My parents had a very pragmatic approach to all things financial...and a car for the kids is just that. When I was about to go off to college my parents offered me the same deal they had my sister even though 4 years had passed: We will match you dollar-for-dollar on any thing you want to buy up to $2000.

There were a couple of caveats, though. Their portion would cover no part of the insurance (but they would let us remain on their policy if we paid our portion) or tag/title/tax. Their portion WOULD apply to repairs in the first 12 months (again, on a matching basis). These are the parents that bought an '83 S10 and an '86 Aerostar new...both terrible cars.

When I bought a very nice condition, but in need of a few repairs, 1981 Corolla wagon with 125K miles for $1500 ($750 their, $750 mine) they thought I was nuts. In their minds cars died 1 mile over 100K or became money pits. I proceeded to replace the leaf springs and do a full tune-up including all fluids for about $400. This was 1990. The starter was also replaced professionally for $180 early in 1991.

In late 1991 I sold the car to my sister whose 1984 Escort had exploded into its base components at 85K miles. I decide to go motorcycle-only while she drove that car until 1998 and 210K miles. The Aerostar blew its fifth transmission at 90K miles and the S10 holed a piston at 88K miles and the fourth clutch was on its last legs. Both died long before the little wagon was traded in...still running great.

My next car was a 1976 Volvo 244 that was given to me in 1996. That started the obsession that lives on today. It was a terrible car as it had spent about 5 years sitting in field having the wiring chewed on by all kinds of critters but it taught me so much about the model and introduced me to the Brickboard.