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Become a Tesla owner through your child for $500

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Once upon a time, if you were a child with an automated four-wheeler, you were the coolest kid on the block.

Evidently, the stakes are much higher to get that street cred these days. Beginning May 2016, the hottest ride for children aged 3-8 will be a Tesla Model S.

Radio Flyer is launching a Tesla for kids, equipped with top end features that would make an adult jealous.

"You choose the paint color, performance, accessories and personalization," the Radio Flyer website states.

The vehicle boasts working headlights, a front trunk, forward and reverse steering, and even a sound system. There's also an ability to personalize the license plate.

These Tesla toys are retailing pre-sale on the Radio Flyer website for $499. To put it into context, a real Tesla Model S retails for at least $70,000.

Consider it one more way for parents to live vicariously through their kids.