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30 July 2009

AskMeCha: Fair "rent" for borrowing a wreck?[More:]
We sold a tenant our old 1997 Chrysler Concorde when a ball joint failed and it needed more body work than it was worth (besides, it was a lemon from the day we bought it used around 2001). The guy paid us $350 for the car and did the work himself. Fair enough.

Then we needed a car when our van went wonky, and he and his mom lent the car back to us for 12 days. Now, I would like to pay him a fair price for this. But this would come in the form of a credit against back rent. In effect it almost doesn't matter, since it isn't cash, so I can be generous, and I'd like to create an incentive that the money owed to us can be whittled down, but what would be appropriate?
$200 is the figure that popped into my head.
posted by deborah 30 July | 20:52
Maybe check what renting a car for 12-14 days would have cost you? Enterprise (chosen randomly because it was the first rental company that came to mind) is showing that renting a car 8/1 through 8/12 would be about $400-450 per week, or about $1000 total. So if you're looking to be really generous, you could use that for your accounting.
posted by occhiblu 31 July | 00:22
Or, maybe more relevant, Rent-A-Wreck is $182/week for an intermediate (at least when I plug in San Francisco). You could probably fiddle with that, either on the site or in your head, to get close to what you think is the right total.
posted by occhiblu 31 July | 00:26
Yeah, Rent-A-Wreck sounds like a nice comparison (they're not actually wrecks, dear readers, just Hertz or Avis outcasts a year or two older). The nearest non-urban location is Quincy, Illinois, which quotes $17/day and $196 for the whole 12 days, so deborah's $200 is just about right, I think.

Thanks!
posted by stilicho 31 July | 14:43
Yay, I win!
posted by deborah 31 July | 19:31
Hee.
posted by occhiblu 31 July | 20:02
Bunny! OMG! || Mark your calendars, Aug 4

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