May I suggest start saving for College?
I too was in your situation when I was 16. My dad was very adamant about me not doing it. I ended up with a Saturn SL2, which bought from my older sister.
Was it cool... no. But it did save me in a crash. The crash wasn't my fault, you aren't guaranteed to cause a crash just because your 16, but I can almost guarantee you will get in one sometime in your life, a huge SUV pulled out in front of me when I was going 55 slammed on the breaks and t-boned him doing 45. I am glad it wasn't a nice car.
I would highly highly highly suggest you instead save some for college, but more importantly, spend it on going out with friends, dates with girls, Christmas presents when that rolls around, etc. I promise you when you graduate from college (if that's your plan, if not replace with any training you need for your wanted career), get a job, save 3-6 months pay for emergencies, start your retirement fund as-soon as you get a job, you will be happy you did, and you will be in a better place to afford the car you want. Plus less stress if something financial comes up
Yes this is not the most fun way to go about it, but I can assure you its the best in theory. I would say I know from experience this way will allow you to be rich some day, but honestly I am 26 and I just got to the point where all those classifications were meet (emergency savings, investment, retirement, etc). But others might chime in that are older and have experienced it. I am glad I listened to my dad back in high school, even if I didn't like the advice he was giving.