Is it ok to accept an expensive car from the in-law?
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Anonymous
| I wouldn’t accept it...seems like a bribe |
Anonymous
| ^^though, I can buy any car I want. |
Anonymous
| How wonderful! What a nice man. Of course, I would accept. It is a gift, he loves you. Lucky you! |
Anonymous
| Just take the damn thing. |
Anonymous
|
Many questions come to mind:
1) What does your husband think you should do? This is his father, and he may have opinions on whether this comes with stings attached, whether it will upset a dynamic, etc. 2) Do you actually like the car? Will you use it? Are you able to maintain it? 3) Is there something else of similar value that you actually need significantly more? For instance, do you still have any student loans or other debts left to pay off? Would he be open to you suggesting he contribute the money to that instead, if it's the case? 4) Depending on the answers to the first 3 questions, is it even possible for him to return the car for what he paid for it at this point? I've only ever bought used vehicles so I don't know what the deal is with a new luxury car. |
Anonymous
| Unless he is particularly controlling, take the car. It’s his money, he can afford it, and this is how he wants to spend it. As to others who who have said to ask for something else, it’s a gift, not a shopping mall. |
Anonymous
| I’d accept it, assuming the relationship is good and there are no strings. |
Anonymous
|
He should have asked you what you would like rather than just buying it for you. It’s certainly ok to accept it but it’s pretty dumb on his part to assume it is a car that meets your needs.
The IRS would love to know about this as the gift exceeds the $15,000 limit. |
Anonymous
|
A couple of thoughts (that are contradictory):
1) Are they any strings attached? Any gift from my parents have string....I do not take anything. 2) Is it just that his parents want you to have safe, comfortable cars? If so, and no strings, enjoy. 3) I wish someone would buy me (@55, middle class with sub-200K HHI) a nice luxury car. |
Anonymous
| I would accept it if my husband was ok with it. I’ve had one before, they are very nice cars and drive like a dream. |
Anonymous
|
No, I wouldn’t.
You have to pay taxes on it. That kind of car would look completely ridiculous in front of my house. Is this in addition to a generous and reasonable estate plan or just random possibly money laundering weird gifting of cars? |
Anonymous
| I would accept it and say thank you. |
Anonymous
That’s not a problem as there are many ways, all legal, around that issue. The lifetime exclusion rule is one solution. |
Anonymous
|
I would be angry he presumed to buy me a car, but I would accept because fighting about it never helps (my parents give me furniture). You can sell it in a couple years if you want.
You could refuse it, and deal with the fallout, but you can't ask for something different. I thought this post would be about him giving you his old car when he upgraded or no longer needed it, which yes is fine. |
Anonymous
| Assuming he is a nice, normal person, say thank you and be grateful you have a lovely FIL who loves you. |