Should You Buy Your Child a Car as a College Send-off Gift?

It’s common for a lot of parents to give their children a new car as a send-off gift for college. Graduating from high school and making it into college is a huge accomplishment. Parents want to reward that behaviour by giving a new car. If you’re considering it, these are the things to remember. 

There need to be some conditions

You will allow your child to drive a car to go to college, and it comes with risks. You don’t want your child to use it to go to different locations and have fun. Instead of spending time studying, your child ends up partying endlessly. You don’t want it to happen, and setting rules from the start will help. 

It’s a practical choice

It’s natural for you to give your child a gift as a reward for achieving milestones in life. Giving a car is a practical option. It’s not only a gift that your child will love, but it’s also useful. You can give other gifts that are cheaper than a car, but they’re not as functional. Therefore, it’s an excellent choice if you decide to buy a car.

Check how much you can afford

Some parents give their old cars to their children, and buy a new one for themselves. Children who use a vehicle for college will be happy driving it. It doesn’t matter which type of vehicle they have. If you intend to buy a new car, it’s your choice. As long as you have enough money to buy one. However, you need to remember that sending children to college costs a lot. If you think a used car or a cheaper car model would be good enough, there’s no need to purchase an expensive option. 

You can also consider no deposit car finance like the deals offered by www.carfinancegiant.co.uk. The good thing with this option is that you can quickly get a loan and purchase a car. You don’t need to have enough money to pay for the deposit right away. The amount is divided over several months, and no payment starts until the following month. It means that if you wish to buy the car in time for your send-off party, it’s possible. 

You will make your child happy

As a parent, you only wish to have the best for your child. If you think a car would be an excellent gift for someone going to college, you have to buy it. Besides, you know that you raised your child well. You can feel proud of this gift since you know your child will use it wisely. 

If there are issues along the way, you need a plan to prevent your child from using the car. It’s true, especially if it starts to affect academic performance. You bought the car to make it easier for your child to move around and accomplish academic requirements. It needs to stay that way.