Inexperienced/immature kids and high HP don't mix. I had my share of stupid acts when I was younger but all my cars were mine, paid for by me, insurance, payments, gas, repairs, everything. It was imperitive for me to keep my stuff well taken care of or else I'd be out of luck. I did not have high HP till I was in my 20's and bought my first TR.
I think that each state should make it mandatory for teens to take a high performance driving class-not that stupid driver's ed we used to have. If you give them the proper tools and training, you will make them much safer on the roads- not only for themselves and their friends but for the rest of us on the road.
My neighbor is a 16 year old knucklehead that just got his license. His parents bought him an old f-150 and he's always out wrenching on it. Generally a good kid. However, he is constantly blasting music sitting in it in the driveway and when he drives it down the road all you ever hear is over-revving and burning tires. He asked me why I don't light'em up when I drive my car. I told him to wait till he needs to buy new tires or breaks something... I figure he'll learn the hard way...
