re: First Vehicle for you kid?

Both kids got used cars as seniors in high school with the understanding it would last them through college. I paid for insurance, maintenance and they paid for gas and minor upkeep. Both had part time jobs and the cars lasted past college.
Our agreement was 1 car, 1 chance at college and 1 wedding. The next time was at their expense. It worked out just fine for all.

quote:

---

A post count boom When you know you have absolutely nothing to back your BS up, that is where you go.

---

You just proved you’re a ditch digger. Keep digging...

quote:

---

My point is I’ve seen a lot of well educated people fail because they don’t know how to work.

---

Anyone who does school the right way knows how to work. Anyone can get a degree. Show me how many 3.5+ gpa grads that didnt work part time dont know how to work due to them them not working part time.

Wife (no pics) got in an accident last year. Her Armada was about a year old. Brand new Tundra rear ended her (no pics) at about 40 mph. $24K worth of damage to her SUV but it was driveable and she didn't have a scratch on her. Tundra was toast.
Paramedic told her she had seen several of those in moderate to bad accidents with the same outcome, no injuries.
She's now convinced we will have to buy nothing but gigantic SUVs for her and our daughter from here on out.
I'll hopefully find a 4 door wrangler in 10 years that I can armor and bulletproof for her first vehicle.

quote:

---

First Vehicle for you kid?

---

Was 2017, bought mine a 2007 Civic for $6500. He got 3 years out of it before insisting on buying a new vehicle by himself. He's got a job and a scholarship so cash flow in college isn't a problem for him.

No way in hell I'm buying a teenager a new vehicle

I also made him pay his part of the car insurance so that he had some skin in the game.

quote:

---

do you assume I don't know how to manage my finances because I've not bought a car for myself yet?

I've had a maxed out 401k, a separate maxed out roth ira, and a cash savings account (current balance about 1 yr of my current salary) since I was 25. I have one mortgage on the only home I own currently. I have no credit card debt. My checking account stays steady and I auto transfer $ to savings every paycheck.

---

The fact that you answered this way makes me even more skeptical. I mean, say you were forced to pay rent when you were 18, so you thought it better to just move out on your own. You didn't have mom/dad buying you a car, paying your insurance, etc. You have $250 to your name and rent is $600 and due in a week. These are situations people deal with, and I just wonder with your lack of adversity, at least financially, how you would handle this sort of situation.

quote:

---

Please go back to focusing on your selling with that accounting degree. You suck at this.

---

You’re a pro poster! Well done

quote:

---

So no part time after school job to help them learn how to budget money and pay bills? Just wait until they’re grown and send them out in the world without them ever learning how to function as an adult? Great parenting right there.

---

I’m extremely good with my money. Never had any debt in my life. Started building credit with a credit card at 18 and now have an excellent credit score. Use a high yield savings. Never paid a bill late in my life. Etc etc

My parents bought my first car, traded it in for my 2nd car at 21, gave me their old SUV at 24/25, and bought my current car with half of my wedding money.

My dad also pays my car insurance for the year as a birthday gift every year.

You can teach your children how to be smart with their money while also providing for them. I don’t think there’s anything wrong with making your teen get a part time job (I’ve worked since I was 15) and having them pay for things, but I never understood the mentality some parents of intentionally not helping with anything when they can afford to.

I'm saving now for his 2031 Platinum 4x4 F250.

quote:

---

use to be of the opinion that every kids first vehicle should be a clunker that runs, but they'll have to fix if it breaks. Unfortunately cars mostly aren't like that. Trucks still are to some extent. My first vehicle was my dads old 79 F150. It was a piece of shite, but it ran. If something went out I had to fix it.

---

Yeah, when I was 16 in the 80's it was at least a once a week occurrence where someone's car broke down on the way to school in the morning. Those old Monte Carlos, Grand Prix's, Regals, etc. were so unreliable.