I saved starting with a paper route at age 11, and then my A&P job. Bought myself a 5 year old Mustang GT when I was 16. Promptly rammed it into a guard rail. Repaired it. Took I think over a year before I ran it into a wooded area. Crazy stupid kid. Re-painted some, buffed out the rest. Lol. Sold it a couple years later when in college, and later bought a 10 year old slow as f*** Nissan Pulsar which I never wrecked.
I wouldn't buy my kids a car unless I was well off. I predict that when my daughters are of driving age, we'll be able to afford a third car for them to use sometimes. I also predict a lightly used Miata will be the proper ticket. I'll get a car I want again, and they'll be able to enjoy it sometimes too. Girls are a bit less crazy than boys though when it comes to driving.
I don't buy the idea that kids will ruin a car. Perhaps get into accident(s) - yes. But my Mustang was more babied than any car I've had since. Hell I wouldn't take it out in the rain because I'd have to re-wash it.