I have a situation where my grandparents are looking for a used car to haul my grandfather around easier. He's 6'4, 290 lbs, 84 years old and is on hospice due to lung cancer. He has limited mobility and uses a motorized chair to get around.
They're planning on buying a second car and are hoping to find a cheaper car (under $3,500) that would be easier to move him around in, while allowing for easier storage of chair (it breaks down and can be put in the back of the car). They're looking at a Scion XB with 129,000 on it in that price range. Their normal car, is a Chrysler 300 the bought new a few years before he went on hospice in early 2016 and they are currently upside down on the loan. I can't get much more detail this morning but they're a little over 2 years into a 7 year loan.
My mother is trying to help them understand their financial situation and. is hoping to use my grandfathers life insurance policy to pay the Chrsler loan after he passes.
I guess my question is, is this the best course of action? Buy the scion, sell it when he passes then proceed to pay off the Chrysler. Or should we look into something else?
Submitted May 15, 2017 at 09:50AM by xcbyers http://ift.tt/2pOR15L
