Car Question?

[Zeus]

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[Redbridge]

Why not see if you can buy the car they gave you for a reduced 'parent' price.. That way you get the sense of responsibility, your folks see you are responsible and they can pay for the servicing...>LOL

[Zeus]

Why not see if you can buy the car they gave you for a reduced 'parent' price.. That way you get the sense of responsibility, your folks see you are responsible and they can pay for the servicing...>LOL

:O. That is good. I never thought of that. The thing is though, it still is a car technically given to me by them, and still taken from them. It used to be my mom's and dad's commuter car and I don't want them getting miles on their other cars unnecessarily, so I am leaning heavily towards the Jeep option. That and the SUV will be safer as I'm still a beginner in driving. No worries though Red, I won't be pulling donuts in your parking lot :D.

[Redbridge]

No worries though Red, I won't be pulling donuts in your parking lot :D.

why not? donuts FTW.... oh not donuts...... DOH

http://www.mediabistro.com/prnewser/files/2011/06/homer_donuts.jpg

[SUPAPRODIGY]

I think paying for the car your parents bought would show them how responsible you are and not have to relie on your parents

[Wretch]

Great feeling buying your own car!

[KingFu]

You know, a certain someone I know has a birthday coming up in 3 months and will be able to drive "legally" in half a year from then with his learners permit:rolleyes:

Seriously though, I can understand where you're coming from, but remember at the same time you're still a teenager. I'd personally do as red said and pay them off a bit for it. I think of it as normal to have your parents support you (to an extent) up until you're fully into adulthood. Paying them some money for it would show you're ready to start taking on new responsibilities, but aren't quite "jumping out of the nest" entirely. Just my little 2 cents:p Obviously I'm not quite yet old enough to fully understand it, but I know the satisfaction in buying something you've wanted for a long time, or even paying a fair percentage of it:)

[ScarecrowWolf]

BMW r reliable cars.

Oh what I would do for a bmw

[ZHEOTARE]

Honestly, I would keep it until it breaks. You pay the insurance, taxes, maintenance, and any other cost associated with the car. Don't let them pay for anything. If you really want to go away from their link to the car, make sure to get your own insurance (although, it will be quite high for you).

There is nothing wrong with driving a car your parents gave you. It sounds like it wasn't their main car anyhow. If other people stare at you because you are driving a nice car your parents gave you, so what?? Let them stare. It's not their business anyway.

[NeoQueen]

So, my mom pretty much paid for a 99 Pontiac for me. About four years later I bought my own car and it is a fantastic feeling to know you purchased your own car. However, I upgraded from that Pontiac to a 2010 Kia. I drive about 60 miles a day on hwy 95 and needed a more reliable car since breaking down on that particular highway is not in my grand plans. Why would you shell out car money for a new car when you have a car that is more than adequate? I would seriously consider something else to spend your money on and save that car money in a different account to gain interest until you truly need a newer car. If you are really concerned about 'earning' it than pay them back by helping out with household finances, doing good in school, paying for whatever you can and not asking for money.

Not trying to sound harsh or anything. I'm just of the opinion that you getting something isn't bad, but taking advantage and constantly expecting to get is. Me personally, I would say thank you and then ensure that my parents never regretted giving me that car.

[Zrawats]

Take the BMW fool

[WhoIsThis]

I'd recommend not buying the car. It's not worth until at least after high school.

You might need the money for college and cars tend to depreciate in value very quickly, especially the luxury car manufacturers like the BMWs, which can lose as much as 50% of their value in 2 years.

The other question is, is it worth thousands of dollars just to get people to stop the stares? They might stare anyways.

[DawnInfinity]

Parth, we need to talk / catch up. :(

I'd probably save the money for college. That's what I've done, and we're pretty much in similar situations.

[Moogerfooger]

I'd recommend not buying the car. It's not worth until at least after high school.

You might need the money for college and cars tend to depreciate in value very quickly, especially the luxury car manufacturers like the BMWs, which can lose as much as 50% of their value in 2 years.

The other question is, is it worth thousands of dollars just to get people to stop the stares? They might stare anyways.

This.

Save your money for kollege. It is more expensive than you would think.

[WhoIsThis]

This.

Save your money for kollege. It is more expensive than you would think.

Lol - I'm in university right now. I'm not getting a car until after I graduate. Not to mention, if my estimates are accurate, I will be about 50-60k in debt (likely more). Where I live, rent has been going up by about 4-5% per year and tuition always is always going up at a rater faster than inflation. I hear that in my program, Master's degree tuition is really pricey (assuming I choose to go into the Master's program).

The other thing to remember Parth, is that if you are going to university in California, given that the state has been experiencing budget difficulties and that the political system is unlikely to get anything productive done, major tuition hikes would not be surprising.

[CrimsonTider]

Hey buddy,

Coming from a parent's point of view: offer to pay your parents. It will give them a great sense of joy to know they have raised a child with a great sense of awareness and responsibility. If they do no allow you to buy itbfrom them, SAVE IT. You never know what life will throw at you and the earlier you have to become financially secure, the better. You have given me hope for the younger generations! :)

[WhoIsThis]

Hey buddy,

Coming from a parent's point of view: offer to pay your parents. It will give them a great sense of joy to know they have raised a child with a great sense of awareness and responsibility. If they do no allow you to buy itbfrom them, SAVE IT. You never know what life will throw at you and the earlier you have to become financially secure, the better. You have given me hope for the younger generations! :)

I think that Parth should discuss this with his parents. I don't think that he should buy it from his parents though ... as I mentioned above, he may need the money. Apart from education which is certainly going to command a significant sum, you never know what else life can throw at you.

