Don't misunderstand me, I am not giving him the car, between my wife and I we own four cars.
Ridgeline my primary
Solara convertible Wife's primary
Monte Carlo winter car for wife and saved for son to drive [maybe]
Firebird - Toy

I have told him I will never buy him a car, I think parents that do that are setting their children up to fail, or be dependents for life. I don't want that, he will have to make his own way in life when he leaves the nest, I don't want hime thinking the Bank of Dad will always be there.

What I am doing is allowing him to drive my car while he is in school as long as he follows my rules part of which include maintaining a certian GPA. I own the car at all times and can revoke driving privledges at anytime. I will pay insurance, he will pay gas.

He is a good kid, not given us any real trouble in the first 15.5 years, and we hope to keep that going, but we remain attentive, just in case anything starts going down hill we will react quickly.

 

Definitely let him drive it, for all the same reasons everyone else listed. PLUS My first car was a little chevy cavalier z24 and I think I would have gotten in so much more trouble with that thing if I had kept it and hadnt bought my first Monte (black 2005 ls). The thing is, I got in some situations where I needed a big heavy car, like the MC, if you gave him a little toyota corolla thats lighter than a feather, who knows what kind of situation he could get in with ice, rain, etc. I know it saved me from sliding into an intersection a time or two

 

My parents gave me my first truck... so I definitely don't think that's setting someone up to fail and I think my recent history in school, work and vehicles shows that.

I think your best bet is to let him drive it and make sure he knows that it's still your car and it will be taken care of or he will not drive it. This includes maintenance, cleaning (wash, polish, wax) and filling it up with gas.

I had my truck that was given to me and the thing was waxed bi-monthly, filled it up on my own (all 35 gallons of gas even when it was $4 a gallon).

If he can't take care of it then it's his problem, you take the car back and tell him to make it on his own.

But back to the beginning, pointing kids in the right direction by 'giving' them something is definitely not setting them up for failure. Like I said, it's pointing them in the right direction and in this case, showing them the nice things in life that can be earned when worked for.

 

My parents were the same way, however they did help me out a bit. With me they gave me $2000 for my first car to help me get started and as a graduation present. However I had to pay them back half once I got a job and started making money which I did. I then later sold my car and my dad co signed for me so I could upgrade to something more reliable and that is just better in general. But that was the only way I could start building up credit. Right now I'm on my second car which is my 2006 Monte Carlo SS which is what my dad helped co sign for me. But the down payment on the car was all my money. You could do something similar to that with him and your Monte and say that if he likes the car and wants to keep it then he has to pay for it and just let him buy it off of you and make "payments" on the car. With me I payed my parents $100 every 2 weeks till I payed them $1000. Anyway, you could do something like that.

 

Hello Jeff... I have 3 children of my own... All I bought them THIER FIRST car, had them pay 50% of the insurance, and they pay for all gas, and depending on the breakdowns, I help them all out here and there. I want them to learn responsibility so don't get me wrong. I feel the same as you on many of the issues but giving them the first car isn't setting them up for failure, just giving them a boost or head start on life. So far it's all worked out. My kids are now 29, 25, and my youngest just turned 16( my only girl) they have all respected what I set them up for , maintain acne, and gas has been excellent to say the least. They all check the fluids and tires at least 2 times a month. Regular oil changes and tire rotations as well... They ALWAYS have clean cars, (thought them that first). TAKE CARE of what you have now, and you will respect what you eventually work for. My middle son has now had 3 vehicles and still owns 2 of them. They all have jobs.
If I was you, I would buy the car next door to you (keeping the Monte for your wife and your son in the future, once he realizes it's a bit better then the Toyota next door to you. , have him pay for 50% insurance, and ALL gas. Depending on the breakdowns, well that's up to you. (All of it is, but this is just my opinion) as stated before, you know your son better then all of us, so I'm sure you know what's best for him, he may not think so now, but he will. I have the attitude that the child's first car may have some dents scratches etc on it, because they are going to do it anyway, might as well give them a car that's "Pre scratched" ...lol...your son Will want the Monte in the NEAR future, but let him learn on a lesser vehicle. Have him "Earn" the right to drive your beloved Monte.

Good luck Buddy.. Let us know what you end up doing...