When you send your child off to college, you might decide that his newly independent lifestyle warrants a personal set of wheels. Or perhaps you’re looking for a fun and functional high-school graduation gift that he’s sure to get a lot of use out of. In truth, this might end up being a major boon when it comes to travel if your student is attending a college that’s not too far from home since it could allow him to make frequent visits, say on the weekends or holidays, without the added cost of airfare. But whether you’re hoping to see more of your student after he heads off to college or you simply want to provide him with transportation during his time on campus, there are a few things you’ll need to consider before you plop down the dough on a brand new Escalade.

For starters you need to think about your price point. Since you may be helping to foot the bill for college already, the added expense of a brand new vehicle might be more than your current budget can bear. And don’t forget that inexperienced drivers are far more likely to get in accidents (hence higher insurance rates), so purchasing a pricy new vehicle may not be in anyone’s best interest. Although you certainly want your teen to leave for school with a reliable mode of transportation, there are plenty of options that don’t require you to overspend.

For example, you might consider purchasing a certified pre-owned vehicle. Most are only a year or two old, the dealer has put them through a rigorous inspection and repair process to ensure that they’re in ship shape, and many come with a full (or at least partial) warranty. Plus, you’ll enjoy the greatly discounted price. Although it’s bound to be a little more than the average used car, it’s still a lot less than brand new and you’ll get several benefits in addition to a relatively new vehicle.

Another thing to think about is how the car will fit with your teen’s lifestyle. For example, parking on campus is often at a premium, so having a tiny car that can fit in any spot (like a Smart, Fiat, Mini Cooper, or other subcompact) could be ideal. In addition, smaller, lighter vehicles tend to be more fuel efficient, which is good news for the average, broke college kid. Plus, a small car will limit the amount of friends your teen can cart around, hopefully reducing the risk for distractions that lead to accidents. As a general rule, small cars tend to be the best choices for college students.

However, there is one last thing you’ll want to consider before you go through with purchasing a car for your college-bound kid: does he really need it? If your student is living and working on campus, there’s really no need for him to have a car. In fact, he might be better off with a bicycle, especially if you’re not willing to support ongoing costs. Even if he can get discounted car insurance for college students, he might not make enough money to cover that plus registration, maintenance, parking, and gas. There’s no doubt that cars require money that many students don’t have to spare. As for those who live and work off campus, a bike and a bus pass could be just as useful at far less cost. So before you buy a car, keep in mind that it could end up being more of a liability than an asset to your student.