Parents buy daughter a new car but only on the condition that she pay $50/month, sparking debate

Shayne & Michelle, who go by @thehowryfamily on Instagram, gifted their daughter her first-ever car, but only after she agreed to sign a contract to pay a monthly amount. Yes, that's right! The couple prepared a special contract for their child, asking her to pay $50 monthly once she starts working, and only after graduation will she get back all the money she has paid. Shyane and Michelle shared the video on Instagram, and as of now, it has reached over 11 million views online.

"We just bought our daughter her first car. She doesn't know yet, but we're on the way to go and bring it to her," Shayne said. The couple was confident that their daughter would love the car they had bought for her, but they wanted to capture her reaction to their gift and, of course, the contract she perhaps had no idea about. "Oh, my goodness! Is that a car?" their daughter asked, and once the parents confirmed, she rushed towards it like she had been waiting for that moment for a long time. Shayne gave his daughter some time to properly check her new car and then informed her about the contract she now had to sign. "When you get a job, you make monthly payments. Here's what happens: we put it in a secure account, and when you graduate, upon completion of your graduation, you get money returned to you," he explained. Next, he asked what his daughter thinks would be an ideal amount for her to put in every month, and once she shared her opinion, Shayne went on to read the clause of the contract.

According to the contract, the daughter has to start paying only after she gets a job. Besides the fixed amount, she would have to pay an extra $50 as a "parental fine" if she gets a speeding ticket. Additionally, she would have to surrender her vehicle for one day for every mile over the speed limit. Their daughter signed the contract, and the parents called it a "parenting win." The video went viral, and while the majority supported the couple, some said it was unfair for the child. To clarify their decision, Shayne posted another video, talking about why they insisted on their daughter making monthly payments. He said it was their way of making their kids learn the value of money — something they wish they'd known earlier.

To make kids aware of financial responsibilities, it's important that parents talk about it with them. In fact, making them take small monetary duties will only help them learn more about savings and the outcomes of unnecessary spending. Some parents even ask their children to pay rent to make them better understand the value of money. A 2023 poll by Redfield & Wilton Strategies for Newsweek found that 57% of Americans support parents charging their adult kids rent. This just goes on to reveal that parents are raising kids who tend to be independent from a young age. Meanwhile, reacting to the video, a person, @mike.kapperman,​ shared, "When my kid turned 18, I charged her $500 a month for rent and said nothing to her. She wasn’t happy, but when she moved out at 25, I gave her back $​42,000 for a down payment on her own home. That was every cent she had given me for rent."

Similarly, a user, @realyomifabiyi, wrote, "It is the bonding memory, humor, and friendliness in the family for me first. The car purchase and contract follow. Bless the family. Beautiful contract!" Another user, @jazmynpolk33, commented, "That’s what my dad is doing for me. I didn’t get my car until the end of my freshman year of college, and I graduated in December. I love how he’s taught me not only the importance of paying bills but also the value of paying myself back with every paycheck. You’re great parents."

You can follow Shayne & Michelle (@thehowryfamily) on Instagram for more parenting content.