What should i do ?

[fu2]

i would say make him catch the bus

i had to save for my 1st car (the vp) and i think because of this i respect it more. i dont do burnouts and im really protective of it

 

[crazyspoon05]

I'd make him save as well, even though I bought my first car off my parents I still had to work to earn enough to pay for it and I had to apply for the loan as well.

This is the best way to teach them about financial matters for the future..

 

[Sebastian]

i know it sounds harsh but having just been in the same position (buying my first car) i have to agree with most people, he should catch the bus. if he really wants a car and is going to appreciate it he would have already been saving up for one. my parents made it clear early on that they wouldnt be giving me money towards my first car and so for three years i had been saving up to by my car. if he isnt willing to save up for what he wants then he doesn't deserve a car. the other thing of course is all the subsidiary costs relating to cars (servicing, insurance, rego, FUEL), if your son is blowing all his money at the moment on crap then there is little chance he is going to be able to mantain a car
Cars are not just toys they are commitments

also it annoys me that people believe that getting a good first car is bad, in my opinion if your likely to be in an accident you shouldn't be driving furthermore as a driver im very safe and am unwilling to do things which are going to endanger my car like burnouts but i guess thats because i had to pay for every cent
anyway thats my opinion

 

[VRFURY]

i had to save for my first car, and i was just getting out of yr 12 and had a part time job but then went in to full time careing for my dad when he got sick. i svaed and saved for my car cos i new it was important for getting my dad to hospitals and to look after the house.

But it made me really apprecitate what i worked for even if it was only my VL

 

[MOTIV8]

I would tell him that I would match him dollar for dollar and that he had better start saving. Stipulate a cut off date and that it is then up to him.

 

[BLACKVZSV8]

Nothing wrong with getting a loan it builds up a credit history.

He can catch the bus till hes been in his fulltime job for 3 months then a 3k personal loan should be a breeze.

This will be the first of many loans ie new car, house etc so what better time to learn about interest. Also he will appreciate the car more if hes had to work for it and get a loan on his own.

 

[jack.mc]

I paid for my first car. That was basically pocken money since I was 5 (so some of you might say my parents paid, but that was ~$5 per week that I put into dollarmites), but most of it was from working weekends while at uni. I bought it half way through my first year at uni, so its not that hard to save.

I'm very thankful that my parents started me saving when I was young. It meant that when I got a job, I naturally wanted to save up for something good, rather than blowing it on crap.

 

[trepaul]

gee, there are some harsh parents here. i thought parents would want the best for their kids. there's nothing wrong with a little reality check (re. the value of money), but if you have the chance to give your kids a head start, then why not?

and just because you buy a car for them, doesn't mean they won't appreciate it. especially when they have to start putting fuel, rego and insurance, then the inevitable break-downs into the bargin

 

[vh-holden]

If you start working a full time job at 18, being self sufficient isn't all that hard..

If you're at full time Uni and work a couple of hours in a non-serious job, then it's nearly impossible to be fully self sufficient, without some kind of assistance.

The more time you spend working , the less time you spend on Uni. Uni is the full time thing after all..

A distinction has to be made. Like if people go out and get a job after they finish their VCE/HSC/Year12, that's one thing. Studying at Uni fulltime is a completely different one..

agree fully with you. i worked for 12 months after highschool, and was self sufficient for about a year, then the savings dried up. i got a job, then the grades dried up. quit the job, grades are slowly improving.

i was lucky enough to be given an old commodore by family friends. it was old, it was crap, but i looked after for 5 years until it got pulled of the road. i wasn't prepared for the loss of the car and mum and dad ended up buying a second car for the family. while i pay for a lot of the costs, they sometimes cover it. it is generally referred to as my car, but ultimately, it is the family's car, i just happen to drive it the most, and use it for driving my sister around.

give the boy a loan, but not a big one. you don't need a nice car forr your first one. if a rough car is all you can afford, take it!!!

 

[Dayvo]

thanks guy and gals for your feedback . I have decided to go halfs in the price of the car with him ( $1,500 each ). He will service it and i will supervise him so he will gain a bit if mechanical knowhow. He will be responsible for rego , insurance He will pay me back in monthly instalments . Would like to buy it for him but will be out of a job at the end .
Cheers Dayvo