[Coltona]

Ok here's the thing, I'm 16 and my dad BOUGHT me a truck, not gave me the family car, but went and bought one. Here's his reasoning:

Getting starter out is hard enough for someone, especially with a new car payment. He gave me this truck to help me get started, and to make sure I had a lifelong dependable vehicle.

The best thing you can do is sit down with your parents and explain to them What you're thinking about. See if you can make a deal with them. Keep the car until you can buy the jeep outright so you're not paying in the long run. And don't forget, you know owe them for that car, take them out for the day, and DEFINITELY say thank you about a thousand times lol.


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- Sent from my mobile iDevice using Tapatalk

[joopiduh]

The way I did it way back when I was still a young 'un, I got my parents to buy me a car of their choice, and I paid my parents back in installments plus interest, as you would if you took a loan from the bank.

I figured that it would give me a better sense of how much taking a loan actually means in reality, but at the same time, the money remains in the family.

The reason why I chose to let them pick the car was that I trusted their judgement on reliability more than my own, since they have all the real world experience under their belt.

This signalled to them two things.
1) That they can trust me in understanding how life really is, and that I was ready to stand on my own two feet.
2) That I was responsible enough to know my limits as a new driver. No point choosing a car by myself if I don't have the skills to drive it yet :)

[Piosidon]

Like the others said above save the money for school. A well educated person is very likely to become a successfully businessman. You can pay them back later when you're making serious money.

[Snakespeare]

Jeep Schmeep! Beemer FTW!

Your parents gave you the car for a reason. They want you to use your money for important things. And maybe they wouldn't get much in trade for it.

SUVs are less safe than sedans. They roll easily and do not roll well. So many kids die in SUVs. No, please do not get such a nasty thing.

As for the "rich kid stare", well, get used to it. You can't live in fear of other people's judgements. There are so many other people with so many different judgements you would eventually be unable to function. You know who you are. Live by your own judgements. The Buddha grew up rich, then ran away from home. Then he wandered around trying to do what others thought was right, and did not find any truth there. So he sat down and figured it out for himself. That's the right way. It doesn't matter what you have, but who you are.

[Raulur]

Jeeps are playthings, not daily drivers. I know many people with jeeps of some sort or another, and most of them have problems of some sort. They also get crappy gas mileage. My 97 Chevy 1/2 ton truck with a 350 V8 gets better mpg than cousin's 4 cylinder Jeep. So whether or not you keep the BMW, I would steer clear of a Jeep.

[StompArtist]

You would definitely make your parents proud. The flip side is that if you make installments you end up paying interest and you'll pay much more for the vehicle than what it is worth. An alternative option would be to offer some money to your parents for the BMW. Likely the will say "no" but it will make them really happy to see how their kid is responsible and honorable. Then turn around and supercharge that BMW!

[Zaltiar]

So, I have a question about cars. I currently drive a BMW 530XI that was given to me by my parents. The thing is, it was given to me, not earned. I want to be able to drive a car that I felt I paid for myself and not have to get the "Daddy's little rich boy" stares. So, I have saved enough of usable money that allows me to purchase a Jeep Compass with the Luxury Package. I will of course not pay it in full, but in installments, although I could pay it in full but I may need the money for unexpected circumstances. Getting to my question, should I purchase a car that I would pay for all myself or stick with the car given to me by my parents. I feel that it would heighten my sense of responsibility if I bought my own car and returned my parent's as to show them they do not need to care for me in every aspect of my life. Suggestions? Concerns? Please post!

Good on you bro!, I think you should question yourself first what's important to you. If you get that new car, you lose a lot of money that you could have used/ saved up for the future (or for PL *cough)
It would also show your parents that you're a lot older now and can fend off for yourself.
If you stick with your current car, (which is a nice car btw :| haha) you don't earn that extra self respect and the feeling of being independent. But you get to save up your money and
you can use it in the future, who knows, buy a present for your parents to show how much they mean to you. Maybe they'll be so proud, they'll get you a new car...lol
When I first came to Australia for my uni, my parents paid for everything, including all the ridiculous spendings lol, everyone called me a "rich a__" for that.
but really, I thought to my self, thats not "my" money at all, I didn't earn it, its my parent's that are rich and I started feeling bad. So, I got a part time job and started paying for all my expenses (excluding these ridiculous uni fees here lol)
, and now I'm glad to say I really feel like I've earned a lot more self respect. Just a little personal experience.
Anyways, whatever you're choice may be, make sure you know all the positives and negatives and go with your head not your heart.
Cheers

[Zeus]

I have actually taken a look at all their cars now. Checked out which ones are the safest. The reason why I didn't want the BMW was that it was brand new (just about, only 2 years old) with very low milage. I didn't want to ruin it as my first car. That and the "rich kid stare". So, we decided this, if it goes as plan. Most of you were right about my parents wanting to save money, so they said if it was about that, to take the least expensive car with the most miles and pay a quarter of its worth. That way I can show them I can pay for my things but still have money for college and my frivolous expenditures. So, hopefully in the next two weeks, my car should be a Lexus GS300 '08. It was a commuter car, so it had 150k miles, nearly halfway into it's lifespan. I think I'm content with my decision now. Thanks for the help! :D

[CrimsonTider]

Good for you, Parth. Your parents have obviously raised you with good moral values and real world common sense. Proud of ya!

[Sigkill]

Hey Parth, I'll happily take the BMW off your hands xD. If my parents bought me a BMW you wouldn't see me with any other car