anniebeth24
Pearl Clutcher
Posts: 3,566
Jun 26, 2014 14:12:17 GMT
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Post by anniebeth24 on Apr 7, 2019 19:16:17 GMT
We required our two to pay for half of their first car.
I was a SAHM and was available to drive them to their jobs and to their activities until they saved what they deemed to be enough.
DD was in no hurry and didn't buy one until her 2nd year of college. She was happy to use my minivan when she wanted to go places and didn't need a car on campus.
DS was ready with cash right on his 16th birthday.
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Deleted
Posts: 0
Jun 1, 2024 21:21:44 GMT
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Post by Deleted on Apr 7, 2019 19:17:14 GMT
This is us in a nutshell. Our oldest DD drives a Prius so gas isn't much of an issue.
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Post by gale w on Apr 7, 2019 19:40:48 GMT
We gave ds $1500 to put toward a car. He chose a Lincoln that cost about $5K so he added some of his own $$ and took out a loan for about half of it. DD doesn't make enough money to buy a car but we just paid about $1200 for a used car from his sister for dd to drive-it doesn't make sense to keep driving her to work with the price of gas and miles on the car since she works about 20 miles away. If she decides she wants to keep it, I guess we'll give it to her since it cost less than the $1500 we gave ds (he insists he's going to pay it back but I'm not holding my breath).
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Post by Katiepotatie on Apr 7, 2019 19:54:21 GMT
Yes, for a couple reasons...our parents helped us with our first cars. We were financially able to help. And we believe that her job right now is to be a student.
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Post by Zee on Apr 7, 2019 19:58:57 GMT
I gave her my old car. I helped her buy her 2nd car by cosigning and giving her a down payment. DS, we co-signed, but he didn't want financial help because that's how he is.
I'll probably never stop offering them financial help, but they generally don't ask. I'm happy to be able to do for them what my parents couldn't do for me. I work hard and you can't take the money with you. I could save it all for when I die, but it makes more sense to help them when they're young and I'm still alive.
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Post by kitkath on Apr 7, 2019 20:22:28 GMT
We bought our kids a new car for their 16th birthday. The 26 year old is still driving hers. The 24 year old sold hers because she moved to the other side of the country and doesn’t need a car where she lives. We did it because we could afford it and never had to worry about repairs. Both girls were good students and year round athletes.
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Post by Lexica on Apr 7, 2019 20:23:46 GMT
My parents purchased a used car for my sister to drive when she was 16. It came to me on my 16th birthday. By then, my sister was in college and working part time. They paid 50% of her car payment and all of her gas and insurance and she bought her own used car.
Our school grades were tied to the use of the car. We got gas at one of my dad’s businesses, so that was free to us. If we brought home less than a B grade in any important subject, bye bye car until we pulled up the grade. I was a great student and always got all As because school and learning was fun for me. I still love learning new things.
With my son, he was living with his dad at 16 and dad gave him a truck. He moved back home with me at 18, so dad kept the truck because he felt abandoned and angry.
I helped my son buy a used car and split the payments while he was in collage.
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Post by gmcwife1 on Apr 7, 2019 20:29:10 GMT
Yes and no’ish Our oldest was a bus kid and didn’t even get his license until he was in his 20’s. We gave him my old car when we replaced it. I think he was 24 or 25 at the time. Our youngest is 19, works and goes to school. We bought a car to tow behind the RV. It seems to have unofficially become her car. She takes good care of it so I’m sure she’ll take it with her when she moves out. Our middle child is 29 and doesn’t drive or have a license. She takes the bus.
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Post by Basket1lady on Apr 7, 2019 20:44:31 GMT
We gave the kids my old van when DS started driving. I almost had to force him to get his license. It was as much for me as anything, as I spent a lot of time with carpooling kids around. When DH bought a new Jeep last summer, we gave the old one to DD. She was taking summer classes and would have had to use my van.
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Post by pynke on Apr 7, 2019 20:49:32 GMT
I kept my pre-marriage Camaro for my sons and none of them want to drive it. Our 16yo wanted a motorcycle so that's what we bought.
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Post by cmpeter on Apr 7, 2019 21:34:16 GMT
We handed down dh’s Pathfinder to ds when he got his license. For dd we would either buy her a car or hand down one of ours...probably buy her one as both of our cars are bigger than what she would want. We pay insurance, gas and maintenance while they are in school.
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Post by kelbel827 on Apr 7, 2019 21:47:51 GMT
Yes, for the reason that school was his job. He got good grades, he didn't need to work. Paid for college for the same reason.
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Post by myboysnme on Apr 7, 2019 22:17:08 GMT
I bought each of them a first car and a second car. I had a budget in mind and we went where I had found a few possible choices. I wanted them to have their own cars and it was a great relief to me when I didn't have to haul them around.
I had no stipulations on it at all, ie grades, etc.
