Buying car for HS kid (only child) who is going to college in 2 years?

[Anonymous]

Why don’t you take your car back? Put that money into his education fund.

[Anonymous]

Mine left my hand me down car at home his freshman year. He just took it with him for his sophomore year. He was only at school from early September until early May so the college school year isn’t that long.

[Anonymous]

Anonymous wrote:It sounds like it would really help YOU for him to have a car these next two years.

Perhaps it would help to reframe the decision that way. How will this help you? It's not necessarily a $15K outlay if you choose to sell the car in two more years. Used cars don't depreciate as fast as new cars, so maybe it's a $3-5K decision (plus insurance) for the next two years.

And if he needs the car for college in 2 years, then you'll be glad you already bought one, and don't have the additional outlay when college tuition is due. He can get a part-time job to help contribute toward the monthly cost.

Thanks for this too. TBH, I was already thinking that the car was really for me and that was making me feel a little guilty for some reason.

But thinking about it as a necessity for 2 years is a really helpful way to think about the money piece of this.

[Anonymous]

Another option is leasing for a couple of years. You’d get more advanced safety features and crash protection than a used car might offer (important for young drivers), the up-front and monthly costs are lower than a used car, you’re less likely to have to pay for repairs, and you won’t have an extra car sitting in the driveway when DS goes off to college.

That being said, many leases come with mileage restrictions, typically about 12,000 miles a year. And when the term ends, you’re responsible for any dings, stained upholstery, etc. beyond normal wear and tear. But it’s something to consider if you’re not ready to commit to buying another car yet.

[Anonymous]

You and Kid should use Lyft

[Anonymous]

Get the car - it'll be worth every penny and more!

DD got her license this summer, and the first month of sharing the car was surprsingly stressful. Not because she was being difficult - she was not. But because the constant need to plan and communicate timing and needs was time-consuming and irritating for us both.

Once DH and I found and bought a used car that met our criteria, everything got MUCH easier and happier in our house. Especially for ME!!! DD is incredibly grateful for the car and the independence it brings, and I'm grateful for the immediate drop in demand for my car and my time re coordinating plans.

Two years is a long time to try to share one car among three people. If done right, gettting your DC a used car can be a growth opportunity for all - for him to be more independent (and show he's responsible) and for you and DH to engage him as more of a young adult rather than a child you have to drive around or coordinate with constantly.

Once DC leaves for college, you can either sell the car or hold onto it for school breaks, when he will likely be in and out of the house constantly to see his friends. Either way, you'll get your money's worth!

[Anonymous]

I would buy the car for your husband and kid can use it.

[Anonymous]

Anonymous wrote:Another option is leasing for a couple of years. You’d get more advanced safety features and crash protection than a used car might offer (important for young drivers), the up-front and monthly costs are lower than a used car, you’re less likely to have to pay for repairs, and you won’t have an extra car sitting in the driveway when DS goes off to college.

That being said, many leases come with mileage restrictions, typically about 12,000 miles a year. And when the term ends, you’re responsible for any dings, stained upholstery, etc. beyond normal wear and tear. But it’s something to consider if you’re not ready to commit to buying another car yet.

This is what I’d do. Lease a car for you. You can buy out the lease, get a new car or go back to one. The payments will likely be lower too

[Anonymous]

Anonymous wrote:

Anonymous wrote:Another option is leasing for a couple of years. You’d get more advanced safety features and crash protection than a used car might offer (important for young drivers), the up-front and monthly costs are lower than a used car, you’re less likely to have to pay for repairs, and you won’t have an extra car sitting in the driveway when DS goes off to college.

That being said, many leases come with mileage restrictions, typically about 12,000 miles a year. And when the term ends, you’re responsible for any dings, stained upholstery, etc. beyond normal wear and tear. But it’s something to consider if you’re not ready to commit to buying another car yet.

This is what I’d do. Lease a car for you. You can buy out the lease, get a new car or go back to one. The payments will likely be lower too

Yep, I’m generally not pro leasing for myself, but your family’s situation is perfect for this. But I wouldn’t give the kid the leased car. I’d have the kid drive the existing family car and you get the leased car.

[Anonymous]

Would reframing it as adding a 2nd car to your 3 person household help? Not necessarily buying a car for your kid?

[Anonymous]

Get a cheaper car. We bought a car for son's 17th birthday. He drove it for a year (not driving to early morning swim practice was worth the cost of the car alone!) before heading to college (not allowed to have a car on campus the first year.) We kept the car at home, we drove it on the weekends, etc and then he took it back his sophomore year. We bought something that will retain decent value.

[Anonymous]

We bought ours a car when they started driving in HS. We both needed our cars for work and our cars were bigger than we wanted to pass down to a new teen driver. They drove it throughout HS then took the car to college. Kept it for a few years after college until someone hit them and totaled it.

[Anonymous]

We bought a third car (have a commuting dh and twins in an ex-burb who drive to separate sports) and it's been very worth it logistically. Just paid it in full. Our second car is ancient so eventually we will be down to two cars.

[Anonymous]

I say get the car now. We bought the new Cr-V primarily for my firstborn to drive when he was that age. He drove his brother to HS last two years.

I always considered it 'his car' even though we never told him it was his. We have a very old car 2006 that we use for very short trips, non-highway and then a larger SUV and the newer Cr-v.

Boy, those last years it came in handy. There were times when husband needed a car, I was using one to drive brother to a far-off game or nightly practice and older son was using one to drive to his practices in different location...and we live in a very walkable/metro-accessible area. Older son's friends also were short drives--but not close enough to bike, walk and they weren't near metro--so used it a lot then and for a summer job at sports camps that had different locations around the DMV.

I also felt safe with him in a brand new safe car ---not worrying about breaking down and better safety features, back-up camera.

He will take it next year as a college sophomore---though possibly even this year we might drop-it off due to a sport that requires travel not supported by the university (outside the university). For now, he was doing bus line, zipcar and uber.

[Anonymous]

Anonymous wrote:Why don’t you take your car back? Put that money into his education fund.

+1