18 definitely isn't too young to own a car like that. I still own my car that I had when I was 18. It is still in the process of being "fixed" 10 years later. As for owning a house at 18... 
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Ferris, my father loves this car more than life itself... Apparently, you don't understand! Ferris, he never drives it! He just rubs it with a diaper!
Cameron Frye Ferris Bueller's Day Off 1986
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