How to Buy a Grandchild a Car as a Gift

Handing over the keys

Receiving a car as a gift is sure to thrill almost anyone. Giving your grandchild a car has the potential to be very useful as well as memorable. Since this is such a large gift, you definitely should invest some research and careful thought into the process before you actually make a purchase and present your gift.

Instructions

1. Consult with your grandchild's parents first if your grandchild is under-age and still lives at home. You need to be sure that they approve of this gift.

2. Research car reviews to find out important facts about safety and performance of various cars.

3. Consider how your grandchild will be able to pay for car insurance and taxes, gas and maintenance. You don't want to buy a vehicle that she can't afford to maintain.

4. Consider whether you want to buy a used or a new car. While new cars may be slightly more attractive, they lose value quickly. You may want to look into purchasing a type of "program" car that has been used minimally, has low mileage and is almost new, but with up to 50 percent off what a new car would cost.

5. Present your gift in a way that is memorable and practical. You may want to car shop with your grandchild so that you can spend time together and collaborate on the decision. On the other hand, you might want to experience the delight of surprising your loved one, possibly by hiding the keys in a special location or parking the car in the driveway complete with a huge bow on top.

References

• Lease Guide: Cars for Teens

Resources

• Consumer Reports: Cars