I couldn't agree with you more there. That's why I won't be buying my children their first cars. The kind of car a 16 year old can afford, is exactly the kind of car a 16 year old should have. I bought my first car for exactly $800. Sure enough I crashed it (write-off) 6 months later. Boy was I glad I didn't take out a big loan and crash a Ford XR2 or something (was a hot car when I was 16.
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