$20,000 gift for new car

[IndyFetch]

Originally Posted by *************

Patching? How is spending a few grand on an older car be considered "patching"? There are only so many things that can go wrong with a car and if the car has never been in a wreck, all you're doing is replacing wear items. If you're doing the work yourself, you could fully restore a car with just $1000.
....
If I were in the OP's position, I'd rather save the $20K and use it for something far more useful than a depreciating asset like a car.

I think it has been well-established that he's getting a car, not cash.

Newer cars do have quite a few advantages over old ones, such as warranties, comfort/convenience features, safety features, etc. Perhaps his parents want him to be safe (imagine being T-boned in a CX). Or maybe his parents just want him to get a 4-door in the hopes he will bring forth grandchildren (as my in-laws would say). Who knows why he's getting the gift of a car, but he's getting one; not cash. It would likely be considered rude for him to haggle over the type of gift. It seems very generous to me.

[imzjustplayin]

Originally Posted by schuylkill

The reason I'm keeping the EX tranny is reliability, it still pulls a ton. I like to work on my car but not when stressed out because I don't have a backup car and that is exactly what happens when doing major work with a short time frame. I won't get money, just a car. An Elantra mt with air (something I don't have now) for $16,600 or thereabouts I feel is a good deal. I will be keeping the cx for winter and to keep the miles down somewhat on my new car. At 60 mph I am at 2550 rpm (ultra-gauge, no tach on the cx.) I also have a 1991 LX which my sons drive. (129k right now.)

You're already a dad? How old are you and your parents?

Originally Posted by Fetch

I think it has been well-established that he's getting a car, not cash.

Newer cars do have quite a few advantages over old ones, such as warranties, comfort/convenience features, safety features, etc. Perhaps his parents want him to be safe (imagine being T-boned in a CX).

yes I can imagine, I imagine the crash wouldn't be that bad considering it was rated 3 stars in side impact despite no side airbags.

[schuylkill]

I'm 58 and my parents are 83 and 84. My sons are 18, 21 and 24. Quite a crew, eh? I bought the cx new for $11300. I think it was.

[imzjustplayin]

Originally Posted by schuylkill

I'm 58 and my parents are 83 and 84. My sons are 18, 21 and 24. Quite a crew, eh? I bought the cx new for $11300. I think it was.

This makes absolutely no sense.. Your parents shouldn't be buying you anything because they need that money for retirement and financial stability. The important question you should ask yourself is if this was actually your money, would YOU be buying the car. Your parents are inadvertently relying on you for financial support if and when things go south and so this isn't a "free" $20K because when they need financial help for what ever reason, you'll be the one paying for it. Your parents have no business throwing money away by "gifting" it to you because in the end, you're the one that will have to pay for everything if and when they run out of money or some large unexpected expense comes and hits them smack in the face. Since you've had this car for this long, I'd have to assume that you didn't buy a $20K car because you don't just throw money around.

Based upon the limited information I have about your family's finances, I can only infer that this idea is fiscally irresponsible. If you don't believe me, go watch an episode or three of the Suze Orman Show on CNBC 6/9PM Saturday nights or better yet ask this question on a site like fatwallet.com This situation you're in is actually pretty common and so my answer is just as generic.

[FrugalFloyd]

Get off your high horse, IJP. The OP didn't ask for your judgmental proclamation on a situation you know nothing about. I've given my daughter 6 cars, & my son 2. It's none of your business why I did it, or whether they needed or deserved the cars. And it's absolutely ridiculous of you to say his parents or I "have no business throwing money away by 'gifting' it to" their/our children.

[IndyFetch]

Originally Posted by SentraSE-R

Get off your high horse, IJP. The OP didn't ask for your judgmental proclamation on a situation you know nothing about. I've given my daughter 6 cars, & my son 2. It's none of your business why I did it, or whether they needed or deserved the cars. And it's absolutely ridiculous of you to say his parents or I "have no business throwing money away by 'gifting' it to" their/our children.

Amen

[IndyFetch]

Originally Posted by *************

You're already a dad? How old are you and your parents?


yes I can imagine, I imagine the crash wouldn't be that bad considering it was rated 3 stars in side impact despite no side airbags.

That's 3 stars by mid 1998 standards. I believe standards have gotten much tougher in the intervening years...

[Fuel Miser]

Hyundai Takes a Bold Stand in the Compact Race
Feb. 26, 2011

The Elantra is, on paper, pretty much unbeatable for the money.

Except for the fact that it's not particularly fast, the Hyundai Elantra is a bullet, and that bullet just whistled past Ford's head. Or maybe grazed its skull. Hyundai's freshly redesigned compact sedan?handsome, roomy, richly detailed and stacked to the rafters with standard and optional amenities?would be the best car in its segment (among cars such as the Honda Civic, Toyota Corolla, Chevy Cruze and Volkswagen Jetta), but for the inconvenient existence of the 2012 Ford Focus. The Focus outpoints the splendid Elantra, but by a margin that makes Bush-Gore in Florida look like a landslide.

Lots more: http://online.wsj.com/article/SB1000...tos_LS_Autos_4

[Fuel Miser]

Motor Trend
First Test: 2011 Hyundai Elantra

Claim Jumper: Hyundai's Elantra Muscles in on the Class Leaders

January 04, 2011 / By Scott Evans

The Nu engine is a nice piece, delivering smooth and linear power all the way to redline without ever sounding overworked. Hyundai's new, in-house-built six-speed is just as impressive, with smooth upshifts and well-chosen ratios, though it occasionally balked on downshifts. A six-speed manual is available, but with its vaguely defined gates, manually shifting the auto was almost more fun. Hyundai is eager to point out that regardless of transmission or model, the Elantra will return 40 mpg highway...


A starting price of just $15,550 is something else the Cruze can't say, nor can any other car in the segment. Even those that meet the Elantra's fuel economy numbers can't touch its base price.

Hyundai's price advantage is erased when you pack on options like air-conditioning, cruise control, and an automatic transmission.

But while it's got the price to beat the Cruze, the fuel economy to beat the Mazda3, and the style to beat the Kia Forte and the milquetoast Corolla (even post-face-lift), there's still the small issue of the sporty new 40-mpg Ford Focus on the way, and the refreshed Honda Civic waiting in the wings. There's precious little time, then, for the Elantra to upend the compact segment before it gets a lot more competitive.

There's more: http://www.motortrend.com/roadtests/...est/index.html

[imzjustplayin]

Originally Posted by Fetch

That's 3 stars by mid 1998 standards. I believe standards have gotten much tougher in the intervening years...

Sorry, doesn't work that way.. You're not the first to think that.. Star ratings from different years and IIHS crash test ratings from different years directly comparable within the vehicle class.. You can't accurately compare the 5 star rating of a subcompact with an SUV but you can compare the 3 star rating of an 80s full size with the 5 star rating for a '00 full size..

Originally Posted by SentraSE-R

Get off your high horse, IJP. The OP didn't ask for your judgmental proclamation on a situation you know nothing about. I've given my daughter 6 cars, & my son 2. It's none of your business why I did it, or whether they needed or deserved the cars. And it's absolutely ridiculous of you to say his parents or I "have no business throwing money away by 'gifting' it to" their/our children.

High horse? How about facing reality and being practical instead of just looking at things as simple "gifts". It seems it's hard for you people to look past this as a simple gift but you need to because not doing so could mean financial turmoil sometime down the road.