Kid Behind the Wheel: Buying a Car for Your Teen

    MINNEAPOLIS & ST. PAUL, Minn.--July 3, 2002--It's summertime...The kids are out of school, frantically looking for activities to occupy their plentiful free time. But getting to these summer activities would be so much easier if they only had a set of wheels. If you have a teen with a driver's license, you know it's only a matter of time before your teenager hits you up for the keys to your car or wants you to buy him one of his own. If this sounds familiar, you're not alone. Still, taking the plunge and purchasing a car for an adolescent can be a tough decision to make.
    This week, Right on the Money! - a 30-minute nationally-syndicated personal finance program airing on Twin Cities Public Television (TPT) on Saturdays at 6:30pm- tells you what to consider when pondering a car purchase for your teenager. Should you buy it? Should he buy it? Should you share the cost? Who pays for insurance? Is it cheaper for the teen to be included on your insurance? How much should be spent on a teen car? Right on the Money! answers these questions and more as host Chris Farrell shows viewers how to sort through the choices.
    Whether you need a financial toolkit or a financial first aid kit, Right on the Money! provides no-nonsense solutions. The series, hosted by award-winning journalist and financial expert Chris Farrell helps viewers become more financially literate by focusing on real life examples of people learning to make smarter money choices. Season Four covers everything from surviving a layoff to updating the home you love. "The show is about learning how to become more financially literate by organizing your money in ways that bring you closer to the kind of life you want to lead," Farrell says.
    The program is distributed by American Public Television and produced by Twin Cities Public Television (TPT) with major funding provided by Allianz Life Insurance Company of North America.
    In addition to hosting Right on the Money!, Farrell also co-hosts a weekly one-hour radio call-in show on personal finance. The program is syndicated to more than 170 public radio markets nationwide. He is a contributor to PBS's Nightly Business Report. Farrell is also contributing economics editor at Business Week Magazine.
    Right on the Money! also has a home on the worldwide web at www.rightonthemoney.org.