Would you give your child this car?

[Anonymous]

You sound focused on all the wrong things.

Teens can drive any car as long as they're reasonably safe. No, it's absurd to force them to have skin in the game. Most teen brains don't think like that, so it's not helpful, and most teens are naturally decent and will do their best without threats or leverage applied. You can buy whatever new car if you want.

It's weird how you detail all these little entirely unimportant points. Just get your kid a car if you want her to drive.

[Anonymous]

Same question - my 7 year old RAV is worth ~$17k according to KBB. I think OP's understanding of her car as new and nice is deeply skewed if it's worth less than $5k.

This is very hard to believe. I have a seven year old BMW X5 that I just ran through car max and my offer was $12k. Kelley Blue Book has it at about $14k for a private sale. My car is semi-loaded with no accidents, very good condition and original owner.

[Anonymous]

Anonymous wrote:

Same question - my 7 year old RAV is worth ~$17k according to KBB. I think OP's understanding of her car as new and nice is deeply skewed if it's worth less than $5k.

This is very hard to believe. I have a seven year old BMW X5 that I just ran through car max and my offer was $12k. Kelley Blue Book has it at about $14k for a private sale. My car is semi-loaded with no accidents, very good condition and original owner.

Not that hard to believe. Carmax is trade in value, private sale is higher. The 17k RAV4 might be retail value. Plus neither of you indicated mileage. Add the fact that used car pricing is very predicated on demand and some people might prefer 7yo RAV over a BMW X5 (I might as RAV is probably much cheaper to maintain). Not that hard to believe.

[Anonymous]

Used prices on rav4 and crv are insane right now. I’m shopping for one, and it’s actually easier to get a better deal on the Beamers and Audis. Not sure why.

[Anonymous]

Anonymous wrote:

Same question - my 7 year old RAV is worth ~$17k according to KBB. I think OP's understanding of her car as new and nice is deeply skewed if it's worth less than $5k.

This is very hard to believe. I have a seven year old BMW X5 that I just ran through car max and my offer was $12k. Kelley Blue Book has it at about $14k for a private sale. My car is semi-loaded with no accidents, very good condition and original owner.

Just took a look - the prices are pretty similar for 7-year old X5 and Rav4.
To be fair, one of these is a brand notorious for getting very expensive when the warranty runs out with an associated decrease in resale value.
The other is one of the most in demand models on the market with a strong reputation for reliability and long life.

My kid drives whichever car is available, usually the 19 year old Honda hatchback. It's fine.

[Anonymous]

Anonymous wrote:

Same question - my 7 year old RAV is worth ~$17k according to KBB. I think OP's understanding of her car as new and nice is deeply skewed if it's worth less than $5k.

This is very hard to believe. I have a seven year old BMW X5 that I just ran through car max and my offer was $12k. Kelley Blue Book has it at about $14k for a private sale. My car is semi-loaded with no accidents, very good condition and original owner.

I can believe it. I found when looking for used cars that Toyotas maintained their value more than European cars. Also, neither you nor the Toyota state the number of miles your cars have.

[Anonymous]

I would not give my teen an SUV. An SUV is a luxury vehicle whether those who drive them want to admit it or not. They also cause more damage and injuries to other drivers in a crash. If you want her to have a car buy her a 10 year old basic sedan.

[Anonymous]

I wouldn’t make my kid pay for a hand me down car. I would give it to her. She seems responsible and is helping to pay for the insurance- I would want to reward that responsibility.

[Anonymous]

Anonymous wrote:I would not give my teen an SUV. An SUV is a luxury vehicle whether those who drive them want to admit it or not. They also cause more damage and injuries to other drivers in a crash. If you want her to have a car buy her a 10 year old basic sedan.

They’re safer for the driver, though. As far as weight goes, 3500-4000 lbs is the point that maximizes driver safety without ridiculously increasing danger to others. A small SUV is just about right.

[Anonymous]

How is a very low mileage, 7 year old compact SUV worth only $4,500 even if it is a basic model?

The only way this would be true is if it had something really wrong with it that is a red flag, like a salvage title and being rebuilt after a wreck in the aftermarket, in which case safety is a concern.

[Anonymous]

Anonymous wrote:Used prices on rav4 and crv are insane right now. I’m shopping for one, and it’s actually easier to get a better deal on the Beamers and Audis. Not sure why.

Because toyotas and hondas are know for reliability even as they age and get higher in miles, while BMW/Audi is known for crapping out and being terribly expensive to repair, so once they are off warranty they tank in value.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Why are you making her buy it from you?

To learn some financial literacy and responsibility, also in the hope she will have pride of ownership because she bought it? Seriously? Parents don’t do this anymore? Well, we are doing it.

No, that's not financial responsibility and then you lose control of the car. You cannot take away the keys and tell her no car if she owns it. She should take care of it or she loses it, simple.

We will pay for gas and insurance and kid will get a very old car to drive but it’s still OUR car, at 16 and that car will be replaced. When they work, they will put the money away for college for spending money. I would never give or buy a child a car in less we had no other option (like the car died and they need it it vs. want it).

I guess I disagree. She can’t drive it without insurance and she can’t secure that (or afford it!) on her own. But my question was about whether or not a seven year old car was too new, and I understand you think it is, so I will accept your input on that!

I think your plan is just fine. There is plenty of life left in the car but it's new enough to have reasonable safety equipment. After many years of clean driving, our HH has had some claims and we are living with some cosmetic damage from our learner. Remember the most important thing is always the safety of your child, followed by reliability. Tech is changing faster now due to computerization. So a really old car lacks protection. More than 10 years old, I'd be looking for something else.

If you want to make your child pay for it, I see the value in that approach. Parents usually have a larger picture of how they teach financial responsibility. This fits.

Your valuation seems very low. Maybe that's dealer trade-in. Car prices went up during the pandemic. You want to hang on to well-maintained older cars if you can. Keeping this in the family is smart.

I wouldn't put a new young driver in a brand new car because any mild fender bender is $2K now. Cosmetic damage is also costly. My kid brushed a rear view mirror in a way that broke the hinge. That's going to be $400 because I can't DIY it. The power function and side blind zone still work perfect but the mirror shaft requires duct tape to immobilize it.

Good luck, OP. Safe drives!

I agree. The sweet spot is a few years old, and a mainstream brand that will be up to date with safety features but still relatively easy to fix and find parts/paint for in case of cosmetic wear and tear (that tends to mean the mainstream Japanese and American brands).

[Anonymous]

How is a 7 year old car SO NEW! and SO NICE! ?? We replace our cars every 10 years, your car is nearing the end of my personal vehicle lifecycle.

You need to think about how you need this car to last her several years. If this has been your plan, move forward.

[Anonymous]

Anonymous wrote:I would not give my teen an SUV. An SUV is a luxury vehicle whether those who drive them want to admit it or not. They also cause more damage and injuries to other drivers in a crash. If you want her to have a car buy her a 10 year old basic sedan.

What? That's a very bizarre assessment.

[Anonymous]

Anonymous wrote:I think your plan is fine.

We have a Subaru CrossTrek for our daughter to use. It's low miles (about 10,000) and new enough to have all the safety features, which was important to me. We don't call it her car. It belongs to us but she can use it with permission. She drives to school and to practice, but she doesn't have free rein to drive wherever and whenever she wants at this point.

This is the answer. If you work from home, and can't really afford to do this (I assume if you have to put this much thought into it, affordability is an issue). I mean, does she even want to buy a car? I'm sure there's a feeling that she's learning the "value of hard work," and all, but I think it's our basic responsibility to enable our children to get school with our assistance. Not require them to work and buy their own car.