Anonymous wrote:If your college dc has their own car:
- what model/year
- how long have they had it
- who pays (or paid)
- do they have it at school with them
Elder child was a rising junior in college and needed one for summer internship/co-op. We bought a three year old basic CRV. We paid for the car and insurance, they paid for gas and general upkeep.When elder child was in last semester, they did not need the car and younger child needed a car for their internship. So younger child drove CRV that semester.
Once elder graduated and started job, we transferred car to their name and they took over insurance and all costs.
When younger still needed a car, we bought a new car and gave younger our four year old RAV-4 to use. They are still in school so we have not yet transferred ownership to them. They pay for gas and up keep, we still pay for insurance.