On another note, I think the perfect car if you have the money for a 16 year old is a 328/128i. It is very snazzy and nice, safe and new and has a perfect amount of power IMO. Fast enough to be very fun for a first car but not so much power that you can get into trouble very easily. Of course any car can get you killed but I like this as a compromise if I had kids and had the money I would go this route. Also a nice audi a4 would be reasonable. Even a 335 is way too much for a kid and probably almost worse than an m3 given the ability to reach its full power much easier than an m3.
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