Should I put my foot down about this?

[MissMillie]

My son is 17. His dad died last year and we just learned that there's a little bit of money that my son inherited and will be getting soon.

A friend of mine's father has an old Pontiac (a big car) that he would like to give away. Other than one small inexpensive repair, the car is in working order. I would like my son to take this car. Yes, I know it's a gas guzzler, but my son will only be going to work (5 mi) and back (and later in the year to school and back--another 5 mi). I like that the car is practically free, in pretty decent shape, and that should there be an accident, there's a lot of sturdy metal surrounding my boy.

My son wants to take the money his father left him and buy a car for $2500.

The insurance is going to cost him about $1800 year. (Yes, it's expensive, but that's how it is for new drivers in Massachusetts.)

This check that my son is about to get is being made out to me (since he is a minor) so I know I have the legal ability to do as I see fit. But how much should I put my foot down on this one?

What do you all think?

[matcom]

1. advise him to take the freebie

and do something more meaningful with the $$, then sign it over to him and let him do what he wishes.

if he still wants to spend it on the other car its his $$.

my .02 anyway

[Midlodemocrat]

2. I like the idea of your son being in a safe, sturdy car.

Have him invest the money and then in a few years, after college, maybe, he will have a nice little start to his adult life.

:hi:

[pstans]

3. I think you have the right idea

If your son wants to buy a car for $2500, it probably isn't that good of car since it is so cheap. Explain to him to him that if he gets the old Pontiac, then he can save the money and buy an even cooler car in a few years, or use the money to go on a trip, or for college, etc.

[flamingyouth]

4. I agree with you.

He should take the free car. For the tiny amount of driving he'll be doing, the gas mileage isn't that big of an issue, especially since it's essentially free. :hi:

[Kilroy003]

5. Is it an old Bonneville?

If so, tell your son that the old Bonnie's will drive through snow banks and stuff (big V-8 engine). That might get him to take it.

At the very least he should test drive it, I had a 79' Bonneville in High School; it was awesome.

If it's an old GTO, can I have it?

[MissMillie]

9. It's a Parisienne (sp?)

an '86 (the car is older than he is)

[Kilroy003]

15. Cool; even better.

As long as it isn't a Skylark, he should be fine.

Tell him I said he should take the car. Then ground him if he says no.

Perhaps if you remind him that the $2500 would pay for one hell of spring-break trip (he'll be a senior I assume?), he'd be more willing.

[koopie57]

6. I always give my kids choices ....

take the free car or a buy a new bike.

[sleipnir]

7. Does he have a job?

If he has a job, then perhaps he'll find the way to pay the $1800.

He's still young, but maybe this is a good lesson is responsible buying and maintenance. I think you should try to push the Pontiac, but not too far.

Or maybe agree if he takes the Pontiac and he takes good care of it, you'll help him buy a newer car in two years time. Sort of a test of his responsibility as a car owner

[MissMillie]

10. He does have a job

But he works at a seafood place that will close for the winter (in October) so I'm concerned about what he will do during the fall and winter).

[sleipnir]

26. Hummm...good point.

Well, that does throw a kink into the works.

I'd say take the cheap route, but perhaps convince him that it's the best and again, maybe suggest you will give him some level of fiscal support in buying a different car in two years, if he proves he can upkeep his vehicle.

If he goes off to college, he may need a "newer" car or one that will last for 4 years of driving back home on holidays.

[FloridaPat]

8. Maybe point out the insurance facts of life to your son. Point out

that the insurance is high and if he has the cheap car he wouldn't have to pay for the car - just the liability. And that the insurance will eat all the money that he got from his dad. Of course, I'm assuming the $1800 covers the car.

[MissMillie]

12. it doesn't

(at least I don't think it does)

[Deep13]

21. I used to live in MA...

... in the 1980s as a new driver and I paid $600/yr. for compulsory. That a policy limit of something like $12,000. I lived out in the sticks and that was 20 years ago.

[Deep13]

11. "I know I have the legal ability to do as I see fit."

I don't know that to be true. In this state, money inherited by minors is impounded until they turn 18.

I don't know that big cars are necessarily safer for the driver than small ones, especially if you are comparing old big cars to new small ones. Remember that it is the second collision which is the most dangerous, the collision between the occupant and the car as a result of inertia.

Once a week at least any car needs to be taken to highway speeds for at least half an hour or else condensation will accumulate in the engine.

[havocmom]

13. Look into the possibility of putting the $$ in a trust for him, to be

accessible when he is 21 or 25, perhaps. If you can do this, it will give him time to really think about how the money would be best used while he also gains a bit more life experience.

The temporary lock-up of the funds will probably make the freebie seem much more attractive too. ;)

Look into it, since, as you mentioned, the check goes to you. If you can put the funds in trust, you may have some bruised feelings to deal with, but if your relationship is otherwise sound, in the long run your son will probably thank you for keeping him from 'pissing the money away'.

