Help your teen make a smart choice.
The late teens and early twenties are a critical period for everyone — you don’t know a lot about how the world works yet, but you’re expected to make decisions that will affect your life twenty, thirty, even forty years from now. If you have children in their teens, you understand how exhilarating and nerve-wracking this time can be. While you may not have as much influence as you’d like when it comes to who they date or what they choose to major in at college, you probably can steer them in the right direction when it comes to managing their money, choosing the right car, and applying for a car loan.
Going on the car search with a parent can be an ideal way for teenagers to learn about making smart choices the next time they need an auto loan. Our First-Time Buyer’s Guide offers sound advice for anyone who’s a novice to the car loan financing process. Read over it with your teen or come in together to talk about car loans. Here are a few more tips to make buying your teenager’s first car a great experience for everyone.