This is a question some parents are likely to disagree about, but should you help your child get their first car? We’ve partnered with Thompson Toyota in this post to bring you what I hope are helpful answers.
When considering whether or not you should help your child get their first car, ask yourself this question:
Does my child expect me to get them a car?
Now I don’t know about you, but I find it difficult to reward a child who has an attitude of entitlement. Yes, you’re the parent. Of course you love your child and want what’s best for him or her. But giving them something like a car isn’t a requirement in parenting. That being said, there are ways to make this whole thing work.
Here are ways you can help your child get their first car
Help Them Save Money
Kids usually aren’t the best at budgeting, especially teenagers! Helping them create a budget where they save a good amount of money for their upcoming purchase is a great way to get them on the way to first time car ownership.
Match Funds Saved
This is something that although we haven’t had to do yet, we always tell our kids this is an option. Whatever amount they are able to save, we will match it when they are ready to buy their first car. This way we are contributing and helping but not footing the bill for the entire purchase. Our kids will still have to work hard for what they want.
Assist in the Buying Process
Going with your child to the dealer and even possibly helping to negotiate the sale can be a big help in the buying process. You’ve likely done this before and probably know a little more than they do about the experience. They’ll probably really appreciate your assistance.
Deciding if you should help your child get their first car is a big decision for sure. But in the end, we all want to help our children in the best way that we can, wouldn’t you agree? I’d love to hear your thoughts about what you did (or plan to do) in this situation.