Would you buy your adult kid another car

[Anonymous]

OP here- This was for DH's nephew. They offered to pay but he declined and bought a basic Kia one on lease. I only know as they were visiting us and doing online car browsing. Their problem solved itself. He is a good kid even though spoiled.

[Anonymous]

Even if the repairs cost more than the car itself, they’re likely cheaper than buying a new (used) car outright.


To answer your question directly; I’d absolutely give cash towards a car or buy DC a car outright if I could afford it. I’d much rather they put $400/mo towards their retirement when they’re younger and can let it compound for 30+ years than a car payment.

[Anonymous]

Anonymous wrote:OP here- This was for DH's nephew. They offered to pay but he declined and bought a basic Kia one on lease. I only know as they were visiting us and doing online car browsing. Their problem solved itself. He is a good kid even though spoiled.

This is such a strange thread. How is he "spoiled" if he DECLINED his parents offer to pay and bought something that was within his price range?

When I was in my 20s I paid for my own cars BUT my parents helped me a lot by cosigning on a loan since my credit was not great. It made the difference between having a 7% apr and 1% APR on a loan for a car, so I ended up with a very affordable payment. It was a huge help to me and they knew I was responsible and wouldn't miss payments.

[Anonymous]

Personally, a used car is a great car - you're not talking about a $500 car, right? But a 5 year old car is a perfectly wonderful car and isn't as expensive as a new car that will start losing value within seconds of purchasing.

I'd let them buy their own car, something THEY can afford.

[Anonymous]

Anonymous wrote:

Anonymous wrote:OP here- This was for DH's nephew. They offered to pay but he declined and bought a basic Kia one on lease. I only know as they were visiting us and doing online car browsing. Their problem solved itself. He is a good kid even though spoiled.

This is such a strange thread. How is he "spoiled" if he DECLINED his parents offer to pay and bought something that was within his price range?

When I was in my 20s I paid for my own cars BUT my parents helped me a lot by cosigning on a loan since my credit was not great. It made the difference between having a 7% apr and 1% APR on a loan for a car, so I ended up with a very affordable payment. It was a huge help to me and they knew I was responsible and wouldn't miss payments.

OP is the judgy aunt, calling her nephew spoiled and questioning her sibling's parenting. The worst kind of relative.

[Anonymous]

Anonymous wrote:We can afford it, so all our kids have always had cars we have purchased outright (used, not new) and we have our family insurance agency process the policies. We also pay their premiums

"Take out a car loan like everyone else" is a very bad financial decision. Your 25K car ends up costing 50K. GREAT ADVICE

We also just paid the hospital delivery and NICU bill for our son's gf who had our grandchild without their being married. Big whoop, it's our money.

Somehow there seems to be a message that everyone needs to pretend to have come from a working class background and made all their money from "hard work" when it's usually anything but.

If you're hoarding money like some dragon while your kids can't make rent or bills, what was the point of your making money? Truly? What was your goal?

DP. You made many good points. Congratulations on your grandchild. They are priceless.

[Anonymous]

Anonymous wrote:We can afford it, so all our kids have always had cars we have purchased outright (used, not new) and we have our family insurance agency process the policies. We also pay their premiums

"Take out a car loan like everyone else" is a very bad financial decision. Your 25K car ends up costing 50K. GREAT ADVICE

We also just paid the hospital delivery and NICU bill for our son's gf who had our grandchild without their being married. Big whoop, it's our money.

Somehow there seems to be a message that everyone needs to pretend to have come from a working class background and made all their money from "hard work" when it's usually anything but.

If you're hoarding money like some dragon while your kids can't make rent or bills, what was the point of your making money? Truly? What was your goal?

How bad is your credit? My last car loan was at 0.99%. I’m looking at the same rate today. That does not double the price of a car.

Independence is priceless.

[Anonymous]

Anonymous wrote:OP here- This was for DH's nephew. They offered to pay but he declined and bought a basic Kia one on lease. I only know as they were visiting us and doing online car browsing. Their problem solved itself. He is a good kid even though spoiled.

How is this kid spoiled? This is your post.

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?

Leasing a kia and not getting help is not spoiled. A good parent who can afford to fully pay for an education will.

[Anonymous]

Anonymous wrote:

Anonymous wrote:OP here- This was for DH's nephew. They offered to pay but he declined and bought a basic Kia one on lease. I only know as they were visiting us and doing online car browsing. Their problem solved itself. He is a good kid even though spoiled.

How is this kid spoiled? This is your post.

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?

Leasing a kia and not getting help is not spoiled. A good parent who can afford to fully pay for an education will.

Op is clearly so out of touch. Driving a non fancy car you can afford in your 20s is pretty common.

[Anonymous]

They can buy used.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:OP here- This was for DH's nephew. They offered to pay but he declined and bought a basic Kia one on lease. I only know as they were visiting us and doing online car browsing. Their problem solved itself. He is a good kid even though spoiled.

How is this kid spoiled? This is your post.

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?

Leasing a kia and not getting help is not spoiled. A good parent who can afford to fully pay for an education will.

Op is clearly so out of touch. Driving a non fancy car you can afford in your 20s is pretty common.

She's out of touch and overly enmeshed, which is a terrible combination. I can't imagine publicly musing about what a sibling of mine might do or not do regarding a vehicle for their adult child.

[Anonymous]

You could help them buy a less older used car. Why did the original car only last ten years?

[Anonymous]

If you are making breakfast while this discussion is going on in your kitchen, thought comes to mind of how people deal with such situations. Obviously, I didn't give them any advice.

[Anonymous]

No. This is enmeshment. It's not fair to your other kids. It's creating a co-dependency. Let them be!

[Anonymous]

Reminds me of an instructional assistant at my DH's elementary school in Vienna who rolled up one day in a customer BMW. The car cost at least 5x her annual salary and she's single and in her 40s so all the parents were wondering how she could afford it. Turns out bank of dad has been enabling her and bailing her out of any life lessons. Quickly became a "don't grow up to be like her" story.