Are you concerned with perception of getting your child a Lexus/BMW/MB?
08-16-18, 10:42 AM
#31
My parents bought me a used 2001 IS300 for my 16th birthday in 2006. They paid about the same for the IS300 as many of my friends parents had paid for a new Scion/Kia/Corolla, etc. Sure the Lexus was 5 years old, but it was just a safe/reliable (if not more so) than some of the new cars. Many fellow classmates got the standard first car (Jetta, Corolla, Civic, etc.), but many also got new 3 and 5-series, C-class, A4, Range Rover Sport and other models on that caliber. I had begged my parents for an IS350, so the IS300 was their version of a compromise. I was so happy to have a nice car and babied that IS300 until I sold it with over 150k miles to get the IS350 I had always wanted. I'm forever grateful to my parents for providing me with my first car!
08-16-18, 05:46 PM
#32
Lexus Fanatic
If someone has inside their means? I and wife grew up whose family was inside their means providing all their kids need. The kids grew up to be a good contributors to our society. Our kids grew up same way.
One is MD, one is consulting engineer. They finished school without any student loan, we supported them all the way like our parents did to us. I hope they'll do the same with their kids.
One is MD, one is consulting engineer. They finished school without any student loan, we supported them all the way like our parents did to us. I hope they'll do the same with their kids.
08-16-18, 06:12 PM
#33
Lexus Champion
BTW, what is a luxury life style? By any means we don't live in luxury life style. I am more accustomed to miserable life style being born at the beginning of WW II under Japanese rule. I grew up thru Korean war, served in ROKA field artillery near DMZ. Finished school went to Vietnam during the war there working for U.S. military. When the war was ending there I went to other conflicted places where U.S. military was involved, some places were unknown to general public. I worked for U.S. military worldwide communications command as an engineer. Experienced many different cultures, met all kinds of people. I learned lot more than what I learned in school. I am proud we raised only two kids, straight thinking, no frill smart kids.
Last edited by Htony; 08-16-18 at 06:43 PM.
08-16-18, 06:14 PM
#34
Lexus Fanatic
Driving luxury vehicles is definitely part of a luxury lifestyle.
08-16-18, 06:58 PM
#36
Lexus Champion
The whole concept of "buying your kid a car" is already blowing off my mind. I know nobody in Switzerland who has his car integrally paid by his parents. Partially yes. If they want a luxury car, they go to work and spare some good money. Or they buy a cheaper car if they can't afford. It would be a logic swiss thing to do.
08-16-18, 10:36 PM
#37
If you're trying to teach a 16 year old a lesson about appreciating the things they have by buying/not-buying them a car, then it's probably already too late. Buy your kid whatever they want, that you want to buy them. In no way does it teach them any lesson that you haven't already taught them. People always look back on the past with rose-tinted glasses, so of course we all *remember* appreciating whatever manner in which we got our first car. The memory and the experience are not the same thing, as decades of psychological research has shown: https://www.psychologicalscience.org...ss-is-relative
08-17-18, 03:14 AM
#38
I think the wisdom in this thread is phenomenal. We did a few things along the way that made this decision easier.
At around 4 years old, we began by sitting our kids down on a monthly basis, and using a pie chart, showed them how much money there was per month, how it was sliced up and what was disposable income. They got an allowance based on age and could earn above it via chores. They were expected to pay for anything beyond the basics (food, clothing, a place to stay). So, if my son wanted a Ninja Turtle toy, or one of the Power Rangers, then a bike, he had to save up for it. For my daughter, it was the same.
Fast forward and both kids learned valuable life lessons in economics. These life lessons made car buying easy--they paid for it, paid for their own insurance, gas, oil changes, tires, brakes...you name it. And they looked at safety 1st, reliability 2nd, and looks about 5th down the ladder.
And this affected other life decisions, such as self-discipline for school. 2 kids later and we have one on a full 4-year ride to Cornell for his PhD in chemistry with the prospect of a professorship once he graduates, the other one fully engaged in a career in PR and now looking for her MBA/JD.
At around 4 years old, we began by sitting our kids down on a monthly basis, and using a pie chart, showed them how much money there was per month, how it was sliced up and what was disposable income. They got an allowance based on age and could earn above it via chores. They were expected to pay for anything beyond the basics (food, clothing, a place to stay). So, if my son wanted a Ninja Turtle toy, or one of the Power Rangers, then a bike, he had to save up for it. For my daughter, it was the same.
Fast forward and both kids learned valuable life lessons in economics. These life lessons made car buying easy--they paid for it, paid for their own insurance, gas, oil changes, tires, brakes...you name it. And they looked at safety 1st, reliability 2nd, and looks about 5th down the ladder.
And this affected other life decisions, such as self-discipline for school. 2 kids later and we have one on a full 4-year ride to Cornell for his PhD in chemistry with the prospect of a professorship once he graduates, the other one fully engaged in a career in PR and now looking for her MBA/JD.
Last edited by ShrinkDoc; 08-17-18 at 03:17 AM.
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