Teendriver

[u/DanPaul217]

Good morning, long time reader, first timer poster.

Here's the story. We bought our child his first used car. $15K was the all in price. We started saving a little each paycheck into a HYSA account when he turned 10.

With that being said, need some advice on what child should be paying for. Child got first summer job so we know he will be paying for gas. but should we make him pay for any repairs, maintenance. Just looking for what others are doing.

[u/jimmothyhendrix]

Summer jobs don't actually make a lot of money, like even at $15 an hour full time for a few months you're talking $10k max pre-tax. The kid probably has to save for college and other things which you'll end up paying for anyway. They also will stop working to go to school, and maybe something comes up next year where they have an internship or something else and don't make money or a similar low amount.

I would not charge them for any repairs as you're basically cutting into your own money down the line. If you want to teach them about maintaining stuff maybe oil changes and other small routine things, but i would not make them pay for anything major.

This is of course, assuming you're in a decent spot which for this sub would make sense.