An Animal Spirits listener emailed in to ask:
Nice query.
Michael and I each responded on the podcast in the identical manner — you do NOT purchase a 16-year-old the brand new automobile!
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 at all times been and the way it at all times ought to be. After I was in highschool we possibly had one or two (wealthy) associates get a brand new automobile 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 automobile pushed by a pal’s older brother who offered 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 at all times purchase the brand new driver the brand new automobile. New vehicles have security seizures which can 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 baby 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 at all times give your child the newer automobile. For a security perspective.
My first thought after studying this e-mail was, nicely, duh. It appears so apparent while you put it this fashion.
New automobiles have a lot better security options. In fact you need your baby to drive the most recent, most secure automobile. What sort of mum or dad am I?!
This line of pondering additionally explains how luxuries develop into requirements and why so many households get behind on their funds. What mum or dad doesn’t wish to give their youngsters the perfect life? So that you spend a lot cash on them that you simply fall behind.
I can definitely see each 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 numerous snow. The roads had been usually tough to traverse.1 With a crappy automobile, I discovered to drive conservatively within the parts, which was one thing of a blessing in disguise.
I’ve pushed by means of a number of snow storms the place an enormous truck will fly by going 20-30 mph quicker than me. Often, those self same vans finish in a ditch just a few miles down the street.
This isn’t simply an anecdotal remark. There’s proof that added security options improve driver confidence, inflicting them to behave extra recklessly.
With out anti-lock brakes on my first automobile I rapidly discovered about the necessity to pump my brakes when the roads had been icy.2 When anti-lock brakes had been launched extensively the outcomes had been fascinating.
Research discovered that the appearance 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 street all went up dramatically.
The added security options supply some assurance however till we get full self-driving automobiles all over the place I’m undecided how a lot it’s going to assist relating to 16-year-olds and their driving expertise.
Look, I’m not saying you must make a monetary resolution that may negatively influence your baby’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 automobile is spoiling them whereas my head says you wish to defend your baby in any respect prices.
So what is going to I do when my oldest daughter turns 16 in *gulp* five-and-a-half years? I’m certain 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 automobile…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 explanation I discovered rapidly is as a result of the primary snowstorm I ever drove in at age 16, I slammed on the brakes and slid immediately right into a ditch. Fortunately, I used to be near dwelling as a result of these had been the pre-cell telephone days, so I had no strategy to contact my dad and mom.