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Post by myboysnme on Apr 7, 2019 22:18:59 GMT
I'll probably never stop offering them financial help, but they generally don't ask. I'm happy to be able to do for them what my parents couldn't do for me. I work hard and you can't take the money with you. I could save it all for when I die, but it makes more sense to help them when they're young and I'm still alive. I feel the exact same way. I even gave my daughter in law a car to drive my granddaughter around.
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Post by Pahina722 on Apr 7, 2019 22:32:30 GMT
We bought DH a new car and then passed his car to DS when DS got his license. Both DH and I had families in which our parents bought and maintained our cars while we put the gas in out of our own money. We chose to do the same with DS since we were financially able to do son; we figured it was his job to keep good grades in school.
So as long as he did (does), we will stick to that agreement. He’s going into his senior year of college, most likely able to graduate with more cash than when he went in because of his scholarships and careful budgeting. And he’s stayed on the Dean’s list the entire time. I’m glad that we have been able to contribute to that by not having him worry about car expenses.
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Post by calgaryscrapper on Apr 7, 2019 22:32:49 GMT
Check with your insurance company. Ours gave us a discount if the kids took driver training and had good grades.
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Post by ilikepink on Apr 7, 2019 22:48:53 GMT
With my oldest, I had this grand idea to surprise him with a car for Christmas. He had some savings, and we put some in as well. It was a good used car we got from a body shop; in very good shape. It didn’t work out that we had it for Christmas Day, but I wrapped the key up, and we got it the next day. And then...ten days later, he had an accident and totaled the car. He was ok, but I was heartbroken that my grand plan really fell apart.
Our plan had been for each of my DS to pay their own insurance and gas. When grades were good, we “gifted “ them a month of paid insurance. They each had jobs.
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AnotherPea
Pearl Clutcher
Posts: 2,968
Jan 4, 2015 1:47:52 GMT
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Post by AnotherPea on Apr 7, 2019 23:43:55 GMT
nope. I'd never buy a car for my child. Definitely not a new, teen driver.
What we did do, however, is allow them to drive an older car of ours. For our first child we just happened to have an extra car in the driveway when she got her license. I bought a new car for myself about six months before the second child started driving so she got my hand-me-down. A few musical cars episodes later and we bought a newer used car for her to drive, but the title is in our names. When she graduates college we will sign it over to her.
It may be a matter of semantics, but it makes a difference when the car belongs to us outright. We've always paid for insurance and typically pay for gas. I didn't want my kids working during school.
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Post by fredfreddy44 on Apr 8, 2019 0:30:27 GMT
All our teens inherited hand me down cars. We paid for all their insurance as well. And gas to school. Gas to fun places they had to pay themselves, plus if they got a ticket they had to pay for it plus and the insurance increase.
That has not happened yet!
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Post by fredfreddy44 on Apr 8, 2019 0:32:31 GMT
I kept my pre-marriage Camaro for my sons and none of them want to drive it. Our 16yo wanted a motorcycle so that's what we bought. Was it a bitchin Camaro?
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AllieC
Pearl Clutcher
Posts: 3,059
Jul 4, 2014 6:57:02 GMT
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Post by AllieC on Apr 8, 2019 0:40:33 GMT
We told our daughter that we would match dollar for dollar savings from her job and birthday money etc. For us, kids having a part-time job is a very good thing as it teaches them so much. We wlaos found that friends of hers that didn't have jobs during high school found it much harder to find work when they went to university as they were competing with other 18 year olds that had been working for 3 years. Our dd worked about 8 hours a week plus more during school holidays and saved $7000 in 3 years. We bought a demo model small car which has been perfect for her. While she was at high school and studying we paid for petrol and insurance etc. We didn't have any tie to grades but our dd was always working hard at her school work so we didn't feel the need.
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Miss Cleo
Full Member
Posts: 137
Jun 27, 2014 2:58:47 GMT
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Post by Miss Cleo on Apr 8, 2019 0:58:18 GMT
Two of my kids drive. Both were given cars. They have to uphold my car care standards, so they probably wish they weren't. LOL
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Post by AussieMeg on Apr 8, 2019 1:05:54 GMT
DD's dad told her he would match whatever she was able to save up, so he ended up paying for half of her car. I couldn't afford that but I paid her first year's registration (or was is insurance?) and roadside assistance.
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Post by peano on Apr 8, 2019 2:50:03 GMT
DS received money from his grandfather to purchase his first car. He did the research and test driving and made his decision based on cars he liked best for his budget. He bought a new car, which I liked because of the added safety features. We pay insurance and gas comes from a monthly allowance I give him.
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Post by workingclassdog on Apr 8, 2019 14:10:00 GMT
Our old car got passed down to them so yeah I guess we 'helped' them. They paid for gas and upkeep though. Insurance we paid. My two oldest had to share it though. They both bought their own cars after that though. When DS was in the AF (directly after high school) and bought his first car on his own, then insurance and everything was on him. Basically same thing for DD. Once she got a loan for her car, insurance/upkeep was on her. She is in college as well with a full time job and an internship.
