You have to look at the whole picture.
If the college loan is very low interest, it may not be worth paying it off immediately, if you have a better use for the cash. If you do decide to use your cash to buy a deuce/car/whatever, and let the college loan's interest accrue, you have to consider that the cash you used to pay for the deuce/car/whatever was borrowed, and is costing you the accrued interest on the college loan.... Just like it would if you took out a car loan.
Should he buy a somewhat rare engined deuce? Only he can determine if his circumstances warrant the cost. I would suggest cutting out some vice or other that isn't really all that necessary to your life: cigarettes, drugs, gambling (lottery tickets), Starbucks coffee, sodas, eating out, theater movies, ... stuff like that. Eliminate a daily trip to Starbucks, and McDonalds, and you could save up to $3600/year. You can make your own lunch for under a buck per day, as compared to more than $5 at the fallen arches.
Also, consider lay-a-way on the deuce while you are saving up funds by eliminating unnecessary "luxuries".
-Chuck