Reply to Anything wrong with buying your teen an nice car? ($40,000 and up)

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[quote=Anonymous][quote=Anonymous]Lots of kids have cars this expensive, so its not out of the norm.  Sometimes it IS the norm as many people have mentioned. My kids aren't this old.  I have had a bunch of aupairs.  Nearly all of them, supposedly experienced good drivers, had fender benders and what not on my cars.  Point being is that I would expect an accident and the insurance to go up even more.  From a money perspective, its going to be expensive (more than the 40k for insurance, accidents etc).  Second, that is a car that everyone wants to go out in.  She will be the driver or, worse yet, she'll let the St Albans kid driver the car.  More liability there with all the friends driving around in the car.  So you can add some headache and potential $$$ there.  Then, add in the danger factor.  I do not think this is the safest car.  If $ was no object, then for safety sake - I agree - I 'd go for the volvo or the bmw.  No reason for a kid with so much potential to potentially die.  Now that would really suck. I'm sure a parent of a kid with so much potential can understand this risk.  Then from a values perspective - I have decided that kids need to learn how to deal with wealth and money.  Money is just a thing. Sometimes you have a lot, sometimes you don't.  Based on your post, I'm guessing you have a lot, I would make a deal - buy an expensive car but if its wrecked, its a used honda civic or something very mundane.  That would give some clarity around expectations. However I definitely agree - its nicer to work UP to stuff than have it ripped away (From accident or what not).  But that is not how most parents want to play these days.

Personally, its the used honda crv for my kid when they are old enough. Not embarrassing, decently safe. Relatively cheap.  Then I have promised a better if they do get some scholarship or something very good at college.

Just my 2 cents.[/quote]

I would not even get a used CRV for them!  5-10 year old Civic if that.  If that car is too "embarrassing" for them, they can go out and earn $$ for a less embarrassing car.

But, I am not embarrassed by a Civic.  We have a 30k new car and a 2005 Civic, both bought in cash.  If someone judges us when we roll up, that is their pathetic issue.[/quote]

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