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[quote=Anonymous]DD just turned 16 and has proven herself a trustworthy driver. Now we have to figure out what she will drive. She DOES have a job and will be paying towards her insurance, and using the car primarily to get to/from school/work. We don’t plan on allowing her passengers yet.

My current car is 7 years old, a small SUV, KBB lists it as valued around $4500 if we were to sell it. We are considering letting her purchase it from us for $2250, which we will add to the money we will use on a new down payment on MY new car.

We know the car has low mileage (I WFH) and that it has no issues. I don’t think we could BUY her a better used car. But now that it’s time to do it, I can’t help but think that this car is SO NEW and NICE! (When I was 16 I got my first car, it was only 6 years old but it was so outdated and a piece of junk!) We came up with this plan around the time she was 13 or so, and planned our finances around doing this, so we really already planned on a new car, it just feels so strange now that it’s time to do it!

I’m curious what parents at a similar place in life think about this plan! [/quote]

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