I let a friend borrow my car.what should i charge for mileage reimbursement?

Question

I let my friend borrow my car for 4 months.she agreed to reimburse me for mileage.i cannot use the government reimbursement rate because she has paid for the gas and upkeep on my car during that time. how much should i charge her per mile? she has put 20000 miles on my car in the last 4 months alone.

Answer 1

With a friend like that, who needs enemies? I'd say that is a terrible abuse of your friendship and she should be ashamed of herself. All the comments made so far have been very valid and good points. You could take any of the advice provided so far.

20,000 miles should only have been driven in about 2 years, not 4 months. That is absolutely absurd. I would think she owes you at least $2,000 for the wear and tear and depreciation in the value of the car. Our government rate here in Australia would see her owing you $22,080, so you figure it out.

The most important piece of advice is to learn the valuable lesson of not doing this EVER again. You are only hurting yourself and by extension, your friendship.

Answer 2

My Friend, you are stuck with very little to do since there is no contract.  for your car value, drive it very little for the next two years and the value should be where it Belongs in the Mileage versus year/model/make in the Kelly blue book stand point.  $500.00 should cover you and do not make this mistake again.

Answer 3

Perhaps your should have defined the conditions, including the cost per mile BEFORE she borrowed it. That's what most people do.

Answer 4

4 months of car payment

Answer 5

What has the excessive mileage done to the value of the car?  Charge a %age of that amount.  

This is something that you should have negotiated before letting her borrow it.  Did she know that she would be putting that many miles on?

Answer 6

yes,  she put alot miles,25cents a mile,

Answer 7

Check with a car rental and ask what the mileage charge is for miles over free daily miles. You should have agreed to the amount before loaning car. Take the governments figures and divide by 2. The wear and loss in value for mileage has to be considered also. Next time think twice before loaning your car.

Hope this helps

Answer 8

I'd say HOLY c**p!!!!! I don't want her as my friend. Charge her ALOT so this never happens again.

Answer 9

I'd say at least 10-15 cents a mile driven, which works out to 2000-3000 dollars.  Me?  I'd say at least 3000, especially considering you've been without your car for the past 4 months.

That's a typical charge on a lease for miles driven over the predetermined limit.  It basically covers depreciation on the vehicle for the additional  miles.

Answer 10

So long as she has paid for gasoline and upkeep while she had the car, I think what might be reasonable is to have the car go to the dealer for its next scehduled checkup and have her pay for that.

That way you get the car back in certified good running condition.

Answer 11

What about charging the difference in $ between what the car would be worth per bluebook value now, versus if it had 20,000 fewer miles on it at this time per the same bluebook?