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Reply to "$$$ car for trust fund kid?"
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[quote=Anonymous]The average price of a new car is $48k right now. $20k is a very reasonable amount to spend on a first car— that’s what 4-5 year old Corolla with 40-50k miles is going to cost. Whether the teen should buy a car is a different question but if they are prepared to pay for gas, maintenance and insurance and the trust allows it then arguably it is the kind of expense the trust was set up to cover. [/quote]
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