Just to make you feel better, my son bought his first car from our own RickV for the heaping sum of $500, it was his money, he saved it up since he was 10. I matched his $500 and baselined the car with his help.
RickV giving him a yuppie 101 lesson.
I cannot stand it when I see a 17-18 y/o with a brand new car. Its not an age thing its a respect for what you have thing, while there are exceptions, most do not appreciate what it takes to be able to purchase such an item and treat them accordingly.
My son goes to private school and one girl in his class from last year got a brand new Range Rover as a reward for getting her learners permit. (mom an dad are doctors)
I suspect one of his buddies in school will get something really nice too, daddy rolls in a new M5 and has an new M3 and a new Zo6 in the garage. I will have a lot of respect for the guy if he makes the kid earn his car but I don't think that will happen.