The past couple years my wife and I have bought three used cars for our three kids to get them through college. The deal is if they want the vehicles after they graduate (and they're still in good condition), they can buy them from us through a loan from NFCU. Fair market value, not to exceed what we paid for them. They get a dependable vehicle out if it, a loan to help them on their way with their own credit, and not anything that will crush them financially.
All three are in excellent shape and didn't break our bank buying.
2007 Ford Edge ($4,500)
2000 Lexus RX 300 ($1,706)
2003 ford Focus Wagon ($1,000)
Afterwards, they can run them into the ground while saving their own money for something different, sell or trade them for something else, whatever...the cars will be theirs to do with as they wish.
All three are in excellent shape and didn't break our bank buying.
2007 Ford Edge ($4,500)
2000 Lexus RX 300 ($1,706)
2003 ford Focus Wagon ($1,000)
Afterwards, they can run them into the ground while saving their own money for something different, sell or trade them for something else, whatever...the cars will be theirs to do with as they wish.