If you have a son or daughter that has just graduated (or is about to graduate) from high school or college, then you're probably on the market for a graduation gift. What are the hallmarks of a good gift? It should be something precious to mark the special occasion, something that your child will surely like, something that you can afford to give, and preferably something that is useful.
What fits the bill? A pre-owned luxury car. There are many reliable luxury car dealers in Ann Arbor that sell pre-owned vehicles, so getting one for your child won't be difficult. But you might first want to discuss it with your son or daughter to make sure that you are on the same page.
Make the first move
Most young adults cannot afford even a used car; and even if they had the money to buy a car, it might not be their top priority. The journey towards financial independence does not usually begin with a car purchase.
There are pros and cons to keeping your gift a secret from your child, but it might be best to come right out and tell him before you purchase the car. If this is something that you truly are considering for your child, sit him down for a talk.
It's better to be able put across the message that your intention is to be of financial help (given the conveniences of having a car) rather than to spoil your child, or make him feel indebted to you. Hear what he has to say: Is he moving to a place where public transportation is more efficient? Is he concerned that you might feel bad if he trades in the car two-three years down the road?
By talking, it will be clear to both sides what the gift entails financially and emotionally. Should your child accept the offer, tell him the costs associated with car maintenance and repair so he can decide if he's willing to spend a portion of his budget on that.
Picking the car
When shopping at luxury car dealers in Ann Arbor, let your child's independence begin by allowing him to pick the right make within your set budget. See online.wsj.com/public/article/SB115012284892977799-31r1yNZFEnJ8jTDYY1_sj9STL_A_20070613.html?mod=blogs for stories of kids who got cars as gifts.
Parent Talk: Buying Graduation Gifts from Luxury Car Dealers