I have a teenage working son, earning his own money, wants us (his parents) to buy him a car, should we or not

Answer 1

I also have a teenage son, in college and working, but we still can not afford to buy him a car. It's not just the car, but insurance, repair, taxes etc., so I feel he needs to save the money and buy his own car when he can afford it. May not be what he wants, but he will appreciate it more, and it will build his credit.

Answer 2

I don't know that I'd buy *him* a car. But I figure I'll probably do what my parents did for me and make sure I have a family car available (at least sometimes) for the kids to use. If you can afford to do that and he's able to follow the rules you set then don't let anyone else second guess you on it.

Other friends had the family car but had to pay their insurance for it. Or went halfsies with their parents on a car. There are a lot of options out there.

However, if you can't afford to have another car in the house and on your insurance then don't feel bad about saying no. Or if you want him to get his own as a matter of principle. Those are your rights also.

Answer 3

No, you shouldn't. You work hard to pay for the things you want, shouldnt he too? When I was 16 my mother told me she'd either pay for me to have a brand new sports car or my college degree. Well, of course I picked the car, i was 16. Now i'm 21 and the car is long gone. Now i have a new car, which i had to buy myself, and am up to my eyeballs in student loans. Do the smart thing, make him buy his own car, and put the amount of money that you would have gave him for the car into a secret savings account for him to use for college.

Answer 4

Depends on how responsible he is.
I would recommend having him establish a savings account and offering him "matching contributions" towards a car.

Teenage boys are known for being easily distracted, taking chances, and are most likely to crash their first vehicle, so I would not recommend buying anything new for him.

Either that, or you can put him through the Motorcycle Safety Foundation's Course and get him his license, then help him get a moderately-priced 250cc scooter. That way he can get around on most roads, but not the freeway, and not carrying a lot of other kids. The things are virtually impossible to start if inebriated. In caring for this ride, would prove his worthiness for help on a car.

Answer 5

basically shop saving your money. you will hit upon a respectable vehicle for nicely below $10,000. case in point, I also have a 2000 Chevy Impala that I paid $6000 for! It had 65K miles on it and in basic terms had 2 owners previously me. Its been a sturdy vehicle, and hasnt given me lots trouble. I wouldnt bypass out and get such an costly vehicle once you're youthful. you're nonetheless an green driver at 18, and you're at a severe threat of having into an twist of fate. insurance would be larger for a extra costly vehicle, and in case you do finished it, the insurance does not disguise the value you paid for the vehicle, it covers the present value of the vehicle! As rapidly as automobiles depreciate, Your $20,000 vehicle could in basic terms be well worth $10,000 or much less after a year or so anyhow! hit upon a vehicle that suits your potential. keep in mind too, in case you come to a decision to outlive-campus.. many schools do not enable first years to have a vehicle! A severe value ticket does not constantly advise that its a sturdy vehicle. you may actually hit upon a sturdy used vehicle it relatively is barely some years previous for many extra value-effective!

Answer 6

i think you should he is doing goood and has a job and i think it will help you guys out with not having to drive him everywere just set the rules that you want and make him pay for the car insurance that is what my parents did even though i got a crapy car that broke down all the time but it made me feel good and resonsible with things and i've been working since i was 15 now 21 and it helped me but i can imagin being scared about my kid driving but he is growning up i say do it he will be so happy

Answer 7

lol!! I was working since i was 16...my parents never even let me use their car let alone buy me a car!! (and its not because i was a bad kid) I got good grades, went to school and even worked part time after school and on weekends. I got my licence when i was 18 (when i was ready) and i bought my first car for $500. it was a 1982 Honda Accort. It was a piece of junk, but i loved that car...it was mine. I say let your son buy his own car, he will appreciate it more, he will keep it up because he will know the value of it.

Answer 8

This is what my parents did for me. Once I saved 500.00 they matched it for the car purchase. I had to get insurance in my own name (they made sure that I had enough money in my savings account to cover for a year.) I had to have enough money in my savings account for repairs and maintenance (another $500.00). I had to put a percentage of my pay check in the bank for any other unexpected car expenses. All gas money came out of my pay check.
If you feel that your son is mature enough to handle the responsibilities of a car why not. But, if you don't feel he is then no way!

Answer 9

Here is what we did. Bought our son a "beater". We paid for it but he had to work part time to pay for the insurance and gas and everything else. He was very involved in sports in school but still had to make enough money to pay for his bills.

He is almost 30 and knows to be responsible for his bills. He has a nice home and 2 kids. We could of paid for everything but they need to learn responsibility to pay for their own bills.

Answer 10

He maybe earning his own money but I bet it's not much. Offer to go half with him. What ever he can come with in a set amount of time, you will match it. So tell him, for example, that whatever he can save in 6 months, you'll match and then he can decide at that point what he can afford.