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Should I Sell A Gift From My Uncle? - Family - Nairaland

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Should I Sell A Gift From My Uncle? by Symphony007: 8:55am On Sep 15, 2013
Hello guys, i need your views on something...recently i turned 18, so i'm now eligible to drive, i have an uncle who is very dear to me and always promised to buy me my first car. While he was in nigeria, he taught me how to drive when i was 16, and said it would really gladen him to buy me my first car, now i'm 18 and someone more special got me a car first, my dad..he bought me a toyota highlander and i was very gratefull to him, then my uncle sent me a toyota corolla from the u.s, now i really love my uncle but there is no way i will choose his gift over my fathers. I have been using the highlander all this while but recently, it has occured to me that rather than leaving the corolla to waste away, i should sell it, i am a student, and i really need the cash. But i'm so worried how heartless it will be for me to sell such a sentimental gift from someone who loves me so much. Do you think i should go ahead and sell? Does it really matter?

Re: Should I Sell A Gift From My Uncle? by EfemenaXY: 9:00am On Sep 15, 2013
Why sell it?

You're a student so be inventive man! How about hiring it out for a fee, as an extra source of income to you?

You're lucky to have two cars to yourself at your age - so be a smart businessman! smiley
Re: Should I Sell A Gift From My Uncle? by Symphony007: 9:09am On Sep 15, 2013
Efemena_xy: Why sell it?

You're a student so be inventive man! How about hiring it out for a fee, as an extra source of income to you?

You're lucky to have two cars to yourself at your age - so be a smart businessman! smiley
i know what you mean but buisness and school has been not been the best of combinations for me. Once i used some of my scholarship money to form a oartnership with some friends to open a barbing salon on campus. Things went very wrong. Profits went missing. Mutual distrust amongs us and the time i would have been reading or in class, i'm busu protecting investments. The buisness packed up and since then i told myself, no more buisness while in school, or if the circumstances were better.
Re: Should I Sell A Gift From My Uncle? by EfemenaXY: 9:18am On Sep 15, 2013
Symphony007: i know what you mean but buisness and school has been not been the best of combinations for me. Once i used some of my scholarship money to form a oartnership with some friends to open a barbing salon on campus. Things went very wrong. Profits went missing. Mutual distrust amongs us and the time i would have been reading or in class, i'm busu protecting investments. The buisness packed up and since then i told myself, no more buisness while in school, or if the circumstances were better.

From the little you've typed here, it's easy to see that you broke a couple of fundamental rules:

~ Business: When in business, you have no friends! Business and friends don't mix. Not even with family members. You have to be ruthless and strict. No sme-sme or feeling sorry for folks. You also protect your capital at all costs! Whatever profits you make, you can re-invest into the business to ensure growth. Hope you've learnt from that experience.

~ School: You never should have touched your scholarship funds to start with. You got them on the basis of being hardworking and gifted (at least, that's how it used to be in my time and my parents' time). This was meant to ease your stay at school so you focus squarely on your studies without financial distractions.

Giving your car out on hire purchase shouldn't require that much from you - not sure how it works in Naija. But if you were interested, meeting up with someone experienced in that field should give you a few pointers. One is never too young to develop a good business sense. I'd rather use money to make more money, but if you want to focus squarely on your studies, then do that too.

All the best!
Re: Should I Sell A Gift From My Uncle? by domack99(m): 9:30am On Sep 15, 2013
You can sell the car abeg, definately you can't maintain two cars since you are not working.
For those telling you to use the car for business, if your story is true, then its obvious you are from a rich background, i don't see the car generating as much monthly income for you as you may need putting Nigeria factor into this. Instead sell the car and use the money for a bigger investment if you know what i mean
Re: Should I Sell A Gift From My Uncle? by kenjudy(m): 11:09am On Sep 15, 2013
O boy if u really are serious about seeking opinion and not showing off, then I suggest u let ur uncle know about it first. because as it is, some people like me won't find it funny to hear sm1 sold a gift I wilingly gave him/her for whatever reason without letting me know about it even tho it shouldn't be any of my concern anymore. While to some it's none of their business what u make of it (individual differences), and u know ur ppl better. But yet, imo, I'll suggest u let him (ur uncle) know. Maybe, just maybe he'll even be willing and ready to maintain it for u, u nvr know. My one cent tho. As for people suggesting using it for cabu cabu or renting, no even think abt am cos u won't recognize ur car after two months. U feel me?
Re: Should I Sell A Gift From My Uncle? by EfemenaXY: 11:20am On Sep 15, 2013
kenjudy: O boy if u really are serious about seeking opinion and not showing off, then I suggest u let ur uncle know about it first. because as it is, some people like me won't find it funny to hear sm1 sold a gift I wilingly gave him/her for whatever reason without letting me know about it even tho it shouldn't be any of my concern anymore. While to some it's none of their business what u make of it (individual differences), and u know ur ppl better. But yet, imo, I'll suggest u let him (ur uncle) know. Maybe, just maybe he'll even be willing and ready to maintain it for u, u nvr know. My one cent tho. As for people suggesting using it for cabu cabu or renting, no even think abt am cos u won't recognize ur car after two months. U feel me?

grin grin grin

That's normal and goes with the territory. The point being made is that he uses it to generate some sort of income for himself (no matter how little), rather than depend on the bank of Mum & Dad for everything.

Look at it as small baby steps on his way to independently managing his finances, rather than selling up and blowing the money on some inconsequential stuff.

Get my drift?
Re: Should I Sell A Gift From My Uncle? by RoyalRoy(m): 11:25am On Sep 15, 2013
Efemena_xy: Why sell it?

You're a student so be inventive man! How about hiring it out for a fee, as an extra source of income to you?

You're lucky to have two cars to yourself at your age - so be a smart businessman! smiley

Shikena.

Be smart!!
Re: Should I Sell A Gift From My Uncle? by Nobody: 11:44am On Sep 15, 2013
Poster it depends on where u r living, but I tell u, d first poster gave u tips pple r willing to pay for free.
That u didn't succed in ur first biz venture does not mean u won't continue.
R u afraid? Biz is all about risks. No comfort zone. C what pple r praying for in ur grip and u hv already developed cold feet.
I never know that hiring cars like that can be quite expensive.
I hired one from Abuja to onitsha last three yrs 55 thousand naira to and flow.
And I tell u, ur uncle will be very proud of u if after two yrs or so u tell him this is what his gift generated for u.
World billionnaires start off this way.
Unless u want to steal govt money.
Re: Should I Sell A Gift From My Uncle? by veave(f): 1:52pm On Sep 15, 2013
why not start a car hire service to people who would be needing it. charge per hour. i could help you make posters for it @ a small fee you knowcheesy
Re: Should I Sell A Gift From My Uncle? by Nobody: 4:29pm On Sep 15, 2013
Hello everybody!!! The poster says he cannot combine school and business. Going by the facts he has stated whatever profit he will make in a month leasing that car out may not even be remotely close to the amount he earns as pocket money. So what is the point attempting something he is sure is not gonna work out.
The best advice has been given and that is for you to inform your uncle about the situation before you sell the car. I am sure he will see reasons with you.
Whenever you are done with school and feel the kinda work you wanna do is to run a ABC transport-like business then you can always do that.

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