One of my friends grew up as the rich kid but still turned out great. He dad gave him a GTO when he was in high school. He was smart enough to not go drag racing with it because if he got a ticket his dad would ground him and that away the car.
He went out with a buddy one night to do some burn outs. They even brought some bleach to make extra smoke. After a while he looked at the tread and they had corded the tires.
He drove to school for a week but rain was in the forecast so he went to his dad and started to hem and haw about needing money for a new set of tires. His dad looked up and smiled and said, yea, the rears are shot, I borrowed your car and did a few burnouts. Here is the credit card, go get some new tires.
He had dodged a big bullet.