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.

Reminds me of the old dateline story of the HS kid his parents gave the junk old car to and they got the new car to teach him a lesson that you have to earn a new car it is not just given to you. Well he murdered both his parents and enjoyed driving their new car till he was arrested. He did earn it.

What car is so NEW and NICE and worth 4k .. ? I would be more concerned with what safety features the car has that my 16 year old is driving. That would be my priority, over age or if I thought it was fancy etc.

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.

I don't make my kids buy things from me!

Anonymous wrote:

Anonymous wrote:

Anonymous wrote: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!

I disagree with the other posters saying you should just give her the car. We sold our old car to our daughter. We did give her a very fair price - about $2K under blue book. We're not a family that just gives our kids everything they want. We believe in teaching them financial responsibilities and paying for a car that they will use exclusively is part of that. She also pays for insurance, gas, and any repairs. Our daughter was in college at the time and she was taking the car with her so no one else would be using it. Just giving your kids cats is how you end up with 30 YO still financially dependent on their parents.

No it's not.

No one should just give their kid a cat. Now, a dog would be a different story. Every kid should have a dog.

Posters who sell their cars to their new drivers? You’re signing over the title? And then they need to get their own insurance? Who’s paying for that? Insurance for a year, for a new driver OWNING a vehicle is much worse than adding them as a driver to your policy even if OP you get a newer vehicle. Sounds like you may need a financial literacy course OP.

Anonymous wrote:I'm with those who say your kid shoul drive the safest possible vehicle, which usually means the newest one you have or can afford to buy. New, young drivers lack the experience and skills they may acquire later to avoid some accidents, so the car they drive should be as safe as possible. That means the latest metallurgy, reasonable mass, and electronic tech possible, especially automated emergency braking but also features like lane change warnings.

A car is not the place to cheap out for your child, nor is it the place to do yourselvef a favor by buying yourself something new at your child's expense. You need not buy them the latest BMW or Mercedes, but should ensure they drive the safest car you can afford for them, assuming they lack the ability to buy their own up-to-date car.

I tend to agree, yet not having some features requires more attentiveness and spatial awareness, both of which are very important for learning to drive. Blind spot monitor is great but should not solely be replied upon, for example, and neither should cross traffic alert.

Anonymous wrote:How is a 7 year old car SO NEW! and SO NICE! ?? We replace our cars every 10 years, your car is nearing the end of my personal vehicle lifecycle.

You need to think about how you need this car to last her several years. If this has been your plan, move forward.

It depends on how much you drive as well as other factors. My guess is not only does OP work from home, her kids probably take the bus to school, and she has a garage so her car is rarely outdoors.

I'm with those who say your kid shoul drive the safest possible vehicle, which usually means the newest one you have or can afford to buy. New, young drivers lack the experience and skills they may acquire later to avoid some accidents, so the car they drive should be as safe as possible. That means the latest metallurgy, reasonable mass, and electronic tech possible, especially automated emergency braking but also features like lane change warnings.

A car is not the place to cheap out for your child, nor is it the place to do yourselvef a favor by buying yourself something new at your child's expense. You need not buy them the latest BMW or Mercedes, but should ensure they drive the safest car you can afford for them, assuming they lack the ability to buy their own up-to-date car.

Anonymous wrote:

Anonymous wrote: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!

I disagree with the other posters saying you should just give her the car. We sold our old car to our daughter. We did give her a very fair price - about $2K under blue book. We're not a family that just gives our kids everything they want. We believe in teaching them financial responsibilities and paying for a car that they will use exclusively is part of that. She also pays for insurance, gas, and any repairs. Our daughter was in college at the time and she was taking the car with her so no one else would be using it. Just giving your kids cats is how you end up with 30 YO still financially dependent on their parents.

No it's not.

Our pattern is giving our high school kids our handmedown cars and we get new ones. We don't make them pay for it or the insurance or anything like that. Giving them our old cars benefits us just as much as them.

Then we buy them another when they leave for college or when they are able to have one in college.

Anonymous wrote:

Anonymous wrote:Used prices on rav4 and crv are insane right now. I’m shopping for one, and it’s actually easier to get a better deal on the Beamers and Audis. Not sure why.

Because toyotas and hondas are know for reliability even as they age and get higher in miles, while BMW/Audi is known for crapping out and being terribly expensive to repair, so once they are off warranty they tank in value.

Yep, you'll need the money you saved for repairs. European luxury cars are cheaper to buy at a certain point bc they're more expensive to keep running. It's not just Hondas and Toyotas. Used American SUVs are also often more expensive than Audis/BMWs/Mercedes with the same features.

"Cars" not "cats"

Anonymous wrote: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!

I disagree with the other posters saying you should just give her the car. We sold our old car to our daughter. We did give her a very fair price - about $2K under blue book. We're not a family that just gives our kids everything they want. We believe in teaching them financial responsibilities and paying for a car that they will use exclusively is part of that. She also pays for insurance, gas, and any repairs. Our daughter was in college at the time and she was taking the car with her so no one else would be using it. Just giving your kids cats is how you end up with 30 YO still financially dependent on their parents.

Why would you make your 16-year-old buy your used car from you? Why not just let her use it? Sounds like you work from home and don't really need it during the day. Putting that money away would be a much better use of that money for your hard-working teen. That will teach her a lot more than making her buy your used car just so she can get to school and work. That's your responsibility to help her with that.

My highest priority for the car our kids drive is that it be as safe as we can afford. That was also my parents top priority when I started driving as a teenager.

For teenagers, having skin in the game on purchases, whether for cars, or college or anything else, I think different families just have very different approaches and would trust parents to know their children best. With my children, we don’t take that view at all. But, they are both highly responsible, cost conscious people. Like everyone, they have their issues, but needing to learn from having skin in the game just doesn’t happen to be one of them. When I was a teenager, I didn’t need that either to understand the value of money or to act responsibly. My parents bought me a car shortly after I turned 16 so that I could drive to my far away high school that didn’t have bus service. Some may view that as my being spoiled, but that spoiling didn’t have any negative impact as far as I can tell. I was then, and continue to be, a highly, organized, responsible and financial literate person. All to say that I don’t think there is a one size fits. All approach and families should probably just do what is best for their particular family unit and not make assumptions about the impact of other peoples choices for their kids.