What I find funny is the discussion is always about new cars.....somehow no one ever says, "my parents agreed to give me thier 7 yr old car when they bought a new one"....
Whatever. Everyone's priorities are different, everyone's financial means are different. I went through on the hand me down system. Yup, in my final year, I had a car. A 9 yr old rabbit. And yes, I always had what people back then considered a "nice" stereo system - all hand me downs from brothers.
Over the years I've met far too many kids who were given cars at school who are so totally ungrateful and obnoxious. It's their right, just the same as making mom and dad pay for a $50,000 wedding and a downpayment on the house. There's an awful lot of spoiled kids around. (And yes, the parents are the ones who allow it to happen). And when mom and dad hit 85, the kids suddenly hover around, worrying about the will. I see it every day. It's pathetic.