Mom And Dad's Guide To Buying A Car For Their Graduate

Posted on: 6 May 2016

For parents looking forward to seeing their child walk across the stage at graduation, the thought of buying a car as a graduation gift is common. But most parents do not have the cash to buy a new car, so looking at used ones is also common. Before you go out to purchase a used car for your graduating teen, check out these tips for getting a good one.

Look Into Your Budget

You may be adding bills into your budget for graduation party supplies, for moving to a college and more when you are supporting a graduating high school student. Therefore, sitting down and figuring out how much you can afford to pay for a used car is the best first step you can take in buying one. In this way, you do not have to worry about taking on a second job later to pay it off. Remember to add in saving for a down payment so your monthly payments will not be too high. Factor in the cost of insurance for your graduate's car as well. Knowing how much you can afford can help to narrow your search for a car.

Choosing Between A Dealership Or Individual Seller

If you are sending your graduate off to college with the car you buy, you want to know it is reliable and safe to drive. For this reason, choosing one from a used car dealership that offers warranties on their vehicles is a good idea. You can also request a car report from a dealership detailing the repairs and other kinds of issues a particular vehicle has had in the past. When you buy a car from an individual seller, you should always take it to a qualified mechanic for having it checked out. Be sure to test drive any used vehicle you are considering for purchase, whether it is from a dealer or individual seller.

Remember The Needs Of Your Student

When selecting the kind of vehicle that will be best for your student, keep in mind their interests. For example, if your student likes to take off skiing on the weekends, making sure the car you buy has room for ski equipment is a good idea. If your student is one that stays indoors and reads a lot, a smaller, compact vehicle may be your best option. Discuss with your graduate about the needs he or she has for a car.

Making the right choices about the vehicle you purchase for your graduate is extremely important. Always take your time and never rush into a deal because it seems like a good one. The last thing you need is your student calling you up in the middle of the night because he or she is broke down on the side of the road. Keep these tips in mind when you're looking to buy used cars