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Old 05-18-2009, 08:16 PM
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Default Buying a Car

When my boys turned 14, they started working to save money for their first car. I think that it is important to let them earn their own money, learn to save, and then make the purchase of their first car. This way they realize the hard work that was put into purchasing this car.

There are parents who buy their kids a car when they turn 16. Did or will you buy your teen their first car.
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Old 05-18-2009, 09:54 PM
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I'm pretty sure I will buy one for my daughter. She will have to put gas in it though. I'll carry her insurance too. When I was younger my parents bought my first 3 or 4 cars (beat up cars and I smashed a lot of them).

I think it's great that they are working towards theirs though.
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Old 06-15-2009, 12:29 AM
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I cringe at the insurance. It would be better that a child have his or her own insurance, even if you're the one actually funding it, because any accidents will not only make your insurance go up but can put you at risk of losing all your assets. Children do not have assets and therefore cannot lose them.

As far as buying a car goes, fairness is my major issue. If I had multiple children and I bought one kid a car, I better be prepared to buy the rest of them cars or else there will be a huge jealousy/favoritism issue.

Having a car as a teen is a major lesson in responsibility. If the teens aren't paying the insurance then they are less likely to be concerned about reckless driving and obeying the speed limit. Luckily in NYS there is a 6 month probationary period where if a newly licensed minor is ticketed / is at fault for an accident their license is suspended. But once those 6 probationary months are over, see ya!

This is just my insight on the matter and not intended to be in any way preachy or condescending. Good luck!
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Old 06-15-2009, 12:31 AM
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I'll definitely make sure my 2 boys learn to drive and get a car through working and maybe some help from us. I would not let them go through life like me not having a car.
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Old 06-23-2009, 11:55 PM
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My 15 yr old just bought himself a truck. It is an old beat up pickup truck, but runs great! He can't wait to get his liscense next year. Right now he just drives it around our lawn.

I also have my kids pay for their own insurance. Especially with accidents, it keeps going up. My sons car was parked and hit by another teenager. The car was totaled! His parents asked us to say that the mom was driving so that their insurance wouldn't go sky high!
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Old 07-01-2009, 10:43 PM
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I never thought about the insurance issue. Good plan to put them on their own. I was thinking of putting her on mine to get her a cheaper rate and have mine go down too (multi-car discount). Although if she got into an accident or had tickets (and I had both as a young driver), it will make it go higher.

Cool a truck! I bet he can't wait!
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Old 09-15-2009, 12:14 PM
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I think it's a very good idea to have them save up to get their own car. This will teach them that they have to work for what they want and also it will make them really appreciate it that much more. I can't imagine working at 14, wow!! I didn't get my first job until I was 18 lol.

Well, my mom forced me to babysit for her from the age of 12 to 18, so I guess that counts for something, but she never paid me a dime.
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Old 09-15-2009, 12:57 PM
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Were your boys able to buy the car right now? It seems that at a very young age, they knew how to value the money. I hope my kids were like yours. Anyway, in my case, I would buy them a car if they turned 18 years old and above. I don't think below that age would be allowed to drive a car.
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