Would you buy your adult kid another car

[Anonymous]

I would contribute to the cost of a low-maintenance, reliable Japanese Toyota or Honda.

To be honest, I'm not sure you're picking the most reliable cars. We've been driving our Toyota Corolla for 21 years as a family. That thing refuses to die.

[Anonymous]

Anonymous wrote:They can get a car loan like everyone else

+1
Also, what you do for one, you do for all. Don’t be THAT parent.

[Anonymous]

Are they living within their means? Or can they not afford it because they eat out all the time, spend a ton of money on the best haircuts and clothes, drink a ton of alcohol. Do they know how to be frugal?

That would change my answer.

[Anonymous]

Anonymous wrote:

I would contribute to the cost of a low-maintenance, reliable Japanese Toyota or Honda.

To be honest, I'm not sure you're picking the most reliable cars. We've been driving our Toyota Corolla for 21 years as a family. That thing refuses to die.

Yeah, I'd be interested to know if that 10 year old car was purchased new or used.

[Anonymous]

I would not.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Do you have a car? Give them yours and get the new one for yourself.

I like this.

This is our strategy with our kids who aren’t launched, yet. I don’t want them spending money on cars. I want them to save.

[Anonymous]

I would if it was very, very affordable for me. But I would just give them cash and let them decide what to spend it on.

[Anonymous]

I've done it as a graduation gift from grad school. Traded in the old car. DH and I can afford it and this will get him through his 20s in a safe but unsexy car.

[Anonymous]

No.

Let them take public transport or save to afford their own car. You've done enough. Back off and let them be an adult.

[Anonymous]

Anonymous wrote:"you don't want them to buy an older car within their financial range"

This is wild.

+100

[Anonymous]

Anonymous wrote:Are they living within their means? Or can they not afford it because they eat out all the time, spend a ton of money on the best haircuts and clothes, drink a ton of alcohol. Do they know how to be frugal?

That would change my answer.

+1

Those darned youngsters and their avocado toast ways! If they are eating avocados don't you dare help them with a car!

[Anonymous]

We have three kids, and we bought each of them a brand-new Lexus IS 350 in cash upon college graduation. We also pay for their car insurance, food, and phone bills. All three kids live at home rent free for the first three years while working, saving up 90% of their after-tax income before moving out.

[Anonymous]

I would buy a reliable Toyota for them. Maybe a Prius. Take it or leave it.

[Anonymous]

Anonymous wrote:We have three kids, and we bought each of them a brand-new Lexus IS 350 in cash upon college graduation. We also pay for their car insurance, food, and phone bills. All three kids live at home rent free for the first three years while working, saving up 90% of their after-tax income before moving out.

+1

Different car but same thought-process.

We want to make sure that they are driving a car that is brand new and with the latest safety features.

[Anonymous]

Anonymous wrote:What if you bought them a car when they learned driving but after 10 years but it stopped working and needs to be replaced as repairs would be too costly.

They finished college and grad school, which you paid for, they have a decent government job but live in HCOL area and can't afford to buy a new car. Would you help them buy a new car? You also paid half of their rent for first two years but they are fully independent now.

You are UMC, have job, home and 401k and savings but about to retire in a couple of years and spouse was low pay and part time with gaps so mostly dependent. Two other kids got done with education couple of years ago and working full time at entry level corporate jobs but in LCOL areas so have some savings.

They aren't asking for help but you don't want them to buy an older car within their financial range due to their daily commute. Would it be wise to pay full or partial payment of a new or newer car?

Doesn't really sound like it if you're buying them a car