@tdileo
If you want something "fast" at 16....you are just like the rest of us boys! That said some of us lived to "older" ages due to the fact we were lucky or had a few scares in the "fast" car years that we survived. In the game of flying planes there is a saying "There are old pilots and bold pilots, but there are no old, bold pilots". Something to consider.
Now if you are still not convinced do what many of us did and find one you can afford to fix up. Get your hands dirty and learn what makes them tick. Blow a few motors and find out how expensive it is even when you turn the wrench to keep your pride and joy running sweet. I have had (4) Porsche 914's that I built in one fashion or the other, a Datsun 240Z, 280Z, 280Z 2+2, and now a 1984 300ZX Turbo 50th Anniversary Edition with a JDM motor. I also have 4 motor cycles and an Audi A4 convertible. But my everyday rig is a 2005 Chevy 2500HD Crew Cab with a long bed and no one is getting hurt in that thing unless I tangle with a semi-truck. If you have lots of performance parts you will have to become knowledgeable enough to fix your own rig because once you leave stock you get into a smaller group of "tuners" who will empty your bank account faster than you can fill it!
So all that said the next question is how fast do you want to go? The answer is how much money do you have? $8000.00 ain't going very far or very fast period.
I think it might be cheaper to save your money to move out of the house, find your first apartment, get some furniture, clothes, and start your own life. Believe me that day is coming sooner than you think!
Until then find a nano tank and enjoy the reef in your own home.
By the way I am a dad with two young men 25 and 28 and I tried to give them the same advice. One drives a Colorado 4x4 pickup and rides dirt bikes for his speed fix (needs a pickup) the other no longer races dirt bikes and has a granny car (grandmother gave him her 1993 Rivera) and he bought a Nissan Murano SUV. Both solid choices given the fact they are not the only drivers on the road.