To the OP, not to rain on your parade, but this is what happened to another 17yr old's car. Mind you he's only been driving it for about 7 months, and it's been in 4 (5?) collisions prior (relatively minor), has had $~7K worth of body work done within a month of this happening.
http://i.imgur.com/fW9iJRv.jpg
So yeah, the stats paint a sad picture. So keep the traction control on and don't give in to peer pressure to do stupid things. The car above was totaled by the insurance co.