First, you need to ask yourself why the car is so cheap? What’s wrong with it? At the very least, if it looks good cosmetically, there may be serious mechanical or underbody damage. The only way to know for sure is to have the vehicle inspected by a mechanic, buy a vehicle history report, and go over it with a fine-tooth comb (and magnifying glass).
Sure, there may be a suburban housewife or grandmother who’s selling a car that’s mostly sat in the garage for the past 10 years – but those are usually come-ons and not really what’s for sale. The point is, when you’re looking for a car for your teen, you want to do all you can to ensure you make the right choice. Buying a too cheap car isn’t a good idea.
2010 BMW M6Enlarge Photo
Finding the funds to buy any new car these days is hard enough – for adults. Scraping together money or taking it out of savings to buy wheels for your teen makes stretching the family budget even further. Naturally, as parents, you want to make the best use of the funds allocated to such a purchase. As such, you should eliminate all vehicles from the consideration list that fall into the too expensive category.
That means no top-of-the-line sports cars, full-trail-ready SUVs, or luxury anything. Your son or daughter, no matter how good a driver you (and they) think they are, shouldn’t be behind the wheel of a high-performance machine or any vehicle that costs the equivalent of a monthly house payment. Plus, the insurance will be out-of-sight for such a vehicle.
Another point about a car that’s too expensive is that if you want your teen to really appreciate the value of money, make it a point that your son or daughter either pays the monthly car payment or contributes toward it. That way, they’re invested in the car – and will likely take better care of it and drive in a more responsible manner.
Want to know more? Check out tomorrow’s installment for the next five things the car for your teen shouldn’t be.