Did you help your teen buy their first car?

We bought our teens cars. They had a budget and it was important to DH to teach them how to shop for and negotiate buying a car. We paid for insurance and they paid for gas for the most part. We didn’t have a need for a contract but they have always known the car belongs to us and if they aren’t using it appropriately, maintaining grades, etc, it will be parked.

We live in an area where there is no public transportation. We live apart from family or grandparents and DH travels significantly for work so having another driver was very helpful. We also don’t have a huge market for jobs for people under 18 and sports/activities were a huge time commitment. All things considered, it was a huge convenience for US to buy them cars.

This is pretty much how we did it.  When our oldest went to college we had her contribute to insurance & she paid for licensing. She recently bought her own car and the car she was using was passed onto her 16 year old sister. When she goes to college we will probably get her a car with less miles on it, but right now it's perfect for her to get to her school activities. 

DS had a nice savings account going since he was a baby. When he was 15 1/2 we started looking at cars with him. For his 16th bday, we gave him $1000 toward a down payment when he found one. He was responsible for the rest. He ended up with a really nice Ford Escape for about $10,000. He does have a job (started 1 week shy of 16). He is responsible for his car payments, insurance, gas and upkeep. For his 1st round of insurance $900 for 1/2 a year - crazy! We paid 1/2 for him. FOr the 2nd round, my parents paid 1/2, just to get him going.

We felt that if he purchased himself, that maybe he'd be more careful with driving since it was his $. So far, so good. He's even paid to have 2 major repairs done.

No we have a second that our kids have full use of when they are old enough to drive. We pay for insurance, repairs and about half of the gas We want them to save their money for school. With the money they have saved and our contribution they should be able to graduate from a 4 year program debt free.

DD is away at school and the expense of a having a car at school is too much to justify when public transportation is "free" with your tuition.

DS is turning 16 on the 19th and we are shopping for a second car this summer, once he is able to drive by himself he will have full use of our older car. If he stays here to go to university, which he is leaning to we will continue to pay all the expenses for a car.

I didn't get my first car until I was 28 and working full time.

ETA both kids worked while in high school part time during school and full time during the summers and managed to save quite a bit

We bought our kids their cars and cover all expenses while they are/were full-time students.

I do not plan to purchase a car for either of my kids.. if we are in a position to purchase cars at that point, they can buy ours used from us. They will be responsible for their insurance and gas.

My parents did not purchase for any of the 4 of us. My DH’s parents bought new for his sister (wrecked a month later, bought ANOTHER new) and bought him a gutted truck at 14 that he built himself. DH is older than his sister.

I worked, and to get to work I rode my bike or roller blades or parents took me and picked me up. When I had enough money, I bought my great grandmothers car (1970 Buick in 1992) from her and paid my insurance and gas. (Got about 10 mpg). Same for my siblings....work, save up, buy car, pay gas and insurance.

We bought ds's. He played varsity football, basketball, and baseball, so working wasn't really an option.
We also pay insurance and gas. He drives his brother to school

This. We helped our girls out. We live in the boonies, so not many job opportunities. We also wanted them to get good grades. We helped them all the way thru college. Now they are both on their own.

Yes, we bought our oldest two a used Honda. My son drives it though (DDs not driving yet - long story). We paid for it and he pays his part of the insurance. It really has been a good thing for me, especially while my husband has been away and I work full-time. My son can take his siblings places for me, and pick up things at the store and such, as well as drive himself and his sister to their college classes. So it’s been completely worth it. He can buy it from us if he wants when he’s finished with school and/or working full time. We’ll also be there to help any of our children buy a car on their own when they are in a position to do so.

We’ll probably get another economic used vehicle this year for my youngest two to share. My youngest DD should be driving within a year and has a busy extracurricular and social life, so it will be easier on all of us if we have another vehicle to use.

We gave DS1 my old car when I bought a new one (planned that way). It was 3 yrs old when he got it and will be the only car we give him. We pay for insurance and from time to time we’ll fill his tank, but he mostly pays for gas. He’s in college and the car will last until he graduates and probably longer.

DS2 is 15, and is hoping we’ll do the same for him. I’m trying to pay off my car ASAP, so we can give it to him when the time comes. If not, he’ll wait.

Both boys are straight A students, and DS2 has a lot of extra curricular activities, so having him drive himself will be a huge help to us.

We bought both of our boys their first car (used). We pay all of maintenance and they pay 1/2 insurance. We give them gas money but if they need more, they need to pay for it.

We provide a car to drive (our vehicle, in our names) we pay for the car and insurance and for gas. They are in school and need to focus on school. They are not fancy cars - one is a 1998 Toyota and the other is a 2007 Jeep (side note, never buy a Jeep. It is the worst car ever). when they graduate college we will buy them a new-to-them car, a two or three year old sedan with low mileage and a good reliability record, Honda, Toyota, or similar. After that they are on their own. We figure that should get them 7-10 years down the road (pun intended) and out of the nest.

We are paying (most) of our kids' expenses through college. My oldest saved enough to put a good chunk down on a house. As long as they were earning and saving while they went through school, I didn't have a problem. Thankfully both of my boys have been very responsible in spite of their parents paying for things.

We bought our kids a decent car their senior year in high school. The goal was that it would last u til they were done with college, or beyond. The car was in our name, and we paid insurance. My oldest just used it as a trade yesterday for her first car. She graduated in December so it did what we wanted. She had it over five years. And cried when she left it in the lot!