have you will you be buying your kids a car?

[sparkysgirl]

or will they half to buy it themselves?

[getforfree]

I am planning to buy both of my kids a car when they are 18 or so. If I would have more kids, maybe I wouldn't be able to afford that. I guess that's one of the reasons that we have 2 kids and don't want more. Plus, I don't think a person normally has 8-10K on hand when they are 18. And I don't want my kids to start their grownup lives from debt. I would also like to help with their down payments for their first houses.

[PRICEPLUS]

I'll cross that bridge when I come to it!

[LivingAlmostLarge]

I don't know, maybe. Everyone I knew got one, but I didn't and neither did DH. It would be nice to afford it.

[kealina]

that is a long ways away for us but i think DH and I would help but not necessarily buy them a car outright... also, it probably won't be a nice car... just a cheap but reliable car is all they need...most likely something only a couple thousand.... in fact, our parents didn't buy us anything despite being comfortable enough financially and most of the cars we've owned (we're on the 3rd and 4th right now) we paid for outright and so far none cost more than 2K...

[Lori63]

My oldest started driving what was my hubby's car-a '94 Corolla -and hubby got a newer one-2000 Camry. This was in 2004.
My next son will need one in a year or so-will probably find a used Toyota or Honda for him.

[rduell]

Our kids, the oldest 3, have bought their own cars. DS#2 just bought a 1995 Ford F150 and is working on it at the garage where he works after school. He's replaced the ball joints and brake pads and now needs to replace the emergency brake.

[MonkeyMama]

I'll cross it when I come to it but for now I say they can buy one themself. My first car cost $1500 and lasted me well for about 8 years. IT still had a long life ahead when I retired it. Plus it seems silly to put a lot of money into a first car. IF the child is financially responsible odds are they will take better care of the car. But no matter how good care they take they are new drivers and odds are it will get some dings and dents the first years, if not wrecked. This is why I find a brand new car silly for a 16yo.

Oh anyway - I did have to buy my first car and it was great for me personally. Dh think it is so awful but one day we sat down and had a discussion, I bought a car and the gas, but my parents paid the insurance. Plus since I didn't have the money my parents gave me an interest-free loan and so I paid them $100/month for 15 months. Which was most of my pay at the time. & dh on the other hand, parents gave him a car, but he had to pay the insurance. Wouldn't you know he paid about the same in the end - $100/month for insurance. So we are still arguing on logistics but we agree about how much we expect our kids to contribute when you dissect it down... Personally I enjoyed the pride of paying off and owning a car, and once it was paid off believe me I Took over the insurance too... Still trying to convince him that it is better to have them pay towards the car first, then the insurance. & he still thinks it is HORRIBLE my parents didn't buy me a car. HE says tomatoe, I say tomato... His car was a piece of crap that didn't last long BTW, at least mine was nice and safe and lasted - LOL.

[PrincessPerky]

We have no intentions of buying cars for the kids..They can buy their own, or do without.

you know you actually don't have to have one car per person.....people can share.......

When our kids are ready for ALL the costs of a car, we will help them figure out a good car, we will help them use their own money wisely (they all have savings accounts, and saving something from all you get is already a constant tenant of money management.)

We will prolly offer a comprimise on inusrance, like adding them to ours and prolly reducing the bill in part in return for errends. But there is no such thing as a free lunch, and that is good, hard work, consistancy, and getting to choose your own path are very useful skills.

I am reminded of the recent ad for some car or another, where the 'sweet 16' threw a tantrum over the wrong color....

[Ima saver]

I started saving for a car when I was 12. I got a job and worked for $3 a day. It took a while, but I paid cash for my first car when i was 16 and I had to pay the insurance and upkeep too. I think I was the only girl in high school with my own car.

[pearlieq]

Possibly. Won't quite know until I get there and it might depend a lot on the kid.

We live in the middle of suburban sprawl. The high school my kids will go to is about 10 miles away and they don't run late/early busses for activities. There is nowhere one can walk and there isn't any practical public transportation.

Basically if my kids want to go anywhere we'll have to drive them or they'll have to get a ride. It might be easier on the whole family for the kids to have a car. They could possibly share one.

There are certain opportunities and experiences that just aren't available after high school. I don't want my kids to be a slave to a car like I was. There's plenty of time in life to work at McDonald's and doing clerical work. I could have done so much more in high school if I wasn't working all the time trying to pay for a car.

Of course I wouldn't be buying anything extravagant and the kids would be responsible for gas, upkeep, and their share of the insurance. We would possibly also have them do chores or a special project to "pay" for the privilege of having the car.

[Hot dog]

I am getting to that point. I always paid for my own growing up. I did tell my son I would come up with half of the money he saves for a car to help him. Insurance I plan to make him pay about 25-30 a month I was surprised it is not going to be as expensive as I thought. That is all in theory though we haven't actually gone through it yet.

