Buying Your College Student A New Car

Buying Your Grad Their Own Set of Wheels

Buying Your College Student A New CarYou finally have a graduate. It seems like only yesterday you were dropping them off at their first day of Kindergarten, but now, they are off to college.  Sending them off to college in style may be what you have in mind, and buying them a car may be just the gift you have in mind.

The temptation to buy your child a car as a graduation gift is a big one. It is a great way to help them before you send them off to college and it is a nice way to congratulate them on a job well done. You can even teach them some financial responsibility by having them pay for some of the cost, their insurance, and even the fuel and maintenance.

A car as a gift can be beneficial to your new college student in several ways:

  • Your child will have reliable transportation while they are off at school
  • You can pick out the safest and most economic vehicle
  • It’s an opportunity to teach your child the how to take care of something valuable

Should you buy a new or a used car?

When deciding on a new or used car for your college bound child, it really comes down to your own personal choice. Look at the budget for the purchase. A new car may be out of your price range; however, you could find a used vehicle between one and six years old may be just right. A “newer” used car will still provide the reliability you need while not breaking the bank.

Include Your Grad in the Buying Experience

Buying a vehicle is daunting to many people. Include your grad in the car buying process and give them valuable lessons on how to purchase their next vehicle all on their own. This is a great way to show them how to budget, negotiate with the dealership, shop for insurance, and plan for future vehicle expenses.

We are here to help.

If you need help with choosing the right vehicle, financing, or finding a dealer near you, be sure to check out our Member Auto Center. At PrimeWay, we are here to help you every step of the way.