How much should a teen spend on their first car?

So I'm 15 and have my permit. I'll go take my driver's test in September and I'd like a car of my own. It's not an independence thing or something like it. My parents would be more than happy to lend me their cars but my dad has a Nissan Titan and my mom a Suburban. I don't drive very well with bigger cars so I'd like something small of my own.

I'm planning to get a summer job in June and save about $300 a month for my car. What I'd LIKE is a new Hyundai Elantra which is about $16-17K at the local dealer. Is that too much for a first car? What do you think a teen should spend on their first car? Both new and used? Also, what do you think is a good first car?

(note: I'd probably pay a majority of the car. I usually buy all my material items with saved up allowance. I've bought my laptop and iPhone)

Usually a used car is best for a teen driver because it's way cheaper. My brother got an old Jeep Cherokee for $2000 and I got an old Pontiac Grand Prix for $1500. I've noticed a lot of used car models can be from $2000-$12000. I think it's better to get a used car, no older than 5-6 years though, if it's in good condition by the time you want a brand new car model, you can get a good trade in price.

I wouldn't spend any less than $600

You sound very responsible for 15, good for you. Buying a brand new car is not a good idea, the reason being that as soon as you drive it off the lot it has depreciated by thousands. If you are looking for dependability and warranty you can get a Kia or Hyundai (don't let anybody tel you they are not good cars). They have the best warranty at 100,000 miles for first owner and the great thing is that the second owner gets 60,000 and 6 years from the day of original purchase. This way the original owner has taken the depreciation but you still get plenty of warranty by buying a vehicle with 30 to 40 thousand miles on it.
You could by a beater for 300 dollars that could last for a good long time if you want to think about it for a bit. I guess the question is what are your goals? Will you need money for college? If so maybe a big outlay on a car is not good right now, also if you go to college you may not need a car there and could wait.

I think you should spend 10,000 max

I think it would be smart if you could find for a used car in good running condition under $2000. That way, you can get used to it first and save up for a new car while being able to use one.

Honestly if your parents would let you use their cars I think that would be the best choice. It's not more difficult to drive bigger cars you just gotta get used to it which takes not more than a day. Most teenagers buy used cars but that means that there's a greater chance for it to break more often and if you are buying it from a private party they will try to rip you off. There will be a lot of things wrong with the car that they won't tell you about and then you will end up spending more on fixing it than what the car is really worth. Buying a new car is not a very bad idea but that's if you have money. And don't forget that there's also a yearly interest rate and insurance. You can save thousands if you do everything in your parents name and then you can just do the payments but being 15 you are still in school so you can only work part time which means that you will be spending all your money on car payments insurance and gas and you won't have money for shopping and other fun stuff. So like I said I think it will be best to use your parents cars.

I bought both my kids cars because they are spoiled. I have a belief that you should be able to put gas in your car and drive 2000 miles without any concern of the car breaking down. One of them has a 2009 Scion xB that I bought as a repo for 15K, and I just got the other one a 2010 Mazda 3 for 12K.

I would look for a car that is safe and handles well. I also prefer stick shift, as other kids are less apt to try to borrow it, and driving stick makes you a better driver.

I definitely wouldn't go with a new car or even a car with payments to be honest. I think that's where a lot of teens mess up. For my first car I got a 1997 Camaro on craigslist before i bought it i had a mechanic check it out and gave me the green light. I paid $2000 for it. When i got it it had 145,000 miles on it, now it has 210,000 miles on it and is still ticking. Thing got me all the way through college! Best part was no car payments that was especially big with school. Yeah I had a job but i also have to pay tuition and study there was no way I was going to be able to pay $300 for a car payment. My suggestion would be to save up around $2000-$3000 and then buy one. Only thing you would have to worry about is insurance (which will be high not going to lie to you) and maintenance.