NEW YORK (CNN/Money) - So, your child is college-bound but car-less. And in a fit of generosity, you're inclined to spring for a set of student wheels.

After wiping away a tear -- for the impending departure of teen-ager and money alike -- you're ready to deal. As with any back-to-school shopping, choosing a great collegiate car will require calm negotiating. A compromise between the rad ride every youngster wants and what you -- as the older, wiser parent -- know they need. (If that fails, remind your little frosh who's cutting the check.)

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We don't need to remind mom and dad that even a single year of college costs as much as a new car. So we urge most parents to first consider a used model. Even a 6- or 8-year-old vehicle shouldn't induce guilt or worry, as long as mileage is reasonable and it's been well-maintained. A fraction of the money you'll save can go toward replacing worn items like brakes and tires, ensuring trusty operation. (Do make sure any used model is equipped with anti-lock brakes, a critical safety factor for young and relatively inexperienced drivers.)

Whether it's a new or used car, also consider making this a helpful introduction to the real world of monthly payments. For a responsible young adult, the privilege of driving a nice car or truck might include covering the insurance, or an agreed-upon share of the monthly payments. Or at least gas and maintenance.

Finally, while we're not ignoring style and performance, practicality, economy, affordability and safety take precedence here. With those ground rules set for College Cars 101, here are a few models that earn an A for the fall semester:

Toyota Corolla: Toyota sees its Matrix, a funky-hatch version of the Corolla, as the model of choice for the college set. But here's where the wise parent comes in: The Corolla sedan may not have the Matrix' hipster name and styling, but it's a notably better car.

Toyota Corolla

Introduced as a 2002 model, the latest-generation Corolla is probably the most faultless small sedan on the planet: roomy, comfortable, quiet, surprisingly powerful, built to quality standards few cars can match. The styling might elicit yawns or even whines from your progeny, but they'll settle down once they see the inferior cars broken down outside the dorm.

If they're helping out with payments, they'll also appreciate the $14,855 base price for the base 2004 Corolla CE. A three-year-old 2000 Corolla CE isn't as sophisticated as the current version, but it runs roughly $8,000-to-$10,000. And the Corolla's exceptional resale value has even '97 models going for $4,000-to-$6,000.

Honda Civic: A hard-earned reputation for quality means you'll pay a stiff premium for Honda vehicles -- new or used. That includes the Civic, a compact sedan, coupe or hatchback that can be whatever your student driver wants it to be: A low-key econobox or a tricked-out, Fast and Furious street rod.

Honda Civic

Practical collegians will lean toward the fuel-sipping HX coupe at $14,710 with a continuously variable automatic transmission. The gas-electric hybrid version is even more fuel-efficient, but the price is a disconcerting $20,550. One more downer: Anti-lock brakes are only available on the Civic hybrid, sporty Si hatchback and top-shelf EX models.

The bright side is that Civics are as reliable as final exams and really hold their value: One popular model, the Civic LX sedan, is still worth $9,000-to-$11,500 for year-2000 models, or $5,500-to-$7,500 for a '97 version.

Honda CR-V: Among compact SUVs, both the Jeep Liberty and Nissan Xterra offer more collegian curb appeal, along with more off-road ability. But the Honda rides, handles and stops better than its truckish rivals, is easier on gas, better-built and costs less comparably equipped: Base price for 2003 is $19,610 for front-wheel-drive models with side air bags.

Honda CR-V

The CR-V's 160-horsepower, 2.4-liter four-cylinder is so deceptively powerful you'll never miss the V-6s offered by competitors. Throw in Honda quality, outstanding safety and a higher projected resale value, and the CR-V wins despite its yawner looks. Year 2000 models are still fetching $12,000-to-$16,500, depending on mileage and equipment.

Hyundai Elantra and Elantra GT: Industry laughingstock no longer, South Korea's Hyundai has seen sales explode after boosting quality and expanding its power train warranty to a confidence-inspiring 10 years/100,000 miles.

Hyundai Elantra

Starting at $12,499, the peppy Elantra sedan and hatchback simply deliver more features for less money than the competition: At $14,149, the GT sedan and hatchback include standard four-wheel disc brakes, side air bags, leather upholstery and steering wheel, CD player, heated power mirrors, alloy wheels, remote keyless entry, intermittent wipers and more. Another $1,033 gets you traction control, ABS and a sunroof. One caveat: Resale value continues to trail the class leaders from Honda and Toyota.

For those with a little more cash to spend and kids they don't mind spoiling, here are a couple of slightly pricier options.

New Car -- Mini Cooper: If tuition hasn't already wiped you out, and your 4.0-average offspring is deserving, nothing will inspire campus envy like the Mini Cooper. Starting at $16,850, BMW's brilliant redesign of the pint-sized British classic is cool, practical, fuel-efficient, easy to park, and a blast to drive and to be seen in.

Mini Cooper

And this isn't the modern, irresponsible equivalent of buying a Camaro for your teen: Front-wheel-drive, reassuring handling and just 115 horsepower (160 horsepower for the $19,850 Cooper S) ensure drivers won't get in over their head. The back seat is minuscule, but then college students are the least likely to grouse about a free ride. And despite David size in a world of SUV Goliaths, the Mini delivers top marks in crash testing, with a comprehensive roster of active and passive safety features including eight air bags and available stability control.

Used Car -- Volkswagen Jetta: The Jetta costs substantially more than its small-sedan competition, giving us pause in recommending it as a new car. And before you get all huffy, no, the Jetta's overall reliability doesn't equal the best from Japan. (Neither does Mercedes, but you don't see many Benz owners trading for a Camry.) The point is that young people are smart, and VWs like the Jetta have earned their enthusiastic loyalty for very good reasons.

2000 Volkswagen Jetta

The Jetta's sophisticated German character shines through in styling, performance and interior craftsmanship, making this a solid used-car buy. A three-year-old 2000 Jetta GL can be had for less than $12,000. That year's Jetta GLS 1.8T, equipped with the terrific turbocharged four-cylinder also found in the Passat sedan and Audi's TT and A4 models, is fetching $12,500-to-$15,000, depending on mileage and options.

Lawrence Ulrich writes about cars for Money Magazine. You can contact him at autos@money.com.