Feb 8, 2023
Purchasing a car for a teenager can be a major financial decision for families, especially in the current economic climate. Families should consider purchasing a used car for their teen’s first vehicle. New cars tend to cost more in repairs and insurance and used car prices have fallen by 10% on average. Popular choices for teenagers are compact SUVs or crossovers, as they are safe, reliable, and practical.
Our Chief Operating Officer, Scott Kunes, sees the car purchase as an investment not only in the car but also insurance and maintenance. The cost of car insurance for new drivers is higher than the average car payment, making it a significant investment.