BMW x3 for 17 year old?

[Anonymous]

What has she done to earn a car like this? Graduating from high school is a pretty low bar to set for extravagant gifts like this.

You will obviously do what you want and you don't have a problem with it in theory because you bought your son one, so the daughter does have a point. But just know that she will absolutely look spoiled driving around in a car like that.

My kid graduated from high school and is completing her first year of college from a top school, and we are buying her a new car this summer. Our max budget we are willing to spend is $10k, and we think that is reasonable and the associated costs (gas, insurance, maintenance) are manageable for a young adult in college.

[Anonymous]

Yeh this is overboard I got a bmw 3 for graduating college

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:It's not about whether YOU can afford it. Think about this. Your child goes to college, graduates, and is now working on her own. Can she afford to keep up this car? If it dies and she must replace it, can she afford one as nice or is she now going to be buying a more reasonable car? And what does that tell her? Do you think she will value the hard work that went into buying her own car? Nope. She will be resentful that she can't drive a BMW as she's accustomed. And if one day she does reach the point where she can afford to buy one, will she really have felt she "made it" and appreciate the accomplishment of finally being able to afford a nice car? No because she was just given one at 16. My husband couldn't afford a really nice car til he was 40 and it was such a treat for him to buy it. All his work had paid off. Giving a 16 year old that car is cheating her out of the satisfaction of ever working for it.

THIS +10000

I tend to agree with this- even in college when I knew girls who had handbags that were in the $500 and up range, etc. I always wondered, OK will your parents be buying you clothes and cars and everything else until you are in your 30s? Because entry level grads (even with daddy's hook up to a cushy job) just can't sustain that lifestyle. Isn't that a big let down?

I'd like to give my kids more than I had, which won't be particularly hard, but I am reluctant to hand them luxury level anything. I don't think it makes for a very well rounded or aware person (most of the time, of course there are exceptions) when that is your norm and you inevitably end up in a bit of a bubble.

Agree. I've found that many of these kids grew up and were unable to find a spouse. My sister in law is a great example. My in-laws continue to support her and her luxury goods at 30.

[Anonymous]

Anonymous wrote:Yeh this is overboard I got a bmw 3 for graduating college

That's rather ridiculous, as well.