1. Buying a car can be overwhelming for anyone, no matter how old (or young) you are. So help your teenager throughout the process: plan, investigate, negotiate and even test-drive together.
2. Encourage your teen to do lots of research even before heading to the dealership. The Internet is a great place to start.
3. Make a budget that includes not just the cost of purchasing the car, but also the costs to own and maintain it. Financial obligations only begin when the purchase is made.

The information provided here is for general informational purposes only and should not be considered an individualized recommendation or personalized investment advice. The type of savings and investment strategies mentioned may not be suitable for everyone. Each investor needs to review a security transaction or strategy for his or her own particular situation. The examples mentioned are for informational purposes only and are not intended to represent results you should expect in the future. Data contained herein is obtained from what are considered reliable sources. However, its accuracy, completeness or reliability cannot be guaranteed.