{"id":25900,"date":"2022-01-13T08:04:24","date_gmt":"2022-01-13T13:04:24","guid":{"rendered":"http:\/\/t3_s2yzne"},"modified":"2022-01-13T08:04:24","modified_gmt":"2022-01-13T13:04:24","slug":"parents-want-to-lend-me-50k-to-buy-a-vehicle-i-would-pay-it-back-interest-free-over-a-few-years-are-there-any-tax-issues-or-things-i-need-to-be-aware-of","status":"publish","type":"post","link":"https:\/\/blog.andrewwbradley.ca\/index.php\/2022\/01\/13\/parents-want-to-lend-me-50k-to-buy-a-vehicle-i-would-pay-it-back-interest-free-over-a-few-years-are-there-any-tax-issues-or-things-i-need-to-be-aware-of\/","title":{"rendered":"Parents want to lend me 50K to buy a vehicle, I would pay it back interest-free over a few years. Are there any tax issues or things I need to be aware of?"},"content":{"rendered":"<p><!-- SC_OFF --><\/p>\n<div class=\"md\">\n<p>As the title states. My parents have a large amount of cash just sitting in a savings account and not producing any interest.<\/p>\n<p>Instead of financing a car loan from the bank or liquidating my assets, they suggested that they would lend me the total amount and I would pay them back incrementally over a few years. Is there anything that I need to know in terms of being lent a large amount of money, that the government would interested in?<\/p>\n<p>TIA<\/p>\n<p>&#x200B;<\/p>\n<p>I Should have said a number lower than 50K. I am receiving quite a bit of hate. Feel free to read it as 5K and go on about your day. <\/p>\n<\/p><\/div>\n<p><!-- SC_ON --> &#032; submitted by &#032; <a href=\"https:\/\/www.reddit.com\/user\/No-Construction-8689\" target=\"_blank\" rel=\"noopener\"> \/u\/No-Construction-8689 <\/a> <br \/> <span><a href=\"https:\/\/www.reddit.com\/r\/PersonalFinanceCanada\/comments\/s2yzne\/parents_want_to_lend_me_50k_to_buy_a_vehicle_i\/\" target=\"_blank\" rel=\"noopener\">[link]<\/a><\/span> &#032; <span><a href=\"https:\/\/www.reddit.com\/r\/PersonalFinanceCanada\/comments\/s2yzne\/parents_want_to_lend_me_50k_to_buy_a_vehicle_i\/\" target=\"_blank\" rel=\"noopener\">[comments]<\/a><\/span><a href=\"\">Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>As the title states. My parents have a large amount of cash just sitting in a savings account and not producing any interest. Instead of financing a car loan from the bank or liquidating&#46;&#46;&#46;<\/p>\n","protected":false},"author":1,"featured_media":24127,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":[],"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[10],"tags":[],"_links":{"self":[{"href":"https:\/\/blog.andrewwbradley.ca\/index.php\/wp-json\/wp\/v2\/posts\/25900"}],"collection":[{"href":"https:\/\/blog.andrewwbradley.ca\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.andrewwbradley.ca\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.andrewwbradley.ca\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.andrewwbradley.ca\/index.php\/wp-json\/wp\/v2\/comments?post=25900"}],"version-history":[{"count":0,"href":"https:\/\/blog.andrewwbradley.ca\/index.php\/wp-json\/wp\/v2\/posts\/25900\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blog.andrewwbradley.ca\/index.php\/wp-json\/wp\/v2\/media\/24127"}],"wp:attachment":[{"href":"https:\/\/blog.andrewwbradley.ca\/index.php\/wp-json\/wp\/v2\/media?parent=25900"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.andrewwbradley.ca\/index.php\/wp-json\/wp\/v2\/categories?post=25900"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.andrewwbradley.ca\/index.php\/wp-json\/wp\/v2\/tags?post=25900"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}