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Post by lbp on Apr 8, 2019 15:25:00 GMT
We bought DS's first call though it was a used car. We paid for insurance and he paid for gas.
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Post by jlynnbarth on Apr 8, 2019 15:36:12 GMT
We told our kids we would match wathever they saved to buy a car at 16. Our ds bought our old Ford Ranger my dh used to drive and he paid us 500.00 for it, which was about 1/2 of what we could have sold it for. We paid insurance as long as he maintained a b average.
My dd (since we didn’t have a second old car) saved 600.00, so we matched her 600.00 and she picked out a 1500.00 Ford Taurus that a frien’s Mom was selling. My dd negotiated it down to 1200.00. We paid the insurance as with my ds.
They both got 20.00 a week from us for lunches before they turned 16. We told them they could use that money for whatever they wanted, be it lunch, gas, whatever. There was always food in the house for them to make their lunch if they used it for gas. They were only a year apart in school and 22 months apart in age, so they took turns each week driving to and from school. One week they would buy gas for their cars and one week they would buy lunch. It worked for them. Neither could work during the school year due to school and sports, but they did work during the summer and would save as much as they could to help offset any extra spending during the school year.
Both cars lasted them through high school and college and then they sold them and bought newer vehicles.
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Post by Merge on Apr 8, 2019 15:45:23 GMT
We handed down DH's 2009 CRV to the oldest when he got a newer car. We pay for everything except gas (we do sometimes give her gas money when she is driving her sister around at our request). The younger one should be getting her license this summer and we plan to get an inexpensive cash car for her.
It's a matter of convenience for us as much as freedom for them. We're ready not to be driving kids around any more! 😂
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iluvpink
Pearl Clutcher
Posts: 4,298
Location: Michigan
Member is Online
Jul 13, 2014 12:40:31 GMT
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Post by iluvpink on Apr 8, 2019 16:22:02 GMT
We will be doing so soon. DD will soon be 19. She is graduating from high school a year late for health reasons. Those health reasons have also severely limited her ability to work part time jobs in high school. She has done a little working at a local tea shop the last year. But it was only a few hours a week. And she has done some dog sitting for a friend.
We live in a small town outside a small city. Public transportation is nil. We will be buying a car soon (she has her permit but still needs more practice and to take the road test). Not sure if it will be used or new. As soon as she has her license and has a part time job she will need to pay for gas, basic maintenance and the insurance. We will pay the payment and any major repairs (if used and/or no warranty).
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mlana
Pearl Clutcher
Posts: 2,523
Jun 27, 2014 19:58:15 GMT
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Post by mlana on Apr 8, 2019 17:12:11 GMT
My 2 kids were in very different situations, so we did things differently for each of them.
DS had no intentions of going to college - he wanted to work for our company and started interning at 14. By the time he was 16, he was making really good money. We started him a savings account when he was 12 and told him that everything he had in there when he was ready to buy a car, we would match. I think he had about $1500 and we matched that. We found a great deal on a Saturn that was pretty much brand new and I financed the car and he made the payments on it as well as paying for his gas and maintenance. DH and I paid his insurance and the company reimbursed him for mileage. When he got a speeding ticket, he had to pay the increased costs for our insurance.
Before the car was paid off, DS got involved with someone who helped him make some really poor choices. One of this coaches was to sell his neat little sports car that got great gas mileage and required little in the way of maintenance and buy a big engine muscle car. I refused to allow him to sell or trade the car and he gave me back the keys. This was not financial issue for us, we could finish paying it off, but it did create a rift. The rift got deeper when his choice of cars turned out to be a real lemon and he was stuck with huge payments and no working vehicle. By the time it died, he had left our company and moved across country, so he had no job, no wheels and a lot of debt. It was really hard for him to admit that not only had he been wrong, but he had been dumb wrong. He did recover though and is now doing really well. He calls and asks me for financial advice occasionally.
DD was always bound for college. We planned for her to drive her brother's car, since I had finished paying it off, until she finished college. Unfortunately, the car was one of the Saturn's with the bad transmission and it died her sophomore year. I had also just had a vehicle die, so I bought a car and let her use it until she went to China for her Junior year. When she returned, I bought a vehicle for me and let her keep the car. When she graduated from college, she finished paying off the car - there were only about 5 payments left - and it became hers. We had intended to pay for her college but we weren't able to pay past the first year due to DH's bad health. She took out student loans and is paying them off and they are about the same amount as the car payment. She is grateful for the car and for the year we did pay for, so we are all okay with how it turned out.
Do what works for you family, but realize that things, and teens, change. I had made sure from the beginning that if DS couldn't pay for the car, we could. I had hoped that having a ca payment would keep him steady, maybe keep him from doing something stupid, but it didn't. If you are going to insure the vehicle, make sure your name is the one on the title.
Marcy
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