Buying your child’s first car can be an important bonding activity and a crucial part of growing up for them. It also gives you a chance to guide them into getting something more practical instead of a lemon with racing stripes for better safety, whether buying pre-owned or brand-new.
Help them Learn About Cars First
Can any of us say we got our first car as an expert or even with the slightest knowledge of vehicles? Pretty much everyone knows next to nothing about their first car, and most of what we know comes from years of driving experience. But this doesn’t need to be the case. Knowing the fundamentals of car ownership is easier than ever. For instance, Ford factory service manuals are available online for download from services such as Ford Factory Manuals.
Safety First when Buying Your Child’s First Car
If you leave your teenager to buy their own car, it is almost guaranteed they will come back with something very impractical. This is a problem since teens have no experience and will drive pretty badly for a while. The data speaks for itself on this issue, so buying a safe and practical car is paramount. Newer cars have a lower fatality rate of about 35%, yet vehicles over 18 years old account for up to 60%. Other variables exist, so assist your child in finding a safer vehicle.
Help them with the Financial Costs
As we all know, buying a car, especially a good one, can come with a price tag. Newer cars are typically more expensive, so finding something older but well-kept can be the key. Your child may not have the money for a newer vehicle however. But a good way to teach them some responsibility is to have them save for their car and match their savings. So, if they manage to get a part-time job and save $2,000, doubling this can make a huge difference in car quality.
Consider the Extra Costs Later On
Buying a car is expensive enough and the trade-in value begins to go down as soon as it leaves the shop. Additionally, running a vehicle these days is also becoming more costly. So, before you purchase, consider some of the following additional expenses your child needs to pay:
- In almost all countries, tax is a mandatory payment when driving a vehicle.
- Insurance isn’t required everywhere, but it always pays to have it anyway.
- Consider if your child will be able to afford the cost of the car’s fuel economy.
- Older cars may require more maintenance and repairs than something newer.
- Remember that some cities, such as London, charge vehicles based on emissions.
Tax and insurance are vital and mandatory in most countries. But how well the car runs also determines costs such as fuel. An EV can be a good choice, but these have their own issues.
Teach About Owning a Vehicle
You can’t do it all for your kids, and they need to learn about responsibly owning a car. For example, you don’t want to lay down a large sum of money only for them to treat the car as an extension of their bedroom. Checking the oil and other fluids, safety checks, and keeping the car clean and tidy are vital for any vehicle owner. Younger people may not have the same attitude, and even washing a car can help avoid hazards like frozen debris in the wheel well.
Start Small When Buying Your Child’s First Car
There isn’t a teen alive who wouldn’t love an M2 BMW or an AMG Mercedes. But this would be a terrible choice. Younger people and first-time drivers haven’t developed the skills and experience to handle a powerful car, and this would end in disaster. Data shows that people between 16 and 17 years old are the most likely to crash. Therefore, it helps to start small with a hatchback or low-power vehicle to avoid the incentive to drive recklessly or even show off.
Ponder Whether to Buy New or Used
The decision of whether to buy a new or pre-owned vehicle for your child depends on the financial implications. Of course, no one is saying your teen is irresponsible, and indeed, most teens are more responsible than society gives them credit for. But there does remain the chance of a crash when your child is learning and gaining experience. A new car may be safer, but a used car is cheaper. So, there is a need to strike a balance between what you think is best.
Summary
Helping your teen learn about cars and how they work can help when buying your child’s first car. It also helps to consider the extra costs, such as fuel economy and emissions charges.
