View Single Post
      03-05-2006, 01:56 AM   #17
sdorn's Avatar

Drives: 2006 Jet Black 325i
Join Date: Feb 2006
Location: Atlanta

iTrader: (0)

If your parents gave you the money, then there is no issue. Each one of your parents can give you a gift of up to $11k per year (that was the number as of 2005, it might be higher now) for a total of $22k per year with no tax consequences. You can give it to the car dealer in cash or by check, and even if the IRS asks where it came from (which they probably won't) you can just say your parents gave it to you. No big deal.

I would bet that with a 50% downpayment and any job where you can show you make enough to make the payments, you are going to be just fine.
2008 Sparkling Graphite 535i
2009 Land Rover LR2
2003 Porsche 911 Turbo (SOLD)
2006 Jet Black 325i (SOLD)
2001 Bullitt Mustang (450rwhp - SOLD)

Last edited by sdorn; 03-05-2006 at 06:01 PM.