Upper-Middle-Class Parents Were Asked If Their Teens Get New Cars. One Comment Revealed A Shift, 'I Tried. Kid Doesn't Want It Or Need It'

When it comes to giving teenagers a car, many upper-middle-class families are weighing the same question: Do you pass down your old car or buy them a new or a used car? A recent Reddit thread offered a revealing look at how families are approaching this milestone. Hand-Me-Down Or Save Up? One parent kicked things off by asking, “Are you all giving your kids your old cars and upgrading yourselves, or holding on to your old cars as long as possible and buying your kid ‘cheap’ used cars?” Don't Miss: Missed Nvidia and Tesla? RAD Intel Could Be the Next AI Powerhouse — Just $0.85 a Share Sam Altman Says AI Will Transform the Economy — This Platform Lets Investors Back Private Tech Early Some said they're keeping older vehicles for their kids to drive temporarily. “I have a 15-year-old and we kept an old car for them to use during the first couple years of learning. We will buy a nice car as a college grad gift,” one person said. Another added, “We're in the same spot. Just picked up a nice new car for the wife. The incredibly reliable 10-year-old Toyota has been kept because it's cheap to insure and register and it’ll make a good car my now 14-year-old will borrow.” Insurance costs were a big factor, especially for boys. So the older cars make so much sense. Mine is a Honda with black duct tape holding part of the bumper on,” one parent said. “My kid will be driving a cruddy car in a fairly affluent school but I think that will make him humble." Then came a comment that summed up a noticeable shift in mindset. “I tried,” one commenter said. “Kid doesn't want it or need it. They're at a university with a robust transit setup.” Trending: Americans With a Financial Plan Can 4X Their Wealth — Get Your Personalized Plan from a CFP Pro New Norms For A New Generation Several parents echoed that sentiment. “Now kids don’t wanna drive as much,” one said. “In 2035 it’ll probably just be subscription to robo taxis.” “My 16 year old doesn’t even have his permit yet,” another wrote. “Driving at 16 is not nearly as common as it was when I was a teen.” Still, most families are planning ahead. Whether it’s handing down a reliable car, buying a certified pre-owned, or funding a new one, many are budgeting early. “I refuse to ever be sucked into a loan for a car again,” a parent said. “In 10 years, our cars will be pretty old and it might be time to throw down $60,000 cash. Might be smart to start saving in five years.” That long-term planning mindset matches the kind of financial guidance offered by tools like Domain Money, a service designed for households earning over $100,000. It connects families with expert financial planners who can help map out major life expenses, like funding a car for a future teen driver, without sacrificing other goals like retirement. See Also: If there was a new fund backed by Jeff Bezos offering a 7-9% target yield with monthly dividends would you invest in it? Safety Over Flashy While a few mentioned getting new or lightly used cars with advanced safety features, most parents were firmly against giving teens expensive or flashy rides. “They’re sure not getting something new,” one person wrote bluntly. Others warned that even responsible teens tend to get into accidents early on, and safety should come first. Used Subarus, Hondas and Toyotas were the most mentioned picks, with parents emphasizing crash ratings, insurance savings, and modest appearances. “I bought used Subaru Outbacks for both my kids,” one said. “It crashes well. If you get it in a dark color, it takes dings, scratches, scrapes and dents pretty well without looking horrendous. Other vehicles tend not to aggressively tailgate or cut off Outback drivers.” But the real motivation wasn’t just safety or saving money. “I hear people say that you spoil your kid by giving him/her a car,” a parent said. “I didn’t do it to spoil them. I did it to spoil me after 16 years of driving their asses around.” Read Next: Missed Tesla? EnergyX Is Tackling the Next $200 Billion Opportunity — Lithium Image: Shutterstock