A young Canadian couple is wrestling with a big decision after being handed the keys to a 2023 Jeep Wrangler worth over 50,000 Canadian dollars ($36,000). The couple, currently living debt-free on a modest income of CA$35,000 per year, is unsure whether to keep the car or sell it to boost their house fund.
Gifted A Jeep, But Saving For A Home
Scott from Edmonton, Alberta, called into “The Ramsey Show” for advice. He’s a plumbing apprentice while his wife stays home with their 5-month-old son. They’re renting and saving for a down payment. A generous 96-year-old family friend recently gave them the Jeep, which he himself had inherited from a late friend’s estate.
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“We’re debt-free completely. We have a great renting situation, and we’re just saving up for a down payment on a home,” Scott explained. “We just wanted to get some wisdom on this vehicle that we’ve been given.”
Personal finance expert Dave Ramsey didn’t hesitate with his financial advice: sell it. “Not counting the moral dilemma, I would sell it and buy a $20,000 car and put $30,000 in the bank,” he said.
But Scott brought up the emotional complexity of the gift. He said he believed the older man wouldn’t have given them the car if he knew they’d sell it. The man was a friend of Scott’s father, and the father is leaning more towards keeping it and driving it for the next 15 years. Co-host John Delony acknowledged the tension but cut through it with a bit of humor. “That’s awfully optimistic with a Jeep,” he said, reacting to the idea of driving it for so long.
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Ramsey suggested the couple meet with the older man in person and have an honest conversation. “Say, ‘Hey, I got little babies, a wife. We need a house more than we need a car. This gift is incredible. I want to honor you and thank you for that,’” he said. Then, ask for his blessing to sell the vehicle.
Delony chimed in, saying that one of the most meaningful things a young person can ask an older person is, “Can I get your wisdom on something?”
Ramsey also emphasized that a gift shouldn’t come with expectations. “A gift with this many strings attached is not really a gift,” he said.
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If the older man insists they keep the Jeep, Delony advised respecting that wish. But he doubted the man would take offense. “If it was a car that somebody else gave me because they passed away and now I’ve got it and I’ve got about 30 minutes left on this life, I would say, ‘Bro, get yourself a house. Take care of your babies.’”
“I think most people would [say that],” said Ramsey. “Except apparently your dad, but your dad’s like wrong.” In the end, Ramsey and Delony both leaned toward Scott having the conversation and likely selling the Jeep to help build a more stable future.
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