So, Junior just got his license and you’re worried about how fast he’s going to be ripping around the neighborhood, huh? Well, Ford just may have the solution you’re looking for. They’re coming out with the new MyKey and it is aimed to help parents both monitor and limit certain areas of their children’s driving habits.

With MyKey, drivers won’t be able to go over 80 miles an hour, and a warning chime will go off at 45, 55 and 65 miles per hour. Kids won’t be able to turn on the radio until they are nice and safe and secure by fastening their seat belt. Even once they can turn the radio on, there isn’t much danger of them blasting it, since the volume is limited to 44 percent of the maximum allowed.

So, most of us probably already use the easy route of auto locks for our vehicle and the familiar “beep-beep” as we walk away is nothing new. The thought of actually having to fumble around and (gasp!) insert a key in the lock is an almost foreign concept these days. But the new smart key offers oh so much more than that.

From as many as several hundred yards, drivers are able to send information to their vehicle to set their seat position to just where they like it, program the radio to their favorite station, even exchange navigation destinations downloaded from a computer. The key has a mini-screen which can display information like whether the vehicle doors are locked, if the alarm is turned on, how your tire pressure is doing, and whether you soon need to stop for gas. Nice little reminder for those who tend to forget that rather important little tidbit.

What else does this thing do? Find out after the break.