Getting a first car can be an exciting time for a teenager. It is a time when a parent realizes that their child is growing up and becoming more independent. While your child will want the latest model the dealer has to offer, you may want to consider buying your child a used car instead. The following are a few reasons why a used car is the right choice for your child's first car.
Lower Purchase Price
Perhaps the leading reason for buying your child a used car for their first vehicle is the purchase price. A used car will generally be a lot less expensive to purchase than a brand-new one. That is good news for your bank account.
Since your child is not driving a brand new car off the lot, as their first car, they do not get hit with the initial depreciation that a new car driver would experience. Rather, if they needed to trade their used car in, they would potentially receive more of the retained value by a percentage on a trade-in than a person who bought a new car would. This is particularly important to consider when thinking about the future purchase of a newer car.
Better Insurance Rates
An older, used car can come with insurance perks. For starters, a used car may not cost as much to insure as a brand-new car. One reason is that a new car would have to be fully insured, whereas a used car only has to carry the minimum coverage. This will help to keep the financial burden of adding a car to your insurance policy easier to manage over the long term.
Messes inside the Car
Teenagers can tend to be rough on the inside of a car. They and their friends will undoubtedly spill drinks and even damage the interior. If they see how easily this can happen to a used car, it may help them to recognize from this experience how to take better care of the interior of their next car.
While not every young driver is dangerous behind the wheel, many teenagers, nevertheless, sometimes drive recklessly. In the case of an accident, a used car will be much easier to replace than a new one.
Since a car requires some degree of regular maintenance, it is best for a first-time car owner to learn to keep up with maintenance obligations on a used car. If they mess it up and the car suffers as a consequence, then it will not be as much of a loss, as would be the case, if the car were brand new and they were negligent in the area of general maintenance concerns.
Your Child's Maturity
In general, a child's first car will ultimately be best fit for their maturity level. A first-time car owner simply needs the opportunity to mature before they are ready for the responsibility of owning a new car. Dealerships understand that your child's first car is an important step in their transition to becoming a responsible adult and will answer any questions that could help a parent determine what type of car is the best first car for their child.
A child's first car is an important step in teaching a teenager to develop responsibility. While a used car may not be what your child has in mind, it is generally considered a good idea to let a child make any serious mistakes they are going to make with their first used car. When they have demonstrated that they can properly care for a used car, this will make them far better prepared for a new car down the road.