WWYD: Car accident (edited with more info)

Someone gifts you a car, signs it over to you free & clear. Old car but decent & runs. Good station car.

You drive the car for 8 months.
Get into a car accident & the car is considered totaled. No one is hurt.

Accident was deemed 95% the other person's fault so their insurance is picking up the cost.

The insurance company offers you $2500.

Do you offer the person who gave you the car the money from the accident?

Edited to add:
My dad gave me his old station wagon. We already had 3 cars but the idea was to keep his old wagon & sell DH's old wagon (don't worry I'm rolling my eyes too that both men in my life cherish station wagons for lugging lumber & band equipment). Before we could sell DH's old wagon, some guy plowed into him & my son in the new wagon, totalling the car.

We don't need another car but I feel bad not offering my dad some money. He could have sold his car instead of giving it to us. I'm thinking DH thinks the money is totally ours.

Message edited 5/10/2011 1:55:33 PM.

Re: WWYD: Car accident

I can't see any possible reason you'd owe the other person any money.

Re: WWYD: Car accident

I answered the money is mine-but that's assuming I would need to buy another clunker to replace that one?

If not, then I don't know. Maybe split it? My moral compass is spinning right now.

ETA: Now that I'm thinking about it, you insured it, took on the risk/liability of driving it, etc so I guess keep the money.

Message edited 5/10/2011 1:23:28 PM.

Re: WWYD: Car accident

Posted by InShock

I can't see any possible reason you'd owe the other person any money.

Re: WWYD: Car accident

I wouldn't give the other person any $. The car was gifted, no longer theirs.

Re: WWYD: Car accident

Posted by MrsPJB2007

Posted by InShock

I can't see any possible reason you'd owe the other person any money.

Ditto

You owned the car and drove it for 8 mos -- why would you feel you need to give money to the person who signed it over to you?

I'd keep the money and use it towards my next car purchase.

Re: WWYD: Car accident

I don't see why you would need to give any of that money to the person who gave you the car 8 months ago.

They gave it to you. I am assuming that there was nothing expected in return. You used the car for 8 months, paid for gas, insurance, maintenance. I would say the insurance money is yours.

Re: WWYD: Car accident

I don't see why you would give them money for it. It was your car once they gave it away to you and you were using it. And now you need to replace your car.


NOW... had they given you a car and you just donated it without using it for tax credit, or turned around and sold it without using it.... then I'd say perhaps offering some money would be the morally correct thing to do.

Re: WWYD: Car accident

the money is yours.

Re: WWYD: Car accident

it's yours!

Re: WWYD: Car accident

unless there was an understanding that you would give the car BACK after a certain period of time, then the $'s yours!

Re: WWYD: Car accident

Why? They gifted you a car. You could have sold it the following day and kept that money. Why would you have to share that money at all? You use it to buy a new car. They obviously gifted you a car with the intention that you have a car, so how does giving them part of the insurance proceeds accomplish this?

Re: WWYD: Car accident

I would keep it.

Had the car broken down, would you expect them to pay half the bill?

Re: WWYD: Car accident

your money. If you had an accident and needed to lay money out would you ask them for half?

Re: WWYD: Car accident

its considered totaled, but are you keeping it?
If not, I'd maybe give half to the person who gave it to you. I'd feel bad otherwise

Re: WWYD: Car accident

The car was given to you, the money is yours.

Same thing happened to DH right before our wedding. A family friend gave him a car, we got into a bad accident (not our fault) and he got money, he used it for a new car. No one even questioned who the money should go to.

Re: WWYD: Car accident (edited with more info)

The car was mine at the time of the accident, and presumably I'm the one who will now be responsible for buying myself a new vehicle to get around in... so it's my money.

ETA: Having read your update, that changes things a little. I agree with your DH that the money IS yours, but since you're not getting a new car, I don't think there'd be anything wrong with splitting the money with your dad if that's what you guys decide.

Message edited 5/10/2011 2:11:12 PM.

Re: WWYD: Car accident (edited with more info)

Unless your dad is hurting for the money, i still dont see why you should give it to him...

Re: WWYD: Car accident (edited with more info)

Even with more info -- I still don't think you need to give any money to your dad.

The car was yours for some time.

It's not as if you would have expected him to contribute to car repairs if you needed to fix the car at some point....so why give him money if you were the owner of the car for almost a year? I'd be okay keeping the moolah.

Re: WWYD: Car accident (edited with more info)

I'm in the minority but I would offer the money to your dad.

Re: WWYD: Car accident (edited with more info)

With the new info, I say take your Dad out to dinner on the car's dime so to speak. The rest is yours.

Re: WWYD: Car accident (edited with more info)

I *think* I would offer your dad the money and see what he says.

Re: WWYD: Car accident (edited with more info)

If you are using the $$ to buy a new car, then use it and call it a day. However, since it is your dad, if you are not buying a new car, I'd probably offer him the $$.

Re: WWYD: Car accident (edited with more info)

if you were paying insurance on it keep the money

Re: WWYD: Car accident (edited with more info)

I don't think you HAVE to give him money although it would be a nice gesture. I know that even if I did offer my parents the money they probably wouldn't take it anyway. I honestly can see either keeping it or sharing it. I don't know that there is a right or wrong answer. Do what you feel is best.