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List: Posted: 12/10/10
Financing a car for yourself is intimidating enough. Now it's your child's turn to drive, and you don't even know where to start. Your best starting point is this question: Do I finance a new car for my child? The answer is no. Financing a new car for a teenager is just a bad idea.
Although your teen may be a good driver, accidents happen and they're much more likely to happen to a teenager. Don't get caught financing an expensive car that he or she might wreck in a few months.
Additionally, financing a new car costs a lot of money. If you're going to be financing a car for your child, look at cars that aren't very expensive. Hondas and Toyotas are great, reliable vehicles regardless of the year. Buy your child something that they like, but not something that you can't afford.
New cars lose twenty percent of their value within the first year. If you're financing a car for your daughter but you can't make a twenty percent down payment, you'll be upside down in your loan. You still have to pay for college, so financing an over-priced new BMW will only worsen your financial situation.
If you are concerned about maintenance on a used car, look into financing a car that is like-new. People trade in newer cars all the time, and sometimes you can find them at really great prices.
Since opening its doors in 1994 AA Driving Academy has had one goal; to "teach you safe, responsible and accountable driving". To date, our driving school is responsible for training, licensing and improving the driving of 60,000 student drivers that have graduated from our academy. We offer several services to facilitate your driving needs. We specialize in teaching collision-free, defensive driving techniques. This combined with a solid grounding of classroom theory gives students the strong foundation they need to develop a thorough understanding of the roads, rules & regulations. We offer behind the wheel training, driver improvement courses, reckless/aggressive courses, driver education and re-examination courses.
Absolute Driving School in Ashburn, Virginia provides professional driving lessons for teens and adults. We also provide driving testing and licensure. We proudly serve the State of Virginia.
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