Good luck. :thumbsup:

[napi21]

14. There's another advantage to the free car that no one has mentioned.

Most of the teens I've heard about who get involved in accidents or worse, had really nice "sports cars". I realize your son probably thinks of this old Pontiac as an old mans car, but that can play a big part in his safety too. It's a little less tempting to drag race with your buddy or the car next to you at the red light, and you're right, it is safer.

[MissMillie]

18. Oh, I dunno about that

this beast has a big ole engine.... I'll bet he could leave some of those little sports cars in the dust.

He knows how I feel about that though. I've often said to him that I thought a teenagers first car should run on gerbil power, not horsepower.

[hickman1937]

16. Most 17yr olds wouldn't recognize fiscal responsibility if it

was wearing a wet t-shirt. Chances are that he'll buy the car, then be too broke to maintain it in a few months. If he won't listen to reason, demand that he pay 6 months insurance up front.

[GreenPartyVoter]

17. Freebie. We once bought a Honda CRX cause it was cute. A month later

it was dead. Thousand dollars down the drain.

[Ready4Change]

19. Advise, but allow him to make his own choice.

The money is from his dead father. Despite your legal right to control the money, to me this is a chance for his father to teach his son a lesson about responsibility. Controlling that inheritance, either well or not, will be a valuable learning experience.

If instead you force your will on him, he may resent your usurpement of his fathers money. You can be sure that every single problem with the freebie car will be put squarely on your head and become a wedge between you two.

But if you let it be his choice I'd think the outcome would be far more positive.

Then again, I'm not a parent. What do I know?

[happyslug]

20. I hate to say this, but I do NOT like either option.

First if his job is only five miles away, he can bike to it. For my first job I had to bike to it and it was a lot further away (That is when I was NOT walking to the job site). As to the road, it was an old one lane in each direction old State Road built in 1912 without any curb or beam. When I biked that road it was the main (and still is the main) suburban highway in the area with very high traffic levels. I biked it for it was the only way to get to my work. IT saved me a lot of gas and insurance. With Gas at $2.29 (in Johnstown Pa) and expected to go higher over the next half year (and than maybe drop) buying car that you really don't need makes no financial sense.

As to the Pontiac, sounds like your son does not believe it is a "Cool car" (If "Cool" is still in Teenage vocabulary any more). He would like something "Cooler". Just say no, it is your insurance he will be on.

Also check the insurance rate for the car he wants. Insurance rates do go up and down depending on the car, the general rule is the "cooler" the car the higher the Insurance (Basically because more teenagers drive them, or want to be in them, and thus have a higher rate of accidents).

One of the Statistics involving Teens and Accidents is that one teen in a car is NOT a problem, it is when you have more than one teen in the car. Teens do not have the experience to ignore other people in the car when their are driving and as such more likely to have an accident. The Pontiac may be just "old fashioned" that he and his friends just do not want to be seen in it (Just like Teens hate being seen in mini-vans).

My Advice would first to avoid both cars till you have a better idea on what the price of Gasoline will be, and than if you decide that he still needs a Car AND gas prices are NOT outrageous, than opt for the Pontiac do to its low price (Yes by implication my advice is really for you NOT to buy either car and hold onto the money till he turns 18 when he can waste the money as he sees fit for I see the gas problem becoming clearer to everyone by that time).

One more piece of advice, when I was in Collage and later Boot Camp I was shocked by the people who did NOT know how to get around other than by car. I had been using bicycles, walking and using mass transit for years while I was in Junior high and high school (I also drove, but with only one car in the family, a rare option). I always said Teens need to learn to get around OTHER THAN BY AUTOMOBILE and I believe this is true also of College students SO THEY GET USE TO THE IDEA OF GETTING AROUND WITHOUT AN AUTOMOBILE. Thus I think you should get him use to getting to work other than by car till at least his 18th birthday (and preferably till his Sophomore year in College).

[Deep13]

23. pretty much

I cycled to me job at Webster Sq., Worcester, MA from Leicester. That's about 5 mi. Rt.9 had few sidewalk and no berm and it was a bastard in winter. What was really hard was the return night ride which was mostly uphill. School was a quarter mile away, so walking was pretty easy. When I finally got a beater, every dime I made ended up servicing it or buying insurance. What a waste of money.

[MissMillie]

24. The road is too busy

for him to bike on it. It's narrow, and very heavily travelled. I do not feel safe with him on a bike on that road.

Also: there's a law in this state against kids driving other kids. He will not be allowed to drive other kids (except those living in his household) for 6 months.

Then again, he'll be 18 in just a few months.

[SmokingJacket]

22. I'd sit him down and tell him why you want him to have the Pontiac...

and I'd offer something else to sweeten the deal -- maybe pay for part of the insurance if he gets the "safe" car. But I'd give him the money and let him make his own decision.

[XemaSab]

25. Bait and switch

tell him to take the freebie and give him the check after he takes the pontiac. Let him pay for insurance himself. Then suggest other things he could do with the money, like take a trip somewhere or pay for college. Once he has the pontiac there will be some inertia there, and he'll be less likely to pay for a new car.