My teenage son is buying his first car. What advice can you give a teen buying a new car? What challenges or obstacles do they face?

There are three main challenges for teens when they buy a car:

First, teenagers can be a salesman's delight because they are first-time buyers - which means they are inexperienced at negotiating - which means they usually end up paying more for their new vehicle than most buyers.

Best Advice: Take the time to do your research. If possible, get an experienced buyer to help you. And be sure to get a free price quote. That will give you a figure by which to judge other offers you may receive - and it may end up saving you the negotiating hassles altogether.

Second, financing can sometimes be a problem for teens since they usually have no or little credit history. Fortunately, many manufacturers offer "first-time buyers" and "recent grads" financing programs. Ask about these when you visit the dealerships.

Third, teenagers are often socked with high insurance rates, particularily on sporty cars. So be sure to check out the insurance rates for the car you want to buy before you buy it.

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