I'm 27 years old and my and hubby's first car was and still is (for the last 1.5 years) a 1994 Peugeot 205. That's a fun little car and about all we could afford. I don't know how it is in US, but here a Cavalier is a family car and so is the Honda Civic. The poor college students have to be content with Fiat Punto or the Peugeot or something similar like Ford Fiesta. I think you're really lucky to have parents who can just give you a car they don't need and you should be happy that you can fit about 5 of your friends in there. Believe me - after taking the bus for a few times - you'd love your car.
I'm not trying to be mean, just to put things a little into perspective for you. For me it's a wishful reality to get a car from my parents, especially when i paid for university myself and worked all the way through my degree. Maybe your reality is different and you come from a wealthy family and my opinion is completely irrelevant
Just my 2 cents.