My wife and I have no children but we do have a favorite niece and nephew. When my niece turned 16 we offered to give her my '80 280ZX. But we had attached a few strings to the gift---one she had to keep and maintain her grade average, two no moving violations ever, three she had to maintain the car as I had done since it was new. Her mom and dad offered to pay half her insurance costs but she had to pay for the other half and for gas and maintenance. She found a job and worked through high school and college

Well suffice it to say, she earned an academic and athletic scholarship, never had a ticket other than parking, and she learned how to maintain the car, even doing her own oil/filter changes and rotating tires, after her father showed her how(we weren't living in CO then and we drove the car out here from WA for her).
She's 26 now, established in her career and just got married. About four months ago she called and asked if we'd be upset if she sold the car, No, of course not(I should've bought it back from her, Other than normal wear and tear it still looked/ran great for a 27 year old car with over 160 k miles )She traded it in on a new Audi A-6. She learned and respected the gift we gave her.