My son is saving up for a used car. He's not 16 yet, but he doesn't want to have to wait - the day he gets his license is the day he'll buy his own vehicle.
We found a great place to buy a used car. It's
www.craigslist.com - in case you haven't heard of it. We actually found a lot of great things through that website. Stuff people don't want anymore, leads on jobs for the teens, etc.
I just love that place. Most everything is free to post there, but some job and housing ads cost something, depending on where you live.