I started a thread or two on this a while back, but most of the people who posted were looking at it from the parents' point of view. IMO, it's not a great idea for parents to buy kids really special cars because it denies the kids the pleasure of the hunt -- that is, earning it themselves. But I wouldn't call it wrong to do it.

Also, I've never thought or suggested that it's wrong to accept such a gift. You'll experience the joy of the hunt in other ways -- in love, in your career, etc. Cars are just one thing.

Jay Li -- you're a hell of a great kid, and you've got a wonderful moral compass. When the tough choices come along, I predict you won't have any problem doing the right thing.

 

Good for you Jay. My personal story, when I was 16 my parents bought me a brand new '90 4Runner. After that they bought me a Ferrari 328. My parents were worth millions. Long story in the middle, we lost everything. Woke up and the 328 was gone. repossesed. My parents subsquently had many helath problems and were unable to work. coupled with the government taking all our savings. With the 25k I had saved since working from the age of 12 I bought a house, got lots of jobs and now support my Parents. All before the age of 27. I have never forgotten what my parents have taught me. They are the reason I am as succesful as I am. I budget myself properly and leave room for the toys, but I never take anything for granted. Consider yourself lucky and remember that a car is just that. Family is forever.
Mike

 

Thanks guys...I appreciate all the advice and support!

 

I think i might have some experiences that can help you out.

Untill the stook, all my 4 previous cars were paid for by my parents. The s2k is the first car that i am paying for.

My previous car was a a brand new leased 1998 Prelude SH and was and paid for by my parents, i even got 5000 of accessories like custom leather installed in the car, again paid for by my parents. The car ran 661 CDN lease + 250 CDN insurance a month, needless to say, a lot of money. Sure i did not deserve it, sure i had friends working day and night and driving cars that were worth 3 payments. But if your parents want to do this for you it is great and you should accept it and be happy, they certainly don't owe it to you, but it makes them happy to see you happy and happiness is what life is all about.

I believe i have been a good son to my parents, i have never gotten in any trouble, i always did well in school (back in the school days ) i got a good degree and have a good job ..... I never dis-respected them and i never did anything they considered "bad" .

The most important thing i can tell you is, appreciate it, you seem to already do this, but all you can do is show them how much you appreciate it. You can do this through respect, doing damn well in school and just generaly making them proud of their son.

They buy you this car to make things easier for you, they want you to be happy and concentrate on the important things, which in your case is your schooling, so excell in this area and re-pay them through hard work and dedication.

Another piece of advice i want to give you is, don't divulge this information to everybody. There are a lot of jealous and "bad" people out there that are out there to belittle you or even in some cases hurt you. Sure we can have a friendly chat about it over the net but keep this to yourself in school and surroundings. I know this is extreme but, some people will never understand and will even try to hurt you or the car phisically. So be carefull. Keep people on a need to know basis, tell them that you have saved money from the time you were young and that your parents "help" you out. Never say they fully paid for it to strangers or casual aquaintences, the least that will happen is that you will be judged the wrong way, no matter what kind of person you are, and you don't want that.

So basically, make them proud, be carefull what you say, and after 600 miles rev it to 9000 rpm and enjoy.

 

[QUOTE]Originally posted by Jay Li:
[B]My S should be arriving any day now, back in St. Louis.

 

From whom and how you got it may be important, but don't forget to simply enjoy this great machine! Be a crazy teen (your perfect driving record concerns me!hmmmmmm.....) and get out and enjoy the car! Break her in and then get out there and break the law! And, better yet, join a local SCCA club and AutoX!

 

[QUOTE]Originally posted by S2001Yellow:
[B]Well son, let me tell you, I'll be 75 in twelve days and damn it, I'm going to pick up my '01 spa yellow S2K right after my birthday.

 

yay! i'm not surrounded by old farts
comforting to know there are more of us 'kids' around here!

 

Jay,

I have two sons, one 22 and the other 17, Although my wife and I are reasonably affluent, we work real hard not to indugle our sons. We insisted that they drive used cars while they were in college, but we paid for them. But we bought our older son a Jeep Wrangler when he graduated from college and will buy our younger son a new car when he finishes as well. Why?

These are two fine young men, with terrific values. They're great students and work very hard in school. The older guy's going to medical school and we're sure the younger will do some kind of graduate or professsional education when he finishes college. They really can't afford to own a car at all on their meagre summer employment income. So as a reward for the great kids they've been, we buy them new cars.

The fear that every parent has is turning their children into selfish, spoiled brats who become totally dependent on the parents' money or indulgence. I've seen enough examples of those kinds of kids to know how serious a problem it is.

A few months ago, I spent a few hours with Jim Rogers, the TV station magnate out West who gave $100 million to the University of Arizona Law School last year. He's a great guy. During the course of the conversation he said that if you're wealthy, giving your kids your fortune is like giving them cancer.

So it's always a question of balance, of what's in the best interests of your child. I'm sure your parents have given this a lot of thought, and by virtue of the fact that you even raised this question, it appears that your values are in order. So accept the car with humility and take very good care of it, but don't feel guilty.

And remember, you'll face the same question yourself when you're a parent someday.

 

Jay my friend, don't feel guilty. I agree, the fact that you're even feeling bad about taking such a gift shows that your heart's in a good spot. I don't think you're cocky or ignorant about this, so if you're fortunate enough... just be happy.

(Like that'll be tough. )

My father has quite a bit of money, too.
He went to hotel admin. school at Cornell in the '60s, worked as a manager for Holiday Inn at serveral locations... bought a hotel in Salem, NH in 1978 and sold it in 1988. With that money he was able to live very, very well. Not to mention that he's invested it.
You'd never know from looking at him (he's an offshore sailor--a serious one, not some guppie who thinks he can navigate a boat), with the ratty T-shirts, but the man's quite loaded.

He paid for college for me, and he'll do the same for my brother. I always bought my own cars and insurance and everything else, though. He flat-out refused to buy me anything like that, and I'll probably do the same with my kids. Unless I'm filthy-stinkin' rich, in which case I probably won't be as stingy. I won't buy them new cars, but I'll certainly help with used ones.