I'm 18 and I want a new car, what should I do?

I will be graduating high school this year and plan on putting my graduation party money towards a car. I want a used car (new to me). My current car is a 1994 and keeps having problems. I think it would be cheaper in the long run to get a new car that doesn't have as many problems than to keep getting my... show more I will be graduating high school this year and plan on putting my graduation party money towards a car. I want a used car (new to me). My current car is a 1994 and keeps having problems. I think it would be cheaper in the long run to get a new car that doesn't have as many problems than to keep getting my '94 repaired. I also want something that's more reliable. Since I'm 18, should I get the car put under my name? My current car is under my parents name. Also, would I have to get a loan from the bank? I haven't talked to my parents yet but I will. I've had a credit card since November and have perfect credit. Any polite advice is appreciated.
Update: I do have a job. I make the same amount of money most other teenagers make.
Update 2: I'm trying to go this route instead of expecting my parents to pay for it like so many other kids do.
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