Cars and Kids: To Buy or Not to Buy
Go on any high school campus and you will often see rows of brand new expensive cars – and the majority of those cars don’t belong to the teachers. When it comes to cars and kids, parents will want to do some thinking to determine what is best for their teen.
- Have your teen invest in a car fund by working an after-school job and showing respect for family property. The money they invest should be based on the type of car they can maintain, not just drive off the lot.
- Driving school is a must. Make sure your child has at least 300 hours of driving time behind the wheel before they’re allowed to buy a car.
- School comes first. When a car gets in the way of a child’s education, the car must go.
- Friends and cars can be a great experience or a very dangerous one. Make sure you know your child’s friends well.
- All maintenance, insurance and repair of the car should gradually become the sole responsibility of your teen.
What makes today’s high school students or even college freshman more in need of a brand new car than teens in the past? The only difference is we’re willing to buy these expensive cars. The money you’ll spend on insurance, car payments and expensive repairs, not to mention gas, could be invested in your child’s education. When it comes to kids and cars, parents should think smarter and teens should work harder.
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