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Who Pays for a Teenager's First Car?

Old 06-10-19, 08:27 AM
  #26  
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Re: Who Pays for a Teenager's First Car?

I saved until I had about 1K or some other amount banked for "repairs" paid for my first car 1976 Olds Omega which I bought off my Dad for ~500 in 1986, it had been his DD before that, paid for my insurance and had to keep a balance maintained to pay for when it broke down. I did all my own brake jobs, some exhaust work and basically anything I could do to keep it on the road and avoid paying a mechanic. The net result is at 48 i still refuse to pay anoyne else to do brakes, calipers rotors and I still do as much of my own work as I can.

My son literally just turned 16 Saturday and had been saving for a car, my wife and I were torn on getting him a car vs making him buy one when out of the blue my Brother in laws wife's- sister gifted my son with a 03 Tacoma with 119K miles. They moved from Chicago to our area last month and their new place didn't have room for 3 cars so they thought of him. We are not particularly close with them but my son apparently was closer than we thought. Very kind as they had take really good care of the truck with paperwork going back to new with documented oil changes,valve job breaks tranny work etc since new. Sort of stunned still.
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Old 06-10-19, 08:59 AM
  #27  
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Re: Who Pays for a Teenager's First Car?

My first car was a hand me down super sweet '74 Mustang II (it was my mom's car). The hand me down car was pretty much standard, at least for my circle of friends in high school. There were a few of the rich kids whose parents bought them new cars, but that wasn't the norm.
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Old 06-10-19, 09:21 AM
  #28  
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Re: Who Pays for a Teenager's First Car?

My grandparents actually bought us bonds when we were younger and I used that to buy my first car. As I recall, insurance was paid for by my parents until I graduated college and I paid for all the gas. I believe they paid for repairs (there weren't any) and I paid for oil changes/upkeep.
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Old 06-10-19, 12:03 PM
  #29  
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Re: Who Pays for a Teenager's First Car?

Dad bought my first car. I assume we will buy our daughter's first car in a few years.
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Old 06-10-19, 12:05 PM
  #30  
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Re: Who Pays for a Teenager's First Car?

My parents bought my first car, and worked out a payment plan to pay back half of it. I paid for all of the insurance, gas, repairs, etc. I did have a good job though, so it wasn't tough to do. For my children, it'll depend on whether or not they can even get decently paying jobs at 16 years old.
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Old 06-10-19, 01:11 PM
  #31  
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Re: Who Pays for a Teenager's First Car?

Originally Posted by JeffTheAlpaca View Post
I had to drive a Plymouth Duster for 6 years until I got a new 1998 Honda Accord
Hey depending on what year (1970"s) those are pretty cool and sought after now for Hot Rods.

If your kid is going to be traveling in it long distances absolutely think about the safety features and what upkeep will be on an older car vs. newer.
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Old 06-10-19, 01:28 PM
  #32  
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Re: Who Pays for a Teenager's First Car?

I saved up and my mother and grandparents matched funds so I could get a safe and reliable used car (a cherry 1977 V6 Pinto Wagon). Within a year I upgraded to a nicer ride ('72 Chevelle). I still miss that Pinto though.

Our daughter saved up and we made up the difference when we found her a decent used Civic.
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Old 06-10-19, 01:42 PM
  #33  
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Re: Who Pays for a Teenager's First Car?

We will likely let our sons drive one of our cars to work and school events. They will have to pay for gas and insurance on their own.

There's no way in hell would I buy a car and give it to one of my kids. If they want their own vehicle so they can act like an adult, they can work a job and buy one just like an adult would have to.
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Old 06-10-19, 05:06 PM
  #34  
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Re: Who Pays for a Teenager's First Car?

Sheeeyit, my son will need to save up to get his own shit.
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