How can I buy my grandparent's car for the least amount possible to avoid it being taken by the state?
Question Details:
We live in IL and the nursing home wants every cent possible.My grandparents have been depleted of most resources. The powers to be have been pressuring my aunt and mother to give all information and any finances to them before the state starts paying everything.
The key is for you to be able to show what is known as an arms length transaction. In other words, you did not receive a break from your grandparents in the price that you pay. Go to Edmunds, Kelley Blue book or NADA ( National Automobile Dealers Association online and pay the least amount listed for a vehicle in the condition that your grandparent's vehicle is in. Doing so would show an arms length transaction and be acceptable. You can also see what other vehicles that are similar are going for locally on Crais List or your paper. Be sure to keep copies of the information that you use for deterimining the price. Good luck.
