Wednesday, July 16, 2014

Buying 18yr/o son a New Car?

Good evening everyone, and thank you for taking time to respond. My 18 year old Son: Troy, has been badgering me and my wife about BMW's for years. From Spotting them out on the roads to racing up to me with the newest models in the motor trend spreads. When it came time for him to receive a car my wife and I weren't financially prepared to drop a lump on his dream car; I had just opened my dental practice and with my wife just opening her podiatry clinic, all of our available finances were being utilized and poured into our practices. So we made the decision to buy him an '06 Honda Civic. It had 3 previous owners and the car fax was pristine, and with the MSRP being 13,500 it was more practical for the moment. It's been 2 years since then, Troy hasn't had any accidents however I cannot say the same for speeding tickets which is normal for his age group. Business in Calabasas is better than ever, and our practices have flourished and the profits are wonderful, which means now when Troy approaches me with these spreads, I no longer have a legit ament reason for why he cannot have one. He'll be going to college next month and my wife and I thought it would be a wonderful surprise, however due to the plethora of speeding tickets I am reaping the repercussions of paying the bill, a coupe is out of question. Is this a good idea. What model is age appropriate?

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