Oh good lord... you're going to hate me for this Jonathan, but I AM going to get on you for your age.. You're about to be 16, I can't even reconcile the stupid shit I wanted, or dreams I had at 16. How long is this infatuation with a Raptor really going to last for you? 6 months, 1 year, then are you going to beg your mommy and daddy for a camero? hell, go big, how about a lambo?? And of course your "hard earned" Raptor is going to be useless because you beat the hell out of it, like any good 16 year old would.
Are you going to go to college Jonathan?... I suppose you expect your parents to pay for that as well? How about helping to get you a house? What about your wedding?
How about you save them a little financial heartache and use your 8k to buy a nice used truck... Then they can save their 30-40k additional to pay for your college. If you still want a Raptor when you have your finances in order and can actually afford it, I say go for it!
I'll tell you a little story about a kid I went to high school with. At 18 he cashed in on a trust fund of about 120k. He bought a new truck, a new car, who knows what the hell else. Not even 2 years later he was flat broke, had totaled the car, sold the truck for a beater and was trying his damnedest to get into a Union with his high school tech degree. A hard lesson to learn if you ask me.
And no, this isn't Jealousy talking, I could really give a crap about vehicles and was ecstatic with my 94 cavalier my dad bought me at 16... I was even ecstatic with the shitbox 05 Neon, he got cheap for us a couple years ago.. a perfect 4th vehicle for us.
Whatever, I'm sure I'm wasting my time here, so...... We financed 40k at a rate of 2.5% and our payment is $714 a month for 5 years. That was roughly 12k down with PA tax and title and a hell of a deal from the dealership. You parents could possible extend the loan terms for a lower payment. And no, the 2012's are not going to go down much when the 2013's come out. Good luck, give your parents my best and be sure to post up pictures of your Raptor when you total it!