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My parents as a graduation gift offered to buy me a car under 70k. I like Porsche but i don't know which one to get. I know i am very lucky to have such parents but unfortunate on car knowledge. I have also considered an Audi tt, lotus and mustang. I'm not too much into the details, im just a teen wanting to get in a fast car.  

I would go with the Porsche. I'm personally in the car business and I have driven all but the mustang. Which I can't say much about because its a ford. You will get the power, luxury, performance, and style from the porsche. The Audi you would more than likely run into problems with the mechanics of the car. They are super, super touchy and cost alot to fix. With the lotus, completely unpractical. If you haven't driven one, it has the most difficult car to drive. I'm 5'3'' and about 110 pounds and its pretty hard for me to get in and out and drive. The lotus is hard and extremely uncomfortable as well. As for porsche, with under 70k, you could probably get a base cayman, which is a very nice car. The carerra's  are nice but the boxster will out handle them. You could also get a fully loaded boxster S which is a very nice car. My b/f and I own one personally.

I hope that helps  

Honest Answer:

No offense, but you are too young for a Porsche. They are so powerful that they are actually dangerous to drive without years of experience in all conditions plus there are very little places left where you can really enjoy them without getting speeding tickets, etc. You will still be in 2nd gear when you get up to speed. Equally important is that, if you get a car like that now, you'll be spoiled for life. If all you can afford is a Toyota in the coming deep recession/depression, you'll hate driving it. It's like having a Peter Luger's or Ruth's Chris steak as your first and will never be able to go to Outback or a Tom Anderson guitar, you'll never be able to play Fender, etc.  

The good news is that you can afford, personally, to get a sports car (I'm assuming that you are not married and have no kids). In their purest form, sports cars are 2 seat converibles with stick shifts. The greatest joy is snicking through the gears with the wind in your hair while the CD player is blasting your favorite music. It's an experience you'll never forget. For you, this means only one car ... Mazda MX5 (f/k/a Miata). You can bump up the price with all sorts of options. Check out their website for a build-your-own.

This would be the responsible thing to do at your age. Are you a spoiled brat or a young man? That is for you to decide. Then if you really are intent on spending your folks money, ask for the difference in a trip to China or Europe. All these things will change your life.

But, since you asked, if you have that kind of $$$ to spend and you want pure speed, get yourself a Corvette Z06 ... you'll blow the Porsches and everything else off the road. Just make sure you be careful. It would be a shame to cripple or kill yourself at such a young age.  

I'm actually a high school senior and will be going to college in the fall. I see what you mean by the Porsche being a bit over my league, but i know two kids at my school who drive a Boxster and Cheyenne. The only thing i'm concerned about is using stick shift(i currently drive a 2002 altima)because i dont know how to use it yet. And fyi, i have already been to Europe and China. Does this mean i am spoiled?No. It just means i am fortunate enough to have such great opportunities. I worked hard throughout my high school year and my parents are rewarding me. Recently i have considered getting a Shelby or BMW. I would may want to get a caymen when im older. lol  

Well said Fudbutter,
I did not have the opportunity of having parents with deep pockets and do not hold that against you....except that you will not truly appreciate the car. If you are truly serious about having a fun car than save your parents alot of money then look at the tuner market. With the gas prices approaching $4 a gallon, the fact you are going to college (where are you going to park this Porsche?) and the fact you do not have the driving experience; a Honda Civic, Ford Focus, Chevy Colbalt, Mazda 3, or Scion Tc can be made to go very fast, be personalize, and is somewhat practical as long as you don't get too extreme.
Also I am amused by your statement that you "worked hard throughout my high school year and my parents are rewarding me" and wonder why a $70K car would be considered a proper reward for something your suppose to do?  

I can really agree on the gas reaching $4.00. With the gas prices if you are concerned, I would go with a SAAB Aero or Vector. They get in the mid 20's mpg to 35's mpg. Its super sporty with sport packages and they are pretty quick and come with paddle shifting.  

It sounds like you know plenty about cars. Which means your post sounds more like bragging than anything else. Just for my own amusement, I'll answer your question. If your parents will pay for your gas, repairs, insurance and any cost relating to the car itself, then get yourself a nice Porsche Cayman or something. Maybe even a Corvette Z06, that one is pretty fun.
Other than that, I do think you are spoiled. Haahaa. It would suck to be your parent. :P  
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If I were you I rather choose a Honda or BMW because it is perfect for young owners like you.  This is only my opinion but it’s up to you if what do you want to buy. You can read some automotive site like Hybrid World, you can check this for you to get some idea and tips.