If you bought your teen a car (or will buy them a car)...questions about money.

[Anonymous]

How many kids do you have, and how many years apart are they? we have six kids. there are two older ones (post-college) and four younger (early high school to late elementary)

What is your HHI? low seven figures

What kind of car did you buy them (and was it new? used?) we only buy used. new is such a waste of money

Did you get any type of "outside help?" Like did a grandparent contribute some money? grandparents pay for college and grad school for four of the six kids

Did you feel you had to sacrifice in other areas (vacations, home renovations, etc) to afford the car? nope

[Anonymous]

Why does it matter what others do or how they spend their money? You decide whats best for your family.

[Anonymous]

We will buy a safe used car next year when DC#1 gets a license. Who will drive that car isn't set yet...it'll either be DC or DH with the other driving DHs current car (also far from new!). There will be no outside help and no sacrifices; we've had this in our budget for a while. We'll pay insurance, the kid pays for gas. DC #2 is 3 years younger, so #1 will have left for college by the time there's another driver in the house and the car will just be passed down.

[Anonymous]

Anonymous wrote:These responses are comical, since most of what I see in our UMC NOVA community are new, expensive cars. Not the 2K beaters and used cars people are saying they bought their kids.

Huh. My kids are at a very UMC NoVA high school, and I see TONS of 10-15 year old Accords, Camrys, etc. in their student lot. I think the fancy cars just stick out more- that's why you notice them.

[Anonymous]

We might have to buy DD a violin that costs as much as a new car, so there won't be a new car specifically for a child. Our plan is to replace our oldest car, which is on its last legs, choose something with all the new safety features, and let everyone use it. We will remain a two car household, shared between 4 people.

[Anonymous]

Hand-me-down from in-laws. Gently used 2003 Civic given to us for free. Our second kid will get something comparable.

Getting each to drive is key to my sanity. I work full-time with a long commute and carpool for all their activities is going to end me.

[Anonymous]

Planning on giving DS our Tesla Model S, P100D. Getting myself the Tesla Roadster. By the time DS is old enough to drive in 4 yrs, I'm hoping the car is fully autonomous, level 5 not 3 as it is now. We will trade in our Tesla S in 2 yrs so he'll be getting a 2 yr old car.

[Anonymous]

Bought my kid a new car that he wanted, was under 20K. Kid's younger sibling will drive it next when they get their license and older sibling will be away at college.

Bought it to save me time and money and give my kid independence and also driving practice. It's been great.

[Anonymous]

Anonymous wrote:Planning on giving DS our Tesla Model S, P100D. Getting myself the Tesla Roadster. By the time DS is old enough to drive in 4 yrs, I'm hoping the car is fully autonomous, level 5 not 3 as it is now. We will trade in our Tesla S in 2 yrs so he'll be getting a 2 yr old car.

That's pretty selfish. Kid should get the roadster.

[Anonymous]

We to buy a lightly used (3-5 years, decent mileage) Honda or Toyota for each kid. HHI is $275k. We will pay cash and not have outside help.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Planning on giving DS our Tesla Model S, P100D. Getting myself the Tesla Roadster. By the time DS is old enough to drive in 4 yrs, I'm hoping the car is fully autonomous, level 5 not 3 as it is now. We will trade in our Tesla S in 2 yrs so he'll be getting a 2 yr old car.

That's pretty selfish. Kid should get the roadster.

Kid agrees with you

Planning on test driving the McLaren 720S, 600LT, Lambo Huracan Performante, Avatador, Ferrari F8 and 812 Superfast, Aston Martins DBS Superleggera, etc... before buying the Roadster.

[Anonymous]

Anonymous wrote:

Anonymous wrote:These responses are comical, since most of what I see in our UMC NOVA community are new, expensive cars. Not the 2K beaters and used cars people are saying they bought their kids.

Huh. My kids are at a very UMC NoVA high school, and I see TONS of 10-15 year old Accords, Camrys, etc. in their student lot. I think the fancy cars just stick out more- that's why you notice them.

My dd just finished HS, MCPS, Sherwood and there were ton of Toyotas and Honda sedans, used, but also a lot of brand new Jeeps, one girl got a Tesla, GMC suvs, Chevrolet suv, many new, some barely used. But, you know Sherwood is not a UMC school according to dcum, so maybe standard of living in truly higher in MC MoCo areas?

[Anonymous]

Does letting him drive my 8 year old Subaru count? I am buying myself the new car. $250,000 HHI. One kid.

[Anonymous]

Will be a later model but definitely not new (just the newer.safety features, like all the airbags I can get in a non luxury model). Child will pay for at least a third. Will be expected to pay gas. Two years apart so the car is definitely a shared vehicle owned by parents for their use. Which might be semantics but I remember that difference in framing being important for my friends in HS that got cars (I did not until I was 21). Probably like 14-16k. Being 100% honest we won't really feel it financially.

[Anonymous]

Anonymous wrote:Will be a later model but definitely not new (just the newer.safety features, like all the airbags I can get in a non luxury model). Child will pay for at least a third. Will be expected to pay gas. Two years apart so the car is definitely a shared vehicle owned by parents for their use. Which might be semantics but I remember that difference in framing being important for my friends in HS that got cars (I did not until I was 21). Probably like 14-16k. Being 100% honest we won't really feel it financially.

How are you going to make the oldest pay for 1/3, but then say it’s owned by you, and is to shared with the other (non-paying) sibling?