Reply to As long as teens are studious, is there any harm in giving them a nice car?

Forum Index » Tweens and Teens

Reply to "As long as teens are studious, is there any harm in giving them a nice car?"

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous][quote=Anonymous]Baseline question OP.  It sounds like you have at least 3 kids.  Do you have their college educations all fully funded?  And not UVA/VT/UMD/ you’ll get a scholarship somewhere/ everyone takes out some loans fully funded. Able to ED to an Ivy League or top LAC, $75,000 a year without any loans funded?

Because if only the best car will do, but education doesn’t have to be top of the line or you burden then with undergrad educational debt, or limit their educational options— to drop $130,000 on three cars for 16 year olds—  then yes— you better believe I’m judging you. [/quote]

Maybe the kids don't want to go to an IVY or maybe they have it all taken care of.  If they have a huge income they aren't going to get aid and its their choice to take loans.[/quote]

Sure. But not being able to afford to pay out of pocket for college limits educational options in a very competitive college landscape. Whether your first choice is Harvard or not, being able apply early decision, pr even apply wodely to schools wiuthout merit aid— and there are A LOT— without worrying about financial aid is a significant advantage in college admissions.  And since OP’s kids are “studious” with perfect grades when they aren’t curing cancer, one would assume they are in the running for a top 25 National college or LAC. So is the money there or not?  If you are spending $45,000 on a new car for a teenager before you fund their college education because: “”it feels neat”  your priorities are out of whack. Ditto if you make your kid come out of undergrad— not grad school— with $45,000 extra in unsubsidized loans so they can drive their dream car in HS.

Maybe OP can afford college and the cars (and retirement and a mortgage). That’s quite a financial hit to take, but some families save from birth for college and have grandparents help and have large incomes and can take it.  The question is— can OP afford the cars and still manage college and retirement. It’s a question anyone with any financial sense and high school kids would ask.

OP asks what the harm of expensive cars is is. Well, if college isn’t fully funded, the harm is the kid might not go to as good a college and/or might graduate with debt that limits grad school and job options. That’s a high price to pay for leather seats and an unsafe car. [/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics