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7. Consider a compromise: Is a used car an option?
If a new car isn’t financially feasible, consider a used car as a compromise. Used cars can be significantly cheaper, often costing between $5,000 and $15,000, depending on the make, model, and condition.
Involving your son in the search for and selection of a suitable vehicle helps him become more involved in the decision and understand the financial implications. This compromise can also be an opportunity to teach him about budgeting and financial responsibility.
8. Seek professional advice: Family counseling
