Are you a mother or father with a teenager? Then it might be time to have that “talk” with your teen. We mean the “first car” talk, of course.

Although every parent worries about their teenager driving, it might be very useful for your teenager to have their own car. First, they’ll be able to drive themselves to work, to social events, and to school. Second, it’ll teach them how to care for a valuable asset, which is an important life skill.

Here are 7 tips for buying your teenager a car so that you and your teen make the most out of the investment.

1. Give Your Teen a Fix-Me-Up

Here’s an old-fashioned trick that some parents swear by: give your teen a vehicle that they must repair before they hit the road. Yes, your teen is probably going to hate you for doing such a thing. But almost every person who has had to fix up their own vehicle agrees that it teaches teenagers to respect their car and drive more safely (safe and careful driving, after all, causes less wear and tear on the vehicle).

You might have to spend a little money to buy car parts for your teen’s project, but it should still be cheaper than buying a brand new vehicle. And thanks to the internet, it’s easier than ever to learn how to build a car because there are so many tutorials online.

2. Buy a Used Vehicle

Buying a car for your teen doesn’t have to throw you into a financial crisis. Buy a used car for your teenager instead of buying a brand new one. There are plenty of used vehicles on the market that are in great shape and which don’t have too many miles on them. And why buy your teen a brand new car when they’re likely going to get it all dented and scraped? Better let your teen drive a used vehicle until they’re old enough to shoulder their own insurance and auto loan payments.

And the great thing about buying a used car is that you might be able to afford a used luxury vehicle (your teen would really love you for that). If you live in Illinois, for instance, you could look up “Mercedes-Benz of Naperville used vehicles” and see if there are any used Mercedes in your area. You could get a great-quality vehicle for a cheap price, while also helping your teen look cool in school.

No matter what car brand you’re going to buy, always make sure you view car reviews online and make sure you’re not buying a car that’s gotten negative feedback from drivers or that’s been the subject of recalls.

3. Get Pre-Approved for an Auto Loan

Always get pre-approved for an auto loan before you start searching for a vehicle to buy. After you’ve gotten pre-approved, you’ll have a better idea of what you’ll be able to afford. Although dealer financing is incredibly convenient, you can get much better terms and rates when you get an auto loan from a banking institution or credit union.

4. Test Drive

Accompany your teen to give the vehicle a test drive before you buy it. You want to make sure that your teen feels comfortable driving the car, and if you’re buying a used car you want to be present to spout out any defects that your teen might miss.

5. Try out Different Models

Car buying can be a tedious process and most people want to get it over with as quickly as possible. But don’t get hooked on the first car you test drive, and make sure your teen doesn’t either. Try out different types of cars so you can know for sure you’ve found the right one for your teenager.

6. Always Get it Checked

If you’re going to purchase a used vehicle, be sure you get a vehicle history report online to check whether or not the car’s been in any serious accidents that might have damaged the frame or other components. And always take a used vehicle to a mechanic to get it inspected before you sign any paperwork.

7. Be Sure Your Teen is Ready

Last but not least, make sure your teen is truly ready for the responsibility of having a car. It’s not enough to teach your teen how to drive. Also, make sure they know how to do basic maintenance on the car (like checking the oil and putting air in the tires) and that they’re mature enough to practice safe driving.

7 Tips for Buying Your Teenager a Used Car