Tips On Whether You Should Buy A Vehicle For Your Teen

When your teenager reaches driving age the question of whether or not to buy the teen a vehicle may come up.  Your decision on the purchase of a vehicle for the teen will depend on several things.  First, do you consider your teen a responsible person?  Are you ready for the teen to be more independent?  Can you financially afford to purchase a vehicle for the teen to drive?

When your teenager has access to his or her own car it calls for a great deal of responsibility on his or her part.  A car of his or her own is a big step forward.  Here are a few tips that may help you in your decision to either purchase a vehicle for your teen or not.

 

  1. Don’t just purchase a vehicle for your teen, hand over the keys and not make him a part of the purchase plan. Instead, have your teen work to contribute toward the down payment of the vehicle or even contribute some toward the entire purchase of the vehicle.  This will help your teen to learn the value of money and some responsibility.  If the teen has invested some of his or her hard-earned money he or she will be more likely to take better care of the vehicle.
  2. Have your teen contribute toward the maintenance and insurance costs associated with owning a car. This will also help teach your teen about responsibility and managing finances.  They will need to learn this lesson at some time so why not now?
  3. Consider purchasing a used older vehicle for your teen. A sedan should be reliable for their needs.  By purchasing an older vehicle you may be able to save money on the insurance premiums and on the fuel costs.  Your teen definitely does not need a sports car at this time in life.  A sports car is not appropriate for a new driver just getting started.  The insurance premiums for a sports car for a teen driver will be much higher than the insurance for an older vehicle.  You want to consider the cost of insurance and maintenance costs when you are purchasing the vehicle for your teen driver.
  4. If you and your teen driver determine that now is the time to purchase a vehicle for the teen do your research. Determine what type vehicle will be appropriate for the teen driver.  The internet is a good place to start your research.  You can also research vehicles in the newspaper vehicle classified ad section and the vehicle trader magazines.  Do your research before you purchase a vehicle for the teen driver.  You want to find the vehicle that is the best quality, best price, and most reliable.  A safe vehicle for your teen driver is of utmost importance.
  5. If driving is in your teen’s future, but the time is not here yet, you might want to start thinking about the purchase of a vehicle when your teen is ready to drive. The teen will eventually start driving so why not start now to have the teen save some money toward the future.  It will teach the teen the importance of saving and budgeting for something they want to purchase in the future, like a vehicle.

When your teen driver is ready to discuss purchasing a vehicle for his or her use, hopefully you will have researched enough information to help you and your teen make a decision that is right for both of you.