What Car Should I Get My 16 Year Old

But even if you eliminate all the interest by scoring a 0 rate on a new purchase the old car would still be cheaper to own than the new one. If youre a parent with means and you can go out and buy a brand new car for your child we absolutely recommend buying one with a.

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My first car was a 1970 Datsun 510 with about a million miles on it that my cousin gave to me for free.

What car should i get my 16 year old. Your car has already taken that depreciation hit. The Insurance Institute for Highway Safety IIHS rates cars according to their safety record and educates us on reducing crashes. IHSS advice is simple.

Dear Tom and Ray. Otherwise if you plan to maintain it for fewer years buying an older car with more miles can increase your savings. As Tom has already pointed out Volkswagens are an excellent place to start for a project like this.

And heres an opposing view. Three cheers for the Wise Squirrel. The Lexus ES300h gets the fuel economy of a car half its size and the legendary Lexus reliability means that your grandkids might inherit this car someday and think more fondly of you than if.

I sold it for 800 but now I hear they are getting over 10000 for some of them. IIHS states that the fatal crash rate for teen drivers who are 16-17 years old is about 3 times the rate for drivers 20 and older. Even if youre under the age of majority which is 18 in most states you can buy and insure a car Gusner explains.

My father bought me a brand-new 1968 SS 396 Camaro for my 16th birthday back in 1968. As a very general rule of thumb a car is usually reliable up to 5 years providing it has been maintained. It wasnt necessarily the car but what I did with it.

While many states have no issue with a 16-year-old owning a car and titling it in their own name insurance companies are often reluctant to enter into a contract an insurance policy is a contract with a minor which means the teen cannot legally drive the car. Buy a used car. You could light up the tires in any gear.

The short answer is yes But the teen may not be able to drive it without involving parents in the insurance coverage. To maximize your savings you should buy a younger car with fewer miles if you plan to maintain it for many years. But if you look at the older car market youre likely to get a model at an even lower cost.

A well-maintained 10-year-old car could possibly be a better investment than a newer model which hasnt been looked after. You the 16-year-old get the 20-year-old Corolla and youre happy to have it. We asked RepairPal to break down repair costs by automaker as well as by year.

A lower rate helps. As for the GM 3800 motors true enough they are bulletproof but they are also powerful enough to be very exciting for a 16 year old boy especially in a midsize car like a Grand Prix or Buick Regal so one of these may not be the best choice. You only have a learners permit and need an adult that has been licensed for three or more years with you while youre driving.

Gusner says that in most states a 16-year-old can own a car and insure it -- but only if a parent or legal guardian co-signs for both the vehicles title and insurance coverage. This is the universally accepted shape of the teenager-parent automotive hierarchy. Drivers 16-17 are 3x more likely to die in a crash than 20 year olds.

Even older Minis ring up more than 1000 a year in repairs on average. Theres no shortage of Golfs and Jettas in your general. Car ownership can be difficult when a minor is involved.

The Camaro was fast. May 26 2015. For a Honda Accord my analysis suggests that buying a five- to ten-year-old model will maximize savings.

Just be sure they keep up the grades-- Glenn RAY. A 16 year old should not have their own car even if they can pay for it themselves. You really need the car to last a while longer.

While the average 10-year-old car may cost 600 a year to repair the average Mercedes-Benz costs more than 1500 a year to keep running at that age and the average BMW about 1300. A new car typically loses an estimated 22 percent of its value in the first year. At 16 you dont have a license.

Looking back its a miracle I survived. I fixed it up put a new engine in it and drove it for about 16 years putting over 200000 miles on it.

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