Getting a driver’s license is an exciting milestone for teens — and buying a car to go along with it opens a new world of freedom, choices and responsibilities. As a parent, you want your teen to have a safe and reliable vehicle, but with many options on the market, the experience can be stressful. Moreover, your adolescent might have a different perspective on the situation. He or she might want an automobile that’s cool and stylish to show off to friends. Fortunately, by following some basic guidelines, you and your teen can have a positive buying experience.
There are many factors to consider when purchasing a teen’s first car. One of the most important ones is setting the budget. Buying a car, whether new or used, is a big investment and it’s important to discuss with your teen how much your family can afford to spend. A quick tip is to look for people selling estate items, you may be able to find a vehicle in great condition from an estate sale. Aside from the price of the car, keep in mind the costs of insurance and maintenance. Involving your teen can help him or her understand the car-buying process. He or she should realize that the budget, and not stylish temptations, will determine one’s buying options.
While determining your family’s budget, you may want to ask your teen to contribute toward the purchase of the car. For example, he or she can help pay for gas or insurance. This can help the teen learn about financial responsibilities that go with owning and driving a vehicle. Once you’ve determined a budget, be sure to look around before committing to a car. Find reputable, licensed dealers with a good history in providing high-quality service to customers. You can also find quality automobiles at low prices at online auto auctions that sell used cars.
By following these guidelines, buying your teen’s first car should be a positive and straightforward process. For more tips, see the accompanying resource.
Infographic created by Capital Auto Auction