An Animal Spirits listener emailed in to ask:
Nice query.
Michael and I each responded on the podcast in the identical approach — you do NOT purchase a 16-year-old the brand new car!
When your child turns 16 they get the hand-me-down and also you drive the brand new one. That’s the way it’s all the time been and the way it all the time must be. After I was in highschool we possibly had one or two (wealthy) pals get a brand new automotive however everybody else drove a beater.
I did. Mine was a 1989 Honda Accord. It was a stick shift with nicely over 100,000 miles and bald tires. It was a automotive pushed by a pal’s older brother who bought it to my older brother and at last it was handed all the way down to me.
So my preliminary response was rooted in expertise.
A listener took the opposite facet of this argument:
You all the time purchase the brand new driver the brand new automotive. New vehicles have security seizures which might be essential to youthful drivers. When younger drivers don’t have the expertise of an older driver, they want all of the breaking, line spot, lane help, all these security options the brand new vehicles include. You need your youngster to have the million airbags, not simply the one which popped out the steering wheel, would you like them to have antilock brakes. The traction management system. All these issues. Though it’s counterintuitive all the time give your child the newer car. For a security perspective.
My first thought after studying this e mail was, nicely, duh. It appears so apparent whenever you put it this fashion.
New automobiles have a lot better security options. In fact you need your youngster to drive the most recent, most secure car. What sort of guardian am I?!
This line of pondering additionally explains how luxuries turn into requirements and why so many households get behind on their funds. What guardian doesn’t need to give their youngsters the perfect life? So that you spend a lot cash on them that you just fall behind.
I can definitely see either side on this one.
My 1989 Honda Accord had a tape deck, no anti-lock brakes, no sensors, no cameras, and no transmission by the point it lastly ran its course and ended up in Honda heaven.
I grew up in Northern Michigan the place we had brutal winters with a lot of snow. The roads had been usually tough to traverse.1 With a crappy automotive, I discovered to drive conservatively within the components, which was one thing of a blessing in disguise.
I’ve pushed by way of a number of snow storms the place an enormous truck will fly by going 20-30 mph sooner than me. Often, those self same vehicles finish in a ditch just a few miles down the highway.
This isn’t simply an anecdotal commentary. There’s proof that added security options improve driver confidence, inflicting them to behave extra recklessly.
With out anti-lock brakes on my first automotive I shortly discovered about the necessity to pump my brakes when the roads had been icy.2 When anti-lock brakes had been launched broadly the outcomes had been attention-grabbing.
Research discovered that the arrival of anti-lock brakes did assist curb fender benders. Deadly and non-fatal crashes, particularly on moist surfaces noticed drastic reductions. However single-car accidents, rollevers and vehicles going off the facet of the highway all went up dramatically.
The added security options provide some assurance however till we get full self-driving automobiles in all places I’m undecided how a lot it’s going to assist on the subject of 16-year-olds and their driving abilities.
Look, I’m not saying you need to make a monetary resolution that can negatively influence your youngster’s security. All monetary choices are private however this one is extra so than most.
My coronary heart says getting your 16-year-old a brand new car is spoiling them whereas my head says you need to defend your youngster in any respect prices.
So what’s going to I do when my oldest daughter turns 16 in *gulp* five-and-a-half years? I’m positive I’ll go back-and-forth on this one many occasions main as much as this resolution. Possibly self-driving expertise will make the choice simpler but when it doesn’t…
My guess is I’ll most likely let her drive my SUV to deal with the Michigan winters so I can lastly get again to driving my dream automotive…a Honda Accord.
Possibly a more moderen mannequin this time.
Michael and I mentioned this subject on Animal Spirits this week:
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1I grew up in a home on a steep hill. There have been occasions I couldn’t even make it up the hill within the previous Accord and can be compelled to show round midway and go downhill.
2The rationale I discovered shortly is as a result of the primary snowstorm I ever drove in at age 16, I slammed on the brakes and slid straight right into a ditch. Fortunately, I used to be near house as a result of these had been the pre-cell telephone days, so I had no technique to contact my dad and mom.