The "New" Car

I encourage my girls to set goals and I like to coach them so they can succeed.  Before my oldest daughter even got her learners permit she was talking to me about a car of her own.  I told her owning a car is great, but it is also very expensive.  There is much more to it than just the price of the car.  There is fuel, oil, maintenance, tires, repairs and of course, let us not forget, auto insurance.  Which, as most of you are probably well aware, is really pricey for a teenager.  In order to get a car she needed to get a job.

My daughter loves these Nissan Cubes - Go figure!
This is not her car!

She got a job.  Last summer she worked full time as a paid intern and she put nearly every bit of that money into her savings account.  When that job ended she got another one and she once again put every bit of her money into her savings account until she had acquired quite a bit.  Enough for a car.

Or one of these.... not in the budget

So we started to look.  Actually, I've been steadily looking for about six months, unbeknownst to her, but that's what I do.  I start the process, see what is out there and what prices are like.  She had a certain style of car in mind and we discussed the fact that you usually don't get what you want right off the bat, but rather what you can afford and what is the best value for the money you have.  She scaled back her expectations.

She also wants one of these.  Keep dreaming sweetie.

I found a car on Craigslist that I felt was not only a good bargain, but would also be a good compromise to what she had her heart set on.  A 2005 Scion XB with fairly low miles and a salvage title.  I personally don't shy away from salvage title automobiles, especially for new drivers.  You save a ton of money on the car and the insurance because you only run liability on them.  Insurance has already paid out on them and they aren't going to do it again.

This one IS hers 😃

This one was purchased by an insurance adjuster that picked it up and repaired it for his wife to use as her daily driver.  Then his daughter learned to drive with it.  They owned it for six years and they were ready to upgrade.  He has done A LOT to this vehicle and it is in really nice shape for being a fourteen year old car.  We went over it from one end to the other.  I went over it myself and confirmed what the owner was telling me rang true.  The interior is perfect and while the exterior is showing signs of age it is something we can fix and we will be doing that this summer.

We have a few repairs to do, but nothing major.  It has newer tires, new brakes, a newer battery, a new windshield and has been routinely maintained.  It is super clean under the hood and runs like a top.  No leaks, no burning oil, belts and hoses look good, all the systems are functioning.  I felt pretty confident this car had been well cared for.

While purchasing a vehicle is exciting it can also be pretty nerve racking.  The guy had it priced really well so we knew it was a good value, nonetheless I coached her to tell him she liked the car but needed to go home and sleep on it.  The next morning I asked her if she still felt she wanted the car and she did.  She felt good about it.  I coached her to make him an offer of $500 less than his asking price and see what he said.  He accepted her offer and later that day we went to the bank.

I am really proud of my girls and how hard they are willing to work.  I'm also very proud of my oldest for how hard she is working to get into college and apply for every scholarship and grant she can get her hands on.  So while we were at the bank I removed $1000 from my savings account and gave it to her to use toward her purchase.  It was completely unexpected and she was incredibly grateful.  She is a great kid!

So, while this is not the car she initially wanted it is pretty darn close.  She has learned how to test drive and inspect a car, what questions to ask, how to negotiate a sale, navigate the insurance and DMV process, put license plates on and check her fluids as well as learning to drive and park it.  The lessons will continue as time goes on and next month she will be taking her driving test and getting her license.

The best part is - she loves it.