Mickey Ptak
EF5
Seriously, that is not a bad price... $7,500 is a fair price for your first car.
Not to pick on you but IMHO that really is far to much. The fact that you are a 16-year-old male you have one of the highest chances of getting into an accident and that being due to your experience behind the wheel or the lack there of. Now, that is statistically speaking of course. You also have to consider your insurance cost. It is going to be VERY high and again it's because you are 16 and you are a male.
When my son turns 16 I'm dang sure not going to buy him a $7,500 car. Nope he is going to get $1,500 to $2,000 car. At least until he gains some experience behind the wheel. Then I might buy him a better car pending is maturity level and accident history.
Unless you have a money tree in your back yard (If you do what is your address LOL) then $7,500 is way too much for a first car.
Mick