I got my first car when I got my license at 16, a 1982 Volvo. My family had it since 1982, too. They hadn't used it for much for a couple of years, but were holding on to it for when I needed a car. I went to a prep school with all these rich kids, and by far had the oldest car of them all. I took great pride in it, though. I decorated him full of all these tacky stickers, etc. It was great! I left him back home when I went off for college, though, and my brother started using him when he got his license. He was a little more embarrassed about it than I was. Of course, by the time he got it, it had a dent on the side from someone in my school's parking lot. The little ding effectively totalled the car, so my dad wouldn't pay to have it fixed.
I hope to do something similar for Anna. My parents had enough money to get me a nicer car, but they gave me one that could get me from point A to point B. Anything beyond that was up to me. I like that they didn't spoil me but didn't hold back either. It was a perfect balance, I think. They did the same kind of thing for me in school. They paid my tuition, but everything else was up to me, so I had to get a part-time job.