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Started By
Message
re: Did you, or do you plan to, make your kid pay for their first car?
Posted on 8/12/19 at 9:15 pm to pickle311
Posted on 8/12/19 at 9:15 pm to pickle311
quote:
I'm not starting my kid off in debt,
Why would they be in debt?
ETA: Well I guess what I mean is in debt in the since of bad debt. We all have to take at a loan sooner or later.
This post was edited on 8/12/19 at 9:19 pm
2
Posted on 8/12/19 at 9:25 pm to NATidefan
My son gets my truck at 16 . He’ll need it to get to school. He makes $120/Sat doing lawns. Has and insurance if he can afford it
Posted on 8/12/19 at 9:46 pm to NATidefan
quote:
Why would they be in debt? ETA: Well I guess what I mean is in debt in the since of bad debt. We all have to take at a loan sooner or later.
Yes, we do have to all take out loans at some point. Taking out enough for a somewhat reliable vehicle at 16 is too much IMO.
When I was 16 and got my truck, my mom took out a loan that I had to pay every month. While it did teach me responsibility, I had to give up playing sports I loved because I had to spend all my time working. That's not something I'm going to do to my kid. Fortunately, I'm in a position where I can give him a good truck that is paid for.
Posted on 8/12/19 at 9:49 pm to pickle311
I plan on buying the car straight up. And the money she pays back will go into a savings account that will help her with a downpayment on a house one day when she is more responsible with her money.
As far as sports and cheer go, I'm raising a child to be an adult. Not a cheerleader.
If she cant manage school, work, and cheer. Then cheer will go. It is a hobbie, not a career choice.
As far as sports and cheer go, I'm raising a child to be an adult. Not a cheerleader.
If she cant manage school, work, and cheer. Then cheer will go. It is a hobbie, not a career choice.
This post was edited on 8/12/19 at 9:58 pm
Posted on 8/12/19 at 9:56 pm to NATidefan
We gave our son my SUV when I got a new car. He pays his gas and insurance, and will pay any repairs. When he wants a new car he can buy one. He is pretty happy with the situation.
Posted on 8/12/19 at 10:53 pm to NATidefan
My kids will get newish Mercedes/Audi's. Being young is about having fun and enjoying life. You can work after college.
Posted on 8/12/19 at 10:57 pm to NATidefan
I paid half for my first car, but gave my daughter her's. She took over insurance when she graduated high school.
Posted on 8/12/19 at 10:59 pm to NATidefan
Trying to figure this out myself. Kids will be driving a few short years.
Posted on 8/12/19 at 11:02 pm to NATidefan
Like I had to do, he'll pay for gas and half of his insurance. That's easily covered with a part time job. I'll buy him a nice, safe vehicle, but that will be the only one. If he trashes it, he'll pay for a beater to drive.
Posted on 8/12/19 at 11:12 pm to Huey Lewis
quote:
Hate to be the bearer of bad news but your little princess isn't studying with all her free time away from the burdens of work.
Sonic. 10 min
Posted on 8/12/19 at 11:25 pm to NATidefan
Gonna get the kids probably either Mercedes or range rovers
Posted on 8/13/19 at 2:57 am to NATidefan
Gonna give them my hand downs. If they get scholarships and tops for college then I plan on buying them a new one when they graduate high school.
Posted on 8/13/19 at 5:28 am to NATidefan
I paid for my first car.
Posted on 8/13/19 at 7:00 am to NATidefan
All 3 of mine got hand me downs. My oldest got my suv after I got a new vehicle. My daughter got great grandmother's car because it was rarely driven and had 80 k miles on it. My youngest son got his grandmother's Toyota Corolla with 200 k miles on it but it was well taken care of. I pay for my two kids car insurance because they are both in college full time. My oldest isn't in college so he pays for his old stuff because he has a full time job.
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