Parenting 101 MISTAKE? Would YOU Give Your Kid An Expensive Car For Their 17th Birthday?

For these people, it’s all about keeping up with the Jones. They can parade around flaunting that they are rich enough to buy their kid a new BMW. What they do not realize is they are teaching their children how not to earn a living, and respect the things they have.

I don't think it's a stretch, really. This car was probably around $50k. If she had given her daughter a top-line Accord or Camry, no one would bat an eye, but that would have cost close to $40k for either. But, because it's a BMW, the sirens go off.

The reality is that rich folks buy their kids nice things. That's okay. They are allowed.

If you must by a car for your child (I wouldn't) but if you do, talk to your insurance agent and ask about Accident Benefit ratings for the vehicle. The more hurt you are in an accident the higher the rating. A thrifty purchase of a Honda Fit, Fiat 500 or a Toyota Yaris may not protect your child in the same manner as a 3 or 5-year-old SUV. Sadly MASS = Survivability. PS- Get them to ride the bus/subway. It builds character.

Very wise move to check insurance. ABS and air bags in a Camry easily trump the cool factor of an older "classic" without them for example. People should perhaps consider excellent CPO vehicles. If you know someone in the dealer business you can easily ask them to find you a good car. I've done so for several of our long-term, repeat clients who either wanted a used car for their kid or wanted a friend of theirs who was looking not to get screwed. Done deal and happy to be of service. We routinely treat our repeat customers with this kind of extra consideration.

There are a lot cheaper ways to make your kid an idiot.

If you get your kid an expensive car as their first one, what's up from there, a "G6" jet?

I will be in the position to buy my sons new cars when they turn 16, but they will get good basic used cars first.

My boys are young, but are around me and my parade of cars. They also see me working on them and flipping them. They will have to work their way up as I did.

We got our "live-in son" (the son of a friend of a friend we took in as a foster kid) an 05 F150 when he turned 16.

My wife's family is rolling in money and she got a new car at 16, but it was a bottom-of-the-line Jetta.

We agree that for example if we went new right now the twins--who are first in line--would share something like a basic Focus rather than matching Shelbys.

At least Teresa, the Head Housewife, bought (more like leased!) her daughter one of the better BMW's currently on offer, the 430i.

Although I live in NYC, my son (who is nearing driving age) goes to a nearby private school in Bergen County (i.e Housewives Country) and I never ceased to be amazed at the rides that show up in the student parking lot as the year goes on and the little stinkers get their licenses.

For the smug among you, I will note that its the kids with the worst grades who generally drive the best (or most inappropriate) cars. Current tops a new Maserati Ghibli (but I guess someone has to buy those!).

One of my favourite TV show lines of all times if from the 1970's show "Good Times" where a girl says something like

"...Sally gets driven to school in their 2 seater XKE and the mom says...well, honey, you get driven to school in the 52-seater B-U-S.

Having been to two of those private schools I can attest to some very interesting first rides.

My personal favorite was a kid that had an Escalade and a Gallardo — father was in the car business. Another kid had a C55. Another had a Saleen Mustang Convertible, which quickly made friends with a curb while going sideways and was totaled, etc., etc.

What I will say is that most of the kids are humble and hard working. Keyword here is "most" though.

Who doesn't love a Chrysler 300?

My first set of Kids and most of the rest participated in the BUILDING of their cars from scrap parts. There might have been an occasionally whole scrap car we rebuilt - but most of the engines and transmissions were likely built separately. This started well before their 17th birthday (Driving age in NJ). All of them had to be able (Including my daughters) to change a tire - perform an oil change - do a tune up (back when there were points to set too) and detail their own car. Most of the cars were of the big iron variety - which were the lowest insurance estimates as well. THey were brought up knowing that would be expected - and all looked forward to it. This was at the time when I preferred contributing to their college funds rather than spending a lot of money on cars -but also understand that I had a Barn that had a Car Lift in it - and as some of you know - I rebuilt racing transmissions on the side.

