We have opted to sell one of our meticulously maintained 8yo family cars to DD16-- on a structured payment plan that will last two years, but will result in her having a paid-for car that belongs to her on her 18th birthday-- AND the pressure of having a large, structured loan. Well. Large for her. The concept of "regular monthly payments" was pretty intimidating.
She was very concerned, in fact, and ELATED to have landed a summer job that will cover the entirety of this year's payments.
As long as her grades are good, we'll cover her insurance and will help with gas.
This way-- she's driving a VERY good car (safe and reliable), and she isn't paying anything like market value for it (we're selling it to her for 1/5th of its Bluebook value).
She's had her own bank account since she was 12.