Basics

Every teen I’ve ever spoken to wants to own their set of wheels.  We will all get them eventually, but probably at different times.  If you are in a rural area, you might need a vehicle just to get food.  Those living in a city with good public transportation might not need a car immediately.  And they are really expensive! Decide what you really need.  Those extras like navigation, leather seats really add up.  Look at the basics:  You need to purchase the car, get insurance, pay for gas and then maintain it.  I’m just going to cover the basics and then refer you to the experts.  First make a budget and do your research.

You have to answer the following questions:
  • How I am going to finance it—parents, me, or both?
  • What is my projected budget—not only for the purchase but all the other...