I couldn't imagine driving my cars with stick radios. I think they are more suited to R/C planes.
Another good, relatively cheap radio would be the Airtronics FM MX-3 for only $109. It comes with a servo and reciever.
Don't even bother purchasing an AM radio. FM radios are superior and they usually don't cost