Originally Posted by bplewis24
Agreed. All of us would prefer to have money rather than be poor. But this isn't a referendum on that topic. The issue is something closer to: would you rather have rich parents raise rich, spoiled brats, or have rich parents raise financially responsible kids that appreciate the value of a dollar?
I haven't heard one word from him that indicates that he is "spoiled". If he's doing the things that he is supposed to be doing (work/good grades/etc) and is polite/respectful/etc, then I'm not going to try to monday-morning-quarterback his parents.
To some folks, an E36 is fine. To others, a new Civic is fine. To still others, a 335i is fine. And to still others, a 911 Turbo is fine. It's all relative to their financial situation and personal viewpoint on how much to help out their kids with a car. Some parents will not help at all....it's all on the kid. Others will match saved money. Others will buy a new car for the kid....some cheap, some expensive.
A 335i is a great car, and very expensive when new. However, a used one can be cheaper than a new Honda Civic.
Hell, there's a good lesson to be learned here: If you hold on to a car longer (in this case, kept within the family), you mitigate the effect of depreciation over time. As a corollary to that: You can get a lot more car, and have it depreciate less over time, if you buy used.
My wife and I personally plan on providing our kids with our current daily drivers when they hit driving age, so long as they are doing the right things and acting the right way. The cars will be 10-12 years old by that time (F-150 and VW Passat wagon), but I will have maintained them and know that they are safe, solid, reliable vehicles. The kids will have to pay for insurance, gas, and maintenance. Failure to act appropriately or check the above boxes, and the car gets revoked. But that is what OUR plan is.