The picture of American youth has evolved a great deal in the last 25 years. The millennial generation might not be as enamored with the automobile as their parents were, but a driver’s license remains one of the first rites of passage many American teens will encounter.
But getting a license and getting a car are not the same thing. For parents who scraped and suffered to purchase a first car, the decision becomes whether to help their new driver buy a ride, or let them pony up the dough themselves. With the average price of a used car more than double what it was just 10 years ago, teens are getting more help from the Bank of Mom & Dad than ever before. This graphic from CJ Pony Parts illustrates the differences.