gift? Any help would be much appreciated. Thanks in advance.
  • hpmctorquehpmctorque Posts: 4,205
    Sorry about your wife's car accident, but, fortunately she suffered only minor consequences, especially compared with what could have happened. Nevertheless, it inconvenient to have to replace a solid, reliable daily driver that you like.

    Sorry for my ignorance, but what's a 7-up Mustang? I've never heard that term, and can only guess that maybe it's a 7-liter.

    Let us know how your story ends, and whether you get the Buick Century. Good luck!
  • steverstever Viva Las CrucesPosts: 40,850
    edited September 2010
    Did you check the California DMV site? It's pretty comprehensive, although I guess the tax stuff could be on a different agency site.

    (Hpmctorque, you're replying to a four year old post ;) Rocky still pops in though, so maybe he'll see it.)

    Moderator
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  • Mr_ShiftrightMr_Shiftright CaliforniaPosts: 45,050
    edited September 2010
    Well if the car is going to be in their name, then everything is settled at the dealership, yes. You pay all taxes and registration right there. Dealers do this all the time, with gifted cars, they know the drill.

    If you're asking about buying the car in YOUR name, then giving it to the parents as part of an estate or something, then you need to talk to a tax advisor.

    one nice way to do this is to just give them the key in a box and let them figure out the rest!

    VISITING HOST

    MODERATOR --Need help with anything? Click on my name!

  • michaellnomichaellno Posts: 4,300
    Several years ago, my FIL passed away. He owned a '91 or '92 Subaru Legacy wagon with 138K on the clock. Stick, PW, PDL, cruise.

    At first, my SIL wanted to take ownership since she didn't have a car. However, she didn't have a license - still doesn't, to this day. So, ownership transferred to my wife and I. I got it titled in CO (FIL was in WY), put plates on it and had plans to sell it.

    Then, I had the bright idea that my son, in CA, was graduating HS and could use a car. So, I promised him the car if he graduated - this was in February or March, IIRC.

    Well, June rolls around and the kid is ready to graduate, by the skin of his teeth. So, I drive the Subaru from CO to CA - 1100 miles at something like 30 MPG - and he's thrilled. Had to teach him to drive stick, but he got the hang of it. Got the title and registration in his name, got it smogged, the works.

    He drove the car for a year or so, then his mom's father passed and he inherited enough money to buy another car. So, he sells the Subaru to a close friend of his for, I think $800. She's still driving it to this day.
  • Generally people wont give auto as a gift. If they wish, they will gift two wheelers or car to their family members. This is a new thing I didnt heard before gifting auto.
This discussion has been closed.