[fairy74]

No way, I feel like most kids are raised to think they deserve things, cars, assistance with buying a house, etc..I am also amazed at the number of 15-20 year olds who don't have at least a part-time job. Food, shelter, education, clothes those are things that should be provided, the rest is gravy and the way people learn to be appreciative is to work hard. I think it is ok to match whatever funds they can come up with on their own, but the sense of entitlement of most kids is ridiculous! Whatever teaches them to be self-sufficient is a great gift...if they have to wait longer to get the car, carpool, walk or take the bus, that's life.

[BCHGRL]

If/when we have kids, I envision we will do a some sort of matching. We could say, we'll match what the kid can contribute 50/50, capped at some price. In today's dollar, I can't see us matching more than $5K.

[savvy06]

I agree with getforfree.

We're also planning on buying our daughter an inexpensive new car when she's ready for one, fully paying for her college, and helping her with the down payment of her first home. We believe that helping her early in her grownup life will prevent her being financially behind. We also don't think that she'll be a spoiled child being the only child. In fact, we believe that children learn what they live. She's only 3.5 but she already understands the concept of saving. Just last week when my husband and I were talking about money, she asked her dad for some, and he gave her 2 dollars. I asked her what she'll do with that money, she said one will go for the vacation we're planning, and the other she'll use for Chuck and Cheese's.
That made us laugh.

[cicy33]

I bought my daughter her first car. I paid $500 for a used dodge daytona. There is no way people can expect a child to earn enough to pay for a vehicle at that point. and even if she could have walked to work, which she couldnt' have, in this day and age I wouldn't let her. she would have to work after school which means walking home alone at night. dangerous. her first car was beat up but ran. She got a job and had to pay for all the insurance and if she wanted a better car she had to work for it. she did. From the time she started working she has bought her own vehicles, cell phone bill, clothes, etc. She is very responsible. I refuse to spend much on a used vehicle. Generally kids wreck the first one either due to stupidity or inexperience. Amazingly she did not wreck it. A friend bought it from her a year later and to my knowledge it still runs! Now, with the next four, it will depend one on if they are living with us full time by then or not. otherwise they will share a vehicle. I just believe the kids cannot buy a first vehicle easily and I am not saying they need these shiny new ones that all their friends get either! that is so silly. Why give a teenager something so expensive that they will probably wreck in the first year?

[jodi]

We plan to do as my parents did - they told each of their children that if we bought a car, they would pay for our insurance through high school and college providing we never got a ticket for anything. None of us ever did. To this day, I have never received a speeding ticket. I think my two brothers might have gotten one or two, but we never got into any accidents or had tickets while in high school. Who says that every teenager is going to crack up their first car??? We certainly didn't - we paid for them. Also, we knew that if we did drive recklessly, we would have to pay for our own insurance.
I have been driving for 12 years. My first car cost $800. My second was $2000. My third was $11k (my college graduation gift to myself). My current car was $7k. I paid for them all myself, three with cash and one with a 5 year loan that was paid off in two years. I was taught very good money management skills from the start, plus I have worked since I was 15 years old (three jobs my senior year, but I never felt like I missed out on anything).

[cicy33]

Never did I say every teenager wrecks their car but it is a proven fact that most teenagers do have a wreck within the first year, not all but alot. My neice had 2 her first year. My daughter had none. still never has. I didnt' either but it does happen to many many teenagers. Not always bad wrecks but rear enders, trying to go to fast and hitting someone, something. I am also aware of several of my daughters friends that also had a wreck within their first year. My point was only why buy something really expensive for a child that has limited experience behind the wheel. I still don't understand how people expect teenagers to afford a vehicle? I mean they have to be able to drive to get to work and home. I certaintly couldn't do it, I had a job that did not work with her hours. Sure they can save their allowance, if the family gives one. But even that would take a long time! Her car was her 16th birthday present. A little pricey for a present but worth it. She was also responsible for paying for all the expenses to keep it running. and she did. and I never gave her money for fuel or anything. If she wanted to go she had to work and pay for it herself.

[jodi]

I was just making a statement in general, as the idea that teens get into a lot of car accidents seems to be a common theme For us, IMO, we drove more carefully because we knew an accident would pretty much take us off the road.
Both of my brothers and I were able to afford our first cars, from $800 to $4000. My brother worked at home, on the farm, so no transportation issues there. My parents were able to take me to my job, only a few miles away, until I got my license. I think my other brother borrowed my parents car to get to his until he could afford his car. I guess if the job is too far, and there isn't a car to borrow or a parent to drive, transportation could be a problem.
I have no problem with kids receiving cheaper used cars as gifts, so long as they pay part or all of the upkeep. Even though I paid for my car, my folks did help me out with repairs through college. It just makes me a little ill to see 16 year olds receiving $20k cars, cracking them up, and getting new ones. Where's the lesson in responsibilty there?

[cicy33]

oh absolutely, I just want to ask the parents exactly what were they thinking??? Kids do not need 20K cars, Heck I don't have one! Kids should have to earn the vehicle I do agree. Or at least be required to be responsible once have it. I see all these nice, expensive cars at the high school and I am just wondering how they pay the insurance? the one big benefit to my daughters first car was low insurance cuz only had to have liability since older and paid for. which she did pay for.