Paying for use of partners car

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hardasoak

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In a relationship for a few years now. They had a car when I met them, I have never owned one. This last year I have been added to their insurance as a named driver and have been driving the car about the same amount of them. Maybe a few thousand additional km this last year but this will be substantially less next year. I have been paying half of the fuel, MCT, insurance etc.

My partner has asked me to pay 50% of the current market value, which I suspect is around c10k. I am not sure how I feel about this, as they are asking me to pay a substantial amount of money for something that I will not own. Would welcome peoples opinions on this.
 
hardasoak said:
In a relationship for a few years now. They had a car when I met them, I have never owned one. This last year I have been added to their insurance as a named driver and have been driving the car about the same amount of them. Maybe a few thousand additional km this last year but this will be substantially less next year. I have been paying half of the fuel, MCT, insurance etc.

My partner has asked me to pay 50% of the current market value, which I suspect is around c10k. I am not sure how I feel about this, as they are asking me to pay a substantial amount of money for something that I will not own. Would welcome peoples opinions on this.
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I would say you are looking for relationship advice and not financial advice.

Do you have a need for a car or is it just nice to have use of the car from time to time as.a named driver? If it is just nice to have then I would recommend that as.a named driver you would not pay half the running costs, half of the fuel, NCT, insurance etc. As you say your usage will be less next year.

So tell your partner no. Say no need to add you to the insurance next year, you don’t own the car, it is theirs and while it was nice to share the driving on long journeys etc it is not worth €10 to €15K to you. You would prefer to spend that money on taxis if you need car transport or rent one of those go-cars etc.

And then explore your relationship with your partner around assets and money. Try and understand are you true partners where you already pool all your money or is it that your partner sees a financial value in every interaction you have? Do you take turns paying for say a coffee out or do you split every bill strictly on usage, or do ye treat each other etc. Do you earn so much that €10K is simple for you to save and give away or would €10K wipe out your savings. Do ye both earn a similar amount or is there a big discrepancy? Do ye have the same financial goals for the future? Are ye jointly saving for a holiday perhaps?
 
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Don’t pay anything, ask them for lifts, they’ll soon add you back to their insurance or it will all come to a head. TBH sounds like a major red flag.
 
The car would remain in their name, don't do it. I would be very sceptical of getting that 50% back if they sold. Paying your share of running costs is fine. Paying for 50% of an asset you don't own is ridiculous.
 
It does sound a little strange.

What does your partner intend to do with this money?

If say they were looking to start a business and were using this as a way of raising capital maybe it's less of a concern (I'm trying to pay devil's advocate here) or is it just a money grab?

Do they actual want the money or do they just want you to use their car less. Is there a wider issue - from their perspective - about who contributes what in the relationship?
 
I read the first post differently than most posters,

1 hardasoak says he/she thinks car worth around 10K so 50% is around 5K

2 hardasoak appears to be saying each are doing around the same milage but hardasoak is doing maybe a few thousand extra miles and is share cost 50/50 they haven't said is present usage 40/60%
3 hardasoak appears to be saying they will be cutting back on the amount of miles the well be putting up on car next year we don't know if this cutback is to around 50/50 or 60/40% a reverse of present usage,
4 hardasoak and there partner appear to be not communicating well in there relationship so we don't know enough to be passing judgement There appears to be enough Misunderstanding without adding to it,

hardasoak you need to go back to your partner and trash out why they want you to share cost of asset and why you think you should not share it have you talked about ownership, are they thinking of getting rid of car or is there something else going on,
 
ClubMan said:
t to note that only one person can be named on the vehicle registration certificate so any agreement on shared ownership would have to be privately between the two people involved.
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I know So,
Has it been talked through to understand and resolve any known issues hardasoak may have,
 
As every relationship intensifies people have to begin to share resources financial and otherwise.

I think this needs to be seen in the broader context of where the relationship is and where it’s going.

Disagreements over finances are a common cause of breakdown too.
 
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