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[quote=Anonymous][quote=Anonymous][quote=Anonymous]Bumping this up.
We have two kids (almost 18 and 16.5) with new licenses. Ideally each would have a car to use. They go to different schools and have jobs, and my husband and I both work full time, sometimes in the office, so we are anxious to be done with the schlepping around. Theoretically, we could give one of them my husband's 2014 Acadia, but I think it is too big for a teen to be driving around. Do people typically purchase a used car for their kids, or make them pay for part of it? We will make them pay for their own gas, but what about insurance? Do people make their kids contribute toward insurance? I'm thinking of saying we will pay up to $10K for a used car that must have a rearview camera, no accident history, and preferably under 100K miles. What is the best source for used cars? Dealerships? I'm a bit leery of Facebook Marketplace. [/quote]

I think there is a wide range of “typical” in our area. We’re in suburban DMV, most of my kids’ friends have a car that is theirs to use. Many were handed down, some were purchased new. We’re in the new car camp because neither of our cars were ready or reasonable to pass on to a new driver and the used car market was ridiculous last year. The price difference between new and used was so small it made no sense to buy used.

As far as their financial contribution, my philosophy may not be typical, but I see my teen driving as a luxury for ME. I’m not sharing a car or spending any time driving them. I would estimate 90% of my kid’s trips are ones I would otherwise be making, spending my time and wear and tear on my vehicle. I don’t have a kid who drives around as an activity, they are going to private school, a high commitment sport, and social activities in a reasonable radius. 400-500 miles per month with cheaper gas and better mileage than my vehicle. Therefore, I don’t expect them to pay for anything car related, unless there are tickets or something. I ask them to drive a sibling or run an errand, that’s “payment” for the privilege of having a car for their use.
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You are wealthy so the cost is not a big deal. [/quote]

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