My parents sat me down and explained the house rules for owning my own vehicle: No car before my senior year, and I’d have to pay for all car-related purchases myself. Mostly importantly, my grades had to be maintained. Any drop in grades would result in my car being parked until I improved.
I faithfully deposited the paychecks I earned between the ages of 12 and 16. In my senior year, I was finally ready. My parents acknowledged my efforts and even offered to lend me some additional money so I could buy a newer, safer car. We agreed I would repay them monthly with interest. After years of hard work, savings and with a little help from mom and dad, I bought a 1965 Mustang Fastback!
I made payments to my parents until July ‘66. On July 4th, stupidly, I used my car payment money to buy a new set of rims that I just had to have. I’d been good about paying my parents on time and thought being late once would be okay. My payment was due on the 5th of each month. Around 12:05 AM on July 6th, my mom came in my room and asked me if I had my car payment. Before I could explain why I didn’t, she took the car keys and told me I’d get my car back once I paid her for that month.
Over the years and up to her passing, my mom was lovingly referred to as "Repo Mom" by old neighborhood friends. My parents taught me so much through that experience. Getting behind on that one payment was hard to catch up on. It made me think twice about buying anything I couldn’t afford.
Dennis
My Mom Repossessed My Car!
How did your parents teach you about personal responsibility and accountability? Share your stories with me by emailing drlaura@drlaura.com!
