It will always be somewhat nerve-wracking to purchase a teen’s first car when they are preparing to hit the road on their own. Not only are parents often worried about the safety and wellbeing of their child, they are probably also going to have quite a few choices to make when it comes to purchasing the ideal vehicle. For most, this is going to be a used car, but it is important to keep a few tips in mind when it comes to narrowing down the search, keeping the costs low, and ensuring that the child will be safe when they get into the driver’s seat.
Questions to Ask
Both the teenager looking to purchase the used vehicle and their parents are going to have a number of important questions to consider before even beginning to shop for a vehicle. Primarily, all those that are going to be financially involved will want to come up with a basic idea on either the total amount that will be spent or how much can be spent on monthly payments if a loan is applied for or the car is financed. Parents and their children will also need to discuss the exact amount each party will be responsible for every month as well as how and when money will be transferred.
Choosing the Right Vehicle
Leasing a new vehicle may seem enticing, but studies are showing that new car leases are not generally money well spent, especially with inexperienced drivers. For a teenager’s first vehicle, it is often better to go with a well-researched used vehicle that will help them develop better driving skills and learn responsibility without the huge price tag or overwhelming monthly costs. The two primary features that buyers are going to want to look at include the safety rating of the vehicle and the mileage. The vehicle should also be free from any major mechanical problems involving the transmission, engine block, and the chassis. When possible, reports should be viewed to ensure that the vehicle has also not been involved in any major accidents.
A Look at Periphery Costs
It is an unfortunate fact that teens and unsafe driving seem to go hand in hand. In fact, the most likely age group to be involved in an accident is between 16 and 20 years old. For parents and their kids, this means a number of costs are going to come into play outside of the initial purchase of the vehicle. Insurance is going to be an ongoing expense that must be factored into the bigger picture. For those first few years, parents should expect their insurance to increase dramatically while the teen is on their policy. While there is the option to create a separate account for the teenager, the costs will often be much higher when not rolled into an existing account.
With used vehicles, there will also be other expenses that must be paid before the new driver can get on the road. For slightly older cars, the vehicle must pass a smog check and be re-registered in either the parents’ names or the teenager’s name. We talked with RichsCarCorner.com who reminded us, “A full vehicle inspection is also a good idea in order to check on fluid levels and explore any other issues that may pop up such as worn brakes or minor leaks.”
Making the Final Decision
A pre-owned vehicle is a great idea for a new driver, but it will also come with a few challenges for both teenage drivers and their parents. Luckily, when a little extra time and energy is spent on tracking down the perfect car and lowering all of the periphery costs, parents will be helping their teenagers learn responsibility as well as build their credit in the process.
