OP here and I’m completely embarrassed and humbled. I must have scrolled to the wrong number on KBB because I was way off. But you’ve all given me something to ponder and now I’m really second guessing my thought of charging her. You all made some really valid points. I’m going to really consider reconsidering. I guess I’m completely out of touch. You all are harsh, but make good points!

Anonymous wrote:Are you really going to make your daughter buy your 7 year old (I’m assuming paid off) car from you? I’d just give my child the car.

This. We gave our kids our old cars and got new (new to me-still used) cars. We did not make them pay anything.

Anonymous wrote:If a 2017-ish SUV worth $4k is too nice for her, what sort of car would be acceptable to you for her to have?

My car is a 2015 and I’ve put a bunch of money into it, but it’s just getting unreliable now. I’m gearing up to buy a new car for myself. I wouldn’t give this one to a kid of mine, I don’t trust it anymore. I can’t imagine thinking my child should drive something older or with more miles.

I worry this will be our situation and we'll have to buy two cars at once as our older car is a 2010 and works fine now but how long will it last? I'd rather my kid be in a newer car with more saftey features.

Op - why would you make it her car?

Make it, the particular family car, that is available to her to drive.

I also would like to know what 7 year-old SUV with low miles is worth only $4,500.

I have not seen any equivalent cars for anywhere close to that price.

Anonymous wrote:

Anonymous wrote:What seven year old SUV is worth 4K?

Same question - my 7 year old RAV is worth ~$17k according to KBB. I think OP's understanding of her car as new and nice is deeply skewed if it's worth less than $5k.

By the time you were to sell it, buy a new one, register it, pay taxes and make repairs how much do you think OP or even you is really saving?

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Why are you making her buy it from you?

To learn some financial literacy and responsibility, also in the hope she will have pride of ownership because she bought it? Seriously? Parents don’t do this anymore? Well, we are doing it.

No, that's not financial responsibility and then you lose control of the car. You cannot take away the keys and tell her no car if she owns it. She should take care of it or she loses it, simple.

We will pay for gas and insurance and kid will get a very old car to drive but it’s still OUR car, at 16 and that car will be replaced. When they work, they will put the money away for college for spending money. I would never give or buy a child a car in less we had no other option (like the car died and they need it it vs. want it).

I guess I disagree. She can’t drive it without insurance and she can’t secure that (or afford it!) on her own. But my question was about whether or not a seven year old car was too new, and I understand you think it is, so I will accept your input on that!

Too new? No, you want it to be safe and have safety features. You'd what, sell it and get an older car that might have issues?

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Why are you making her buy it from you?

To learn some financial literacy and responsibility, also in the hope she will have pride of ownership because she bought it? Seriously? Parents don’t do this anymore? Well, we are doing it.

No, that's not financial responsibility and then you lose control of the car. You cannot take away the keys and tell her no car if she owns it. She should take care of it or she loses it, simple.

We will pay for gas and insurance and kid will get a very old car to drive but its still OUR car, at 16 and that car will be replaced. When they work, they will put the money away for college for spending money. I would never give or buy a child a car in less we had no other option (like the car died and they need it it vs. want it).

+1 when I was a teen my dad bought a new car and allowed me and my older sister to drive his old one. It was always 100% clear that this was NOT our car. It was their car which we were allowed to drive. Any kid who referred to it as "my car" was immediately corrected. When the original hand-me-down died, they bought another used car for the kids to drive (we had zero input into what dad bought since it wasn't "ours"). I eventually took that car to college and at graduation they signed it over to me and I could finally say it was mine.

I think it makes it a lot easier to take the car away and enforce other limits when you avoid giving them the impression that it's theirs to do with as they please.

Nothing about your reasoning makes sense, OP.

This is not how you build financial responsibility in a teen. It's better for you to own everything she uses so you can it as leverage while she learns how to be responsible.

Also, why all this hand-wringing about new and old? Just buy another car, and let her have whichever one. New cars are usually safer to drive. Old cars are less emotional to repair. Pick one already!

So weird.

Anonymous wrote:What seven year old SUV is worth 4K?

Same question - my 7 year old RAV is worth ~$17k according to KBB. I think OP's understanding of her car as new and nice is deeply skewed if it's worth less than $5k.

Anonymous wrote:

Anonymous wrote:Just curious how she’s proven she’s a trustworthy driver if she’s only just turned 16.

Really?

People are odd tonight. I think I’m out.

Good, because the sort of people who want to sell their car to their teenagers are probably not capable of listening to reason.

If a 2017-ish SUV worth $4k is too nice for her, what sort of car would be acceptable to you for her to have?

My car is a 2015 and I’ve put a bunch of money into it, but it’s just getting unreliable now. I’m gearing up to buy a new car for myself. I wouldn’t give this one to a kid of mine, I don’t trust it anymore. I can’t imagine thinking my child should drive something older or with more miles.

This is so bizarre. I would buy myself a new car and let my kid use the old one. My 16 y/o doesn’t need to own a car. Kid can help pay for insurance.

Anonymous wrote:Just curious how she’s proven she’s a trustworthy driver if she’s only just turned 16.

Really?

People are odd tonight. I think I’m out.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Why are you making her buy it from you?

To learn some financial literacy and responsibility, also in the hope she will have pride of ownership because she bought it? Seriously? Parents don’t do this anymore? Well, we are doing it.

No, that's not financial responsibility and then you lose control of the car. You cannot take away the keys and tell her no car if she owns it. She should take care of it or she loses it, simple.

We will pay for gas and insurance and kid will get a very old car to drive but it’s still OUR car, at 16 and that car will be replaced. When they work, they will put the money away for college for spending money. I would never give or buy a child a car in less we had no other option (like the car died and they need it it vs. want it).

I guess I disagree. She can’t drive it without insurance and she can’t secure that (or afford it!) on her own. But my question was about whether or not a seven year old car was too new, and I understand you think it is, so I will accept your input on that!