Paul,
16 is a bit young...I'd be a basket case worrying about my daughter.
Pari has a good point about the Police. Insist that you accompany your daughter to file a hit 'n run report w/ them. Let her know about the hi- tech techniques they have to reconstruct an accident (
). She may fess up if she's afraid of being found out in the police station.
Also, if she says she'll live with the damage insist she get it fixed.