how to analyze

[Anonymous]

I have a 2015 car worth about $22k in trade in per Kelley Blue Book's online calculator. I have a teen soon to get her drivers license, and another in 2 years. It would be helpful to our family for teen to have a separate car, which I will buy and teen will pay for gas and maintenance.

Ideally I'd spend around $15k-ish to get her a gently used car like a honda accord. But used car prices are so high that I'd have to spend more like $25k, and availability is so low. Ditto new. So I started to think, perhaps it is better to give her my current car and buy myself a new car.

My current car is a nicer make/model than I ever would have bought her, but it is used by me and since it was bought 6ish years ago it was a much better deal than I could get today. The maintenance costs will be higher for her since it is a luxury-ish car.

Also, this will cost me more out of pocket right now, because I'd probably get myself something in the $35k range (like a new Accord hybrid) vs buying her the $25k used Accord. But I'd have a new car which presumably I'd have bought for myself in 5ish years anyway.

I'd appreciate people's thought on how to best analyze the options from a cost perspective over time.

[Anonymous]

Are there differences in insurance costs for either your old car or the new/used Accord? Teens have pretty high rates.

[Anonymous]

^^ Excellent point PP.

Most especially if they are young MALES. 😯