My parents won’t buy me a new car?
My brother got his first car when he received his learners permit at 16. He’s 18 now and he’s gonna be getting a new car as a graduation gift and my parents told me i’ll be getting his old car. His old car is a 2016 honda civic but that isn’t the car I want, I want a jeep. It isn’t fair that he’s getting another new car and i’m stuck with a hand me down. I’ll be getting my permit close to my birthday and I should be getting a new car since he already has one. How do I talk them into getting me the car I want?
Just got a new job. Can I get a new car?
Since you are a starter, my advice would be as follows:While the new car will look gorgeous and impressive, as soon as you drive it out of the dealership, it will lose at least 10% of the value. No kidding here.The dealer will accept your letter but whether your loan/lease is approved depends upon your credit rating or history. The dealer is going to pull it from all three (TransUnion, Equifax, Experian) and the finance company will decide whether you qualify or not.The loan rate will depend upon your credit score. You may be accepted at low rate, high rate or rejected.Leasing for you is a bad idea. Leasing works out very expensive in the end and after 3 or 4 years you have paid up nearly 75% of the car and it is offered to you at the buy back value of at least 50%. Plus you have to maintain it immaculately and the leasing company decides what is “fair wear and tear”.You will soon have many responsibilities. I am assuming that you have no education loan to pay back. But you will have to consider at least the rent or home loan repayment, daily expenses, gf/bf expenses, etc. I don’t know where you live in USA, but I know that one bedroom apartment rents vary from US$800 (mid-west) to US$2500 (California).You definitely need a car. But I would suggest buying a six to ten year old car in good condition at this moment not exceeding US$ 10,000. Buy a car that has good resale value. After 3 or 4 years, you will have good savings, excellent credit score (as long as you pay bills in time). Then you can buy a new car if desired. Not only you may get a lower rate, but you will have enough savings to make a good down payment.
What kind of car should I get my 16 year old son ?
Okay, let me first state that i think you're making a MAJOR mistake buying your son a new car. Take it from a former teen (now 29), who made his parents regret giving him car after car. Teens are not mentally capable of the responsibilities that come with vehicle ownership. You will be responsible for oil changes, wrecks (which will definitely happen), and upkeep of the car. When you give a kid a car, you are basically telling them that they don't have to work for what they get, and they will not appreciate the car. Sure, they'll be happy to have it, but they don't truely appreciate the responsibility and value of a vehicle that they do not have a part in paying for. You may think your son is different, or maybe you are in the position to support him for the rest of his life. My parents constant giving really hindered my development as an adult. They didn't teach me financial responsibility, and as a result I leached off of them until I was 25. It has been very difficult to learn how to take care of myself, even though they were excellent parents in all other area. A lot of parents make this mistake, and I have a lot of friends just like me who can back this up. The proverbial silver spoon is not a good thing! I guess if you have decided to buy him a new car, there's nothing I can do to stop you. I would however, like you to remember this answer 5 years down the line when you can't get your son to make his own way in life. My suggestion is to go with your son and select a good used car. Nothing sporty, preferably a 4 door, 4 cylinder family car. Something that is dependable for getting back and forth to work with no frills. Trust me, this is your best option. He is going to be happy to get any car, unless he is already a spoiled brat, in which case he'll whine and cry that it isn't good enough. Find something safe. I do not recommend trucks since they are light in the back and fishtail easily. Find one that is economical so HE will be able to foot the gas bill with a part-time job. Please, I know you want the best for your son, but take it from someone who has first hand knowledge. DO NOT buy him a new car. He will inevitably wreck whatever you get him, I promise.
Should I buy my 16 year old child car?
Buy something that is around $2k but isn't likely to break down in a few months, but if it does would be cheap to fix. Kids are more likely to get in wrecks, thats just a fact, I did when I was young. So tell them this is the one car they get and to take care of it and try to make it last into there college years.
Should I let my 16 year old daughter buy a brand new car?
My daughter has been working hard recently because she told me she wanted a jeep which cost about 30-35 grand. My son is going to lend her however much she needs so the car will be payed off and we won t have to worry if she doesn t have the full amount each month. She s currently working part time in Best Buy and selling stuff on eBay making 500 a month, should I let her?