I can still remember how they took care of these cars as if they were GOLD - the interiors tended to be spotless after they reupholstered them. AND I also remember them crying the day that they had to finally had to give them up. I think they were extra careful not to get into an accident because of the effort that they put in as well. Maybe this came from my first car - a 1939 Chevy Master - with three speed on the Column - which was Actually older than I was.

I believe that giving them a 4 year college fund was far more appropriate - and still do so today. Yes - some of the colors would not have been what I would have picked - and some of the engines had more than others - but they learned the real value of transportation. TOO BAD this cannot be done today the same way. Car are too complex and too computerized to do what we did - although one could still restore a car - more of the parts would have to be BOUGHT - than fixed.

But - the CHrysler 300 I had was likely NOT THE ONE that MATT is referring to - but once you had THAT one - the current one is not so exciting. Mine had a REAL Hemi!

I was making reference to the Ghibli being a Chrysler 300.

Yes - I got that Matt - but I still would like my first 300 Back.

Oh - By the way Matt - That 1939 Chevrolet Master I had when I was young - is still on the road - still owned by the SON of the man I sold it to. I recently had to help fix a problem with the Column SHifter - but probably only because most today have NEVER even seen one before. I see the car when passing his house probably at least once a week. Always brings back memories. but that back seat has never talked!

I was very good at keeping an early seventies Mustang Grande running. I call it "early seventies" because it was a junk pile when I got it and I got it running by cobbling together parts from different year Mustangs. It was a disaster of a car but I kept it running.

Back when the 996 Twin Turbos first came out and they were selling huge $$$ over MSRP I had some moron try to buy my car for his kids 16th birthday. I refused to sell it to him even though he offered me crazy money as that is seriously FUBAR to give a Kid such a beast for a first car and I wasn't going to contribute to his death. Besides everyone's first car is suppose to be a beater POS...

I'd have taken the money.

Would I? No.

Do I care if some rich yahoo wants to give his kid one? No.

If you're the kind of person who needs to flaunt your wealth, of course you get the kid an expensive car.

Give your kid a safe car. Also though manuals are going out of fashion it is likely the best way to keep them from texting while driving.

I don’t see what a big deal is...a 430i is hardly flaunting wealth especially considering that the leases are not crazy expensive on them. Some people seem to have a moral issue to anyone having more than they did or do have. I would certainly give my child a Low end CPO or leased European vehicle when they learn to drive. The cars are very safe...look at real world fatality data and not the crock iihs tests.

I like how the article points out "HIGH-END" features like a moon roof and leather.... A Mazda3 has those options.

Only the envious poor people who wish they were Kardashians.

What it gets down to is how much you want to pay for insurance for your kid. Being an insurance agent in New Mexico I can tell you that a 17 year old insured on the wrong kind of new car(like a Mustang or Camaro) could be rated at 12K a year or more. My recommendation buy your kid a 6 or 7 year old compact car. Something that you do not necessarily have to carry full coverage on would be ideal. On average a 17 year old kid has not developed the hand/eye coordination of a 22-25 year old. After 25 one is considered a semi responsible human being and will be rated a bit more favorably. Also remember as a parent/guardian you have the legal right to take away your kids license until he or she is 21 if you feel the risk or cost is too great. This is how it works in New Mexico.

The question posed in the body of the article above is: " Is this a parenting MISTAKE or something every parent would do if the funds were available?"....

I have the funds available. I could have just given my kid the 640iX Gran Coupe instead of trading it in for the last car I purchased. Instead I got my 16 year old a new Escape. I think allowing a child to drive a high end car even if it's old with high miles sends the wrong message. And I don't mean the message that you are an obnoxious brat. I mean the message as a parent that you can have any thing you want even if it's not practical. Money is not the issue here. Wealthy parents can raise their kids to have values and respect. When you see a 16 year old in a new BMW odds are that other things around them will crash and not the car

I will "help" my kids get their 1st car & teach them how to maintain it. After that, they're on their own.

Now, if they are high-achieving, hardworking students who play sports, then I'll likely considering getting something agreeable for their 1st car - not a problem.

If I happen to win the Lottery, I'll be on them like Bill & Melinda Gates....my fortune won't be given, expect to get an education be humble & earn it.