Depending if the boys are mechanically inclined, fixing up an older bike could also be a fun family project.
I got a mudbug off here several years ago, and was happily surprised by how cheap parts were. The older 2-stroke bikes are very easy to work on - drum brakes, simple engines etc. Sold it when the Mrs started grumbling about it taking up too much space in the back yard - still regret selling it.
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