We all remember that moment. It’s engraved in our memory permanently, the moment we were handed the keys to our very first car. Maybe it was your parent’s old car or maybe you poured hours of sweat and tears into scraping enough cash up to purchase your own, or maybe you were an adult, but either way, it was a pretty exciting moment. For most of us, the moment we became responsible for our own set of wheels was liberating, but it was probably met with a little sense of our own worry and mixed feelings by our parents.
Fast forward 40 or so years down the road and you might find yourselves in that very same situation with your own child. Do you really already have a teen driver who’s ready to make their first vehicle purchase? How did it sneak up on you so fast? Wasn’t your baby just a toddler yesterday? Being ready to drive and being ready to own their own vehicle are two very different things. Odds are you’re questioning whether they are really ready for such a responsibility and here’s how to decide.
1. How Long Have They Been Driving?
Some families prepared well in advance and have already purchased a vehicle for their teen to use when they come of driving age. Others have decided to make their teen save for their own vehicle. No matter how you or your teen acquired their first car, you’ll want to make sure they’ve had ample time behind the wheel before entrusting them with the responsibility of vehicle ownership. Chances are they have some hours under their belt from driver’s education, but it might not quite be enough for you to be confident they are ready.
2. Are They Mature Enough?
How do you know if your teen is mature enough to own their own car? Do they understand the rules of the road clearly? Are they cautious and aware of their surroundings? Deciding whether to entrust your teen with a vehicle of their own means you’re confident they take driving seriously. If your teen won’t leave the driveway until everyone is buckled, that’s a good indicator. When you see them silence their phone and tuck it out of sight, that’s another good sign. Take note of these things before deciding if they’re mature enough to have their own car.
3. Can They Afford It?
Car ownership isn’t cheap, that’s for sure. Deciding if your teen can afford a car is based on a few things. Do you or they have money set aside or will there be a loan involved? Can you or they afford car insurance? Rates vary based on the age of the driver and you’ll both need to do some digging to see what the most affordable option is for their vehicle. If they use the car to get back and forth to school or sports, can they afford the gas? What about when they need new brakes or an oil change? Making sure your child can afford car ownership is important when you decide whether they should have their own.
4. Do They Understand The Risks?
Teen drivers are most likely to be involved in a motor vehicle accident in their first few years of driving and it’s up to you to help them understand the risks. Nobody likes to talk about it but the dangers teens face behind the wheel are very real. In the most recent report from the CDC, approximately 2,400 teens are involved as drivers in fatal crashes every year. Making sure your teen understands the importance of safe driving, like limiting distractions and driving sober, is critical when deciding whether they should be trusted to have a title on their own vehicle. Not only can these things be dangerous, but they can also be costly. Both the financial and mental burden of responsibility falls more heavily on your teen when it’s their own car involved.
Nevertheless, your teen buying their first car is definitely an exciting rite of passage but it should be approached responsibly. Paying attention to your teen’s driving habits, making sure they have the financial means to afford it, and helping them understand the risks associated with car ownership are all necessary steps in entrusting your teen with their first major purchase. Taking this next step might be scary for you as a parent, but it also shows your teen you trust them, and naturally, trusting them makes you both feel better.
