The first car most teenagers drive after getting a driver’s license is purchased by an adult. This rite of passage is, more often than not, the first time that teenager has been given that level of freedom and responsibility. Before you buy a car for a teenager, there are four important things to consider.
1) Privilege Vs. Right
The first thing to think about, and talk about, before you buy the teenager in your life a car is the difference between a privilege and a right. Many teenagers assume that when they get their driver’s license someone is going to foot the bill for their first car, thinking it is their right as a licensed driver to have their own vehicle. Have a realistic conversation with the teenage driver about driving and owning a car being a privilege that is earned, and can be lost. Instill a sense of responsibility, accountability and gratitude before handing over the keys to a car to a teenager.
2) Financial Realities
Some families can afford to buy a car for a teenager, while others cannot. While it isn’t a bad thing to want to provide everything your child asks for, you need to be realistic about your household budget.
Include your teenager in some of the budget discussions. It isn’t appropriate to saddle a teenager with all of your household financial concerns, but you can apprise your child of how much you can afford to spend on car payments, insurance, registration, and other car related expenses. Stay firm on your bottom line and fight the urge to give in to the insistent requests of a teenage driver on a mission to get his or her own car.
3) Ongoing Expenses Plan
On top of the expenses related to buying a car and getting its documentation in order, there are the ongoing expenses of owning a vehicle that need to be considered. In most states, those old enough to drive a car are also old enough to work. Decided which of these expenses, such as gas and routine maintenance, you want your teenager to pay and which you will handle.
4) Have Firm Rules
Teenage drivers are bound to make mistakes as drivers and car owners as they mature. Before agreeing to buy your teenager a car, make sure he or she agrees to your driving and car ownership rules. The rules you put in place for your teenager and the car need to be clear, firm, and come with consequences. Some standard rules parents enforce are curfews, passenger restrictions and how far from home or school the teen can drive. Given the amount of freedom a car represents, parents and guardians need to stay on top of how that freedom is used by teenagers.
Parents want to provide the best for their children, which often includes buying a teenager’s first car after a passing driver’s license test. Be realistic, about both household finances and the responsibility of the teen, before buying such a large gift.
