Friday, July 31, 2015

$5,000 Problem

This, of course, will be touched in the comic:

My brother decided that he wanted to get a better fuel efficient car than his old truck. We agreed to help him with this endeavor. Having purchased three cars since getting married (two of them used) we have a lot more knowledge than my brother on the subject.

While I was at work and my husband was working with my father to get the title to the truck, my brother sneaked off with a bill of sale and traded his truck for a car...which promptly broke down within five miles of the previous owner's house.

Since the events were not under the control of my husband or myself, we were unable to get the previous owner to trade back.

Truck's value: ~$7,000 (parents bought for $12,000)
Car's value: ~$7,000 asking price, <$4,000 Kelly Blue Book Value

So, from the offset, my brother lost $3,000 from the get go on that since he traded vehicle for vehicle.

The car he got not only broke, but was spewing out black smoke and the tires were worn down to the treads. Despite this, a mechanic buddy of brother offered to buy off the car quickly. The offered price was $2,500.

So, for a $7,000 truck, my brother is getting $2,500. A loss of $4,500. Someone is going to be taking to bus to school.

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