What's a fair deal when selling a car to a cousin? We will get the dealer's

[applegrove]

offer tomorrow. Should we sell it to my cousin at the price the Toyota dealership is offering us tomorrow or should we up it by a few thousand? What would the dealer's markup be? I kinda want to split the difference with said cousin so it is a good deal all the way around.

[redwitch]

1. I take it this is not a close cousin?

Why not give them the same deal you would give the pros at the dealership?

[applegrove]

2. That is what we were going to do but my cousin tonight insisted he would

up the deal a little more because he thinks the dealership will rob us. He's too generous a guy. I want to be sure we are both getting a good deal. I just have not idea how much over the dealers offer would be the sweet spot for both of us. I don't want to take advantage of said cousin. Is a 2002 Toyota Highlander with only 47,000 miles on it.

[redwitch]

5. Check local classifieds and compare prices.

You will find a good compromise. Good luck!

[triguy46]

3. My advice is never sell or buy a car to/from friends, relatives or coworkers.

If you don't give a sh* for your cousin then go ahead. But in general business should be arms length.
Giving is one thing, but a business deal with family is asking for hard feelings.

[elleng]

9. Can be done well and fairly;

have bought cars from coworkers and neighbors.

Checking blue book/carfax etc is also good idea.

[GreenPartyVoter]

4. Our family sells cars to each other for a dollar. Obviously it's about

legally transferring ownership and not making money in that case. :)

[UTUSN]

6. Never good to do business with relatives or friends. n/t

[Iggo]

7. All deals with family should be at or below cost.

In other words, and to be clear...NO PROFIT INVOLVED.

[gmoney]

8. let him have it for the dealer offer, but he owes you a couple favors :)

Like if you have to move, or paint your living room or something, he can come over and help. Or watch the kids, or whatever is appropriate.