Junior Achievement has a new website to quickly teach smart car tips.
Few conversations frustrate parents more than teenagers who talk about buying their own cars.
Parent: “This is a big financial commitment…”
Teen: “Nah, I found a really hot car that costs only $1,500!”
Parent: “But is it in good condition? Do you have enough money for insurance? For maintenance?”
Teen: “Those are just details! Don’t worry!”
Of course, parents have reasons to worry. A new poll by Junior Achievement, the world’s largest financial educator of young people, shows 45 percent of 16- and 17-year-old drivers “did not know that proof of income was required by auto lenders” – which makes you wonder what these teens were thinking. They expect to get a car loan without proving they can pay it back?
So Junior Achievement partnered with Honda Financial Services to create a simple yet quick way to educate these teen drivers. It’s called the Financial Test Drive.
The interactive test has only five questions, all based on the results of the aforementioned poll. It focuses on the gaps in those teen drivers’ knowledge.
“If parents can convince their teen drivers to spend two minutes on this test – and that’s literally all it takes – those teens might realize they need to consider more than the sticker price when buying a car,” says Consolidated Credit president Gary Herman. “Junior Achievement has always been creative about making financial education more of a game and less of a chore. This is just their latest triumph.”