A memorable moment for any mother is seeing their teen gain freedom and independence through purchasing their first vehicle. And you can stand by your teen’s side as you help them navigate their car-buying experience. Become a great support system by following these tips for helping your teen buy their first car.
Consider Buying a New vs. Used Vehicle
When it comes to purchasing a car, you and your teen must decide whether to buy a new or used vehicle. A new car is reliable and boasts upgraded features, but a used car is more affordable. Consider your budget before you make the final decision. Listing out the pros and cons of both options can help you make an informed decision.
Discuss Associated Costs
Gas, insurance, maintenance, and unexpected repairs cost money. And it’s critical that your teen understands all the associated costs of owning a vehicle. Although buying the car itself is a major purchase, vehicle upkeep maintains the car’s longevity. Creating a chart and writing down potential costs will help your teen generate their budget.
Additionally, if you decide to help your teen with associated costs, you can write down your budget and their expected contributions. For example, if you pay a portion of their insurance, talk about the amount of money they need to set aside.
Talk About Investing in the Vehicle
Whether your teen buys a new or used car, they can always optimize their vehicle. That’s why it’s important to consider a car as an investment. When you upgrade parts, it makes the car better. But before deconstructing the vehicle, it’s essential to make sure the upgrade is a good decision.
For instance, one of the most frequently asked questions about car transmissions is, “Can I upgrade my transmission?” Though the answer is yes, you should still speak with a mechanic to select the part that best fits your teen’s car.
Always Include a Safety Lesson
A beneficial tip for helping your teen buy their first car is to include a safety lesson. Everything from finding a reputable dealer to test driving the vehicle will help your teen select the right car. Setting time aside to research their potential vehicle and dealers in your area can make the purchase process easier. Ultimately, this will teach your teen how to navigate major purchases in the future.