Haroon, the apple will never fall far from the tree.
My Dad (may Allah rest his soul) was my best friend when he was alive. I was a pampered, much-loved child myself. But at the same time, my old man was absolutely uncompromising when it came to the discharge of responsibility and obligation towards others. I remember, that we used to drive together - with me in the driver's seat and him in the passenger's seat - and his backhand to my ear was never very far away, invariably accompanied by "ulloo dey pathey, aey taangey aala nazar naien aaya" or "peeli batti da matlab aey rukk jaa. Tenoon bohti jaldi aey?" or "menoon apna license vikha. Tu iss qaabil naien ke mein tenoon sadak tey awaien chadd diyaan" 
I got my first car when I was commissioned, kind courtesy of my Father. And although Mirza Jee (what I used to call him) would always top up the vehicle with gas whenever I'd come visiting on weekends, he would insist I chip in with the expenditure on it. Try managing that, on the pay of a 2nd Lieutenant, way back in 1987!
So yes...vehicles build character in a young man. They foster responsibility. Civic awareness. They add to the ability to manage your own resources. And especially, when you get to my age, you look at things from a different perspective. They lend a hand in making you the person you eventually turn out to be!