Time to drive
My son just turned 15 and a half. Around here that means he is eligible for his learner’s permit. We headed down to the DMV so that he could take the written driver’s test. He passed, and also did really well with his attempts at learning to use a stick shift.
Of course, learning to drive leads to a host of associated responsibilities and expenses. They are fairly limited right now, since the insurance company does not begin charging additional premiums until after he gets his driver’s license, but the expenses are coming.
Even if he just uses my car, there will be additional insurance (my rate will more than triple), additional gas, additional wear & tear, licensing fees, and expenses for Driver’s Ed.
If he gets a car of his own to use, there will be the cost of the car itself, plus parking fees if he takes it to school.
Cars are expensive prospects. Naturally he wants to get one of his own. He’s been talking about getting a job so that he can save up money for a car, insurance, and gas. Part of me thinks that’s good. It’s good to be responsible and to save up for something you want. People also often value things that they earn themselves more. But a little part of me cringes a little at the thought of him getting on the work-for-stuff hamster wheel. Cars are not the same as wanting to get a new whatsit, saving up for it, buying it and being done. Cars are constant, ongoing expenses.
But I guess learning to manage constant, ongoing expenses is part of the growing-up process. After all, we all have regular expenses that we have to meet (food & shelter, if nothing else). Maybe it’s just good practice, especially if he is reasonable about it. (Which I think he will be.)
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August 21st, 2008 at 5:37 am
It is a good thing! He will learn to save for a goal! Working for stuff is what we all do and is a part of life. Given the choice to not work if we didn’t have to…none of us would! But we have to, we need housing, clothing, food, etc. So really, we’re all working for ’stuff’! Your son getting a job is a great thing…it is teaching him responsibility. Maybe he’ll be one of those rare kids who doesn’t carry around a huge sense of entitlement to getting everything in life handed to them!
August 21st, 2008 at 7:51 am
Him saving up and being able to pay for his own car is a good idea – he’ll learn early on that cars are nothing more than very expensive money pits. My car costs me more than it should just for the privilege of driving around. Granted I need to do this from time to time but the cost of that is daunting (and I don’t drive an expensive car). Its probably best that he learns the ugly truth behind cars early on so when he’s older he’ll keep it in mind when planning his finances.
August 21st, 2008 at 9:04 am
It sounds like you’re teaching him well and giving him the right tools to succeed. You hear about so many parents these days that just hand their kids the keys to their first car without the child doing anything. This can only lead to trouble down the road as they’ll never understand the true obligation, not only up front but as time goes on. Sounds like you’re doing all the right things. Good luck!
August 21st, 2008 at 9:46 am
With your good guidance, he’ll learn to manage the expenses and responsibilities of car ownership.
Keep in mind that his insurance will likely be astronomical if he does get his own car. If it would increase your insurance 3x to have him added, expect for him to pay several times more for his own car. Trust me, I know this one from experience! My first car cost $400 to buy, and $2500 to insure, and that was with a couple of years driving experience under my belt. The quote I received when I first got my license was over $4,000.
Good luck, and tell him to drive safely!
August 21st, 2008 at 5:47 pm
Thanks guys. It’s amazing how much cars cost to own and operate. Even inexpensive cars! I’m going to have to check with our insurance on the affects of having him as a primary driver on a third car — hopefully they can at least give me a vague idea.