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My kids aren't old enough for their own cars yet but here's what my parents did with me and I think it was a pretty good deal:
I worked parttime to pay for my own gas and most of my insurance. My parents picked up the rest and since the car was paid off they just gave it to me. Also if there were any "upgrades" I wanted I had to pay for it myself. I was a decent student but in no way compared to your daughter.
My hubby and I have already decided that when our oldest turns 16 we will buy him a car (older & cashola, of course) and what he will be responsible for depends on his grades and extracurricular activities. If he's on the same level as your daughter, I see no problem picking just about all her expenses. Perhaps give a weekly allowance for gas. If she has a way to earn money (i.e. babysitting) then perhaps start with just minor expenses, adding on more as she can afford it and still keep up her activities/grades. |
my 2 cents - jlo
