Ironically, owning a car that nice at your age is probably kind of a social burden. Your friends, family, and friend's parents will surely make negative or hinting comments about it especially based on what you said.
If you saved $3000 for a car over a period of 3 years and hard work then bought a 1995 Cavalier, wouldn't you be a little peeved if your friend gets a $30,000 Challenger just for being a good kid? Lots of good kids don't get that kind of treatment. It's a mixture of jealousy and principles.
Why did your parents stop at a Challenger. Good kids should get a Rolls at least!