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I own my own home. Cars come and go. They are not assets, they are liabilities.
Do your parents have a college fund for you with the same amount of money, or more, as the car costs? If so, good job! Otherwise I think its silly, and the money should be invested in something that will last more than a few years. Like college or a down payment on a house.
I am not jealous. I remember what I was like when I was 16. I wanted a sports car. Good luck. I hope you make wise choices.
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