Real life MMD: Should I share the profit with my mum?

birkee

M & D have shown love and kindness, and I'm appalled at responses that use the terms like "are not obliged" and "do not owe" from other posters.
It's a case of responding to love and kindness with love and kindness, even if M & D don't want the money from selling the car.

I think money saving has got to the point that people would even be prepared to take advantage of M & D, which means that the next generation are NEVER going to know the love and kindness of M & D.
More old fashioned standards bite the dust. Love and kindness replaced by a calculator!

Take it to the next level ! ...... Mum and Dad give you a bill to cover the cost of raising you.

cathy1969

I think you sould offer all the money to your parents then it is up to them if they only want back what you owe.:j

Pellyman

As you are considering accepting your Mother's offer I assume her car is more preferable to yours. If so then you may probably be in a position to repay the balance of the loan, but you may be in for a shock when you find out how much yours car has depreciated in twelve months. There may well be no real 'profit'!

Hope there is, but only when you have calculated how much the profit is will you know if you have a 'dilemma'. Like most 'family' difficulties posted here the usual answer is a 'family discussion'. You've asked us; so why don't you tell your Mother what you have told us and explain (if there is a profit) that you think she should have it. Odd's are she will say "Don't be silly".

One thing for sure - she will certainly appreciate your consideration and any 'brownie points' earned wiith parents are worth their weight in gold.

taxing

Do you really need to ask....what a pleasure of a 'child' you must be.

Unlikely she will accept but shouldn't you at least offer..

JayD

I am totally confused as to how - after having repaid the full amount you borrowed from your parents to buy your car - you expect to make a profit from the price you sell it for. Maybe you just think you can sell it at that estimated price and reality will prove that there is no profit to share/give or keep at all. In my experience, cars lose money the longer you have them - they depreciate - not the other way about.

However, if by some strange reversal of the normal market trends you do make a profit, then I agree with all of those before me who suggest you should give your parents half.

It seems an odd arrangement that you would sell your car, drive your parent's car and happily hand it over for them to drive anytime they visit. I can't see that arrangement working at all! But hey, it is your family and your agreement, so good luck with it.