Guide To Your Teen’s First Car
When the time comes to buy your teenager his or her first car, your parental instincts might be pushing you to buy the safest vehicle. You want to keep them safe on the road, of course, so you’ll be looking at the condition of the tires, the brake pads and whether or not the vehicle has ever been involved in a collision. You’ll also teach your child safe driving habits, such as avoiding aggressive driving and never texting while on the road. This is extremely important, but it’s not the only thing you need to be thinking about to protect your teen. You need to pay close attention to how this major milestone will impact your teenager financially, as well.
Going into the car-buying process without a plan can be a recipe for disaster. Sinking too much of your teenager’s hard-earned money into a clunker can hurt his or her ability to save for the future and achieve financial independence. This is why it’s critical to set a budget before you begin and be prepared to walk away from any vehicle that exceeds it. You also should be ready to search in multiple places, including auto auctions, to find the best deal. Before you close any deal involving a preowned car, it’s a good idea to have it inspected by an independent mechanic who can offer an unvarnished opinion about its condition.
If you’re preparing for your kid’s first car, keeping him or her safe is your highest priority. To learn more about what you can do to make sure the process is a smooth one, take a look at the accompanying resource.
Infographic created by Capital Auto Auction