Do we buy DD a car?

iVillage Member
Registered: 01-03-2006
Do we buy DD a car?
29
Wed, 07-26-2006 - 11:30am

How do you decide whether or not to buy your new driver a car? We are trying to figure this out as DD approaches 17 and gets her DL within 2 weeks.


We are considering buying or leasing

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iVillage Member
Registered: 05-26-2006
Thu, 07-27-2006 - 3:20pm

Does she need a car? I don't have a car and I'm 20. I don't plan on getting one either (until i have a family).

If all her friends have cars, then why can't she catch a ride with them? I don't get it.

Cars are such a waste of money.

disclaimer - unless of course you live out in the sticks with no access to public transportation, your kid is always needing to go to the hospital in the middle of the night, of if you have a massive family including 2 big dogs and you travel accross country with them every year or something.

iVillage Member
Registered: 01-03-2006
Fri, 07-28-2006 - 8:45am

Well actually, we're not so different. We normally buy cars for us (DH and I) outright and keep them as long as possible. When we bought my car in 2002, we realized at the time that it was a good car with a great warranty, that DD would be driving before we were ready to get rid of it and that she 'might' get it.


I'm not so sure that DD actually expects a car. All her friends have cars, we live in an area where nothing is close and I would really like her to be able to drive herself. We may start out by allowing her to use my car, but that means I am stranded and have another child that needs to be driven places (you can't walk anywhere from where we live and there is no public transportation).


Her education is our top priority and she is on the same page with this. Other than financially, I am not sure how having a car and an education are related.....? And financially, we'll work it out.


Yes, DD works. She earns minimum wage and has fluctuating hours at a seasonal job. So, she works from March thru October and her take home pay ranges from $30 per week to $150 on an unusually good week. She also earns tips. I encourage her to save her paychecks (for college), she lives off and saves a part of her tips and I give her $60 per month. This money is for her incidentals - so that I don't have to hand her $$ every time she walks out the door. She pays for her own movies, shopping trips to the mall for what I call 'unnecessaries', dining out with friends, etc. This is teaching her to budget her income and expenses. Again, I don't give her $ for anything else other than buy her school clothes or pay her way when we go somewhere as a family.


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iVillage Member
Registered: 01-03-2006
Fri, 07-28-2006 - 8:50am

Stacy,


The reasons why we are shying away from giving her our car is that a car we buy for ourselves will be more costly and we want her to have some financial responsibility (I couldn't take her money for my car).


So, we figure getting her a car - buying it outright - either new or used and expecting her to contribute ALL her hard-earned money to it creates some responsibility and pride in ownership. I plan to make sure she understands the cost to me (including insurance) and hope she is appreciative on that level. Use of a car will also be contingent upon rules - curfew, behaviour, grades.....


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iVillage Member
Registered: 01-03-2006
Tue, 08-08-2006 - 9:03pm

An update:


DD got her license today!! I really thought she might fail for parallel parking, but she did it! I am very proud of her!


We have pretty much decided that we will help her to buy a new car. She has $4000 to put down on it and we will pay the rest. We are looking for an inexpensive, but reliable new car and have it narrowed down to 3 models. We decided this for a couple of reasons. First, a used car is an unknown; we don't want to pump thousands of dollars into something. Second, this will be the one and only time we may be able to help her with a car. Next is college and then the other DD is up for a car and college. We feel that if we get her something new, it has a warranty and will last her until she is out of college and can choose to continue driving it or buy a new one if HER financial situation allows.


Food for thought.....


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iVillage Member
Registered: 09-29-2004
Tue, 08-08-2006 - 11:14pm

Suggestion... Get her one that is a year old, with low mileage. It's has been "shaken out" of all the bugs, the major depreciation has passed. Get it from a reputable dealer. For example, buy a Ford from a Ford dealer or a Toyota from a Toyota dealer. Dealers do have extended waranties. You actually get more value for your money and a car that is only a year old will not cost thousands of dollars to fix.

A good car,if maintained, will easily last more than 5 years,with no problems. Mine is 9 and going strong.

iVillage Member
Registered: 11-13-2004
Thu, 08-10-2006 - 4:25am
Chiming in a bit late.
I agree with most of the others. Treat yourself to a new car.
It seems common for teens to get somewhat delusional regarding what car they seem to expect to drive. As someone else said, vehicles are a waste of money. It seems almost a given - at some point a new driver will most likely bang it up, and we pray it will be minor.
In my case, DD insists on taking her drivers test on her 16th birthday. (in 3 days).
She simply is not ready. For both my wife and I, the last few times we've taken her out driving she has had several near misses. Also, she asks, "Is it clear for me to change lanes?" I tell her she needs to answer that herself if she plans on driving by herself when licensed. Ugh..
She has great plans for all this new freedom when licensed. Not going to happen. I'm privately hoping she fails so this becomes a non issue and her limited driving priviledges doesn't seem like a punishment to her. She also plans on a mustang convertable. uh huhh...
Anyway, you've already received some good ideas on vehicles. I'd like to add one more to the list. A Ford Focus would make a great kids car. Very inexpensive, side impact air bags, and consistently rated #1 by consumer reports. Just as durable as a Civic without the price. Goodluck with your decision!
iVillage Member
Registered: 08-17-2005
Thu, 08-10-2006 - 1:06pm

I agree with OP - get her a nearly new, year old car. You will save thousands of dollars and all the depreciation (you've probably heard that new cars depreciate the minute they are driven off the lot). Credit unions often have these sales. IMO you are deeply going to regret buying her a new car.
Good luck.

iVillage Member
Registered: 01-03-2006
Thu, 08-10-2006 - 6:26pm

I appreciate all the input. I have looked at the possiblity of a used (newer) car and typically, I will only save $1,000 for each year old the car is (did I say that right?). So, if a 2006 is $15,000, a 2004 is $13,000. Not a huge savings in my mind. I would rather have the full warranty and a car that can get her thru to beyond college.


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iVillage Member
Registered: 11-09-2003
Sat, 08-19-2006 - 4:41pm

Well, this is a hot topic... Last year, I found and bought my daughter a cute
honda accord, older model and it was running....the thing kept shuting off!
We ended up spending $600 for the car, and another $1500 for the repairs and
its still broke down. My daughter graduated this past year and DH and I decided
that we would prefer to get her a newer safer car. One with airbags.... the works.
We ended up buying a 95 Nissan Altima for graduation. It has been in the shop a couple
of times and once we spent over $900 on a repair. The car - she loves it. I feel
better about this car, although its not as sporty as the honda that my hubby fixed
up. No spoiler etc... BUT NOW, we are dealing with this on my son! He bought a
Toyota Celica (94 model) from his auto tech teacher, and NOW it needs a motor, but
we figured on that one. The car is sporty and it will be better than the toyota
celica gts that he bought last year. It would cost a fortune to insure.

I feel guilty because I drive a 2000 mustang convertible...but not to bad, because
I let my DD borrow it when her car was down, and now the bumper is messed up.
9 times outta 10 they will have some kind of accident within the first year.
I think they should start on a car that you wouldn't mind getting torn up.

I definetly agree that they should be responsible for some kind of financial
part though.

GOOD LUCK

Signlady


"We are Virginia Tech - we will Prevail"


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