I am requesting your input on the following situation. We are now living with our daughter and son-in-law because we embrace communal style living. It is working very well. So far, we have done a nice job of sharing expenses. For the most part, they are 50/50 but there are exceptions. It is the car expense that I am seeking your input.
They brought a scooter and we brought a car to the relationship. 95% of the time, the scooter is used for commuting to work by our daughter. Since it has been used for their own needs, they have taken financial responsibility, such as gas and maintenance.
The car on the other hand is used about 90% for all of our benefit. We go shopping, go out, etc. We have been splitting gas 50/50 and when we do some maintenance, such as an oil change, I expect that will be 50/50 (it hasn't happened yet). Since it is early in our living arrangement, this has worked so far. The other 10% of the car use seems like a 50/50 split between the couples for using the car for personal things.
As for the car, it is a 2009 Chevy Malibu with just under 40,000 miles when we moved in together. It cost about $18k new. It seems to be running OK.
My question revolves around the repurchase of a car when required and longer term maintenance requirements. I do not need or want them to purchase a portion of this car. I think this will make things easier if our living arrangement does not work out. I am more interested in financial support when I need to replace this car and to do the fairest thing when longer term maintenance is required since we will be adding a lot more miles than when we drove the car prior to the arrangement.
With all this in mind, how would you recommend a financial sharing program that would be fair for all of us?
Please let me know if you need more information.
Thanks
They brought a scooter and we brought a car to the relationship. 95% of the time, the scooter is used for commuting to work by our daughter. Since it has been used for their own needs, they have taken financial responsibility, such as gas and maintenance.
The car on the other hand is used about 90% for all of our benefit. We go shopping, go out, etc. We have been splitting gas 50/50 and when we do some maintenance, such as an oil change, I expect that will be 50/50 (it hasn't happened yet). Since it is early in our living arrangement, this has worked so far. The other 10% of the car use seems like a 50/50 split between the couples for using the car for personal things.
As for the car, it is a 2009 Chevy Malibu with just under 40,000 miles when we moved in together. It cost about $18k new. It seems to be running OK.
My question revolves around the repurchase of a car when required and longer term maintenance requirements. I do not need or want them to purchase a portion of this car. I think this will make things easier if our living arrangement does not work out. I am more interested in financial support when I need to replace this car and to do the fairest thing when longer term maintenance is required since we will be adding a lot more miles than when we drove the car prior to the arrangement.
With all this in mind, how would you recommend a financial sharing program that would be fair for all of us?
Please let me know if you need more information.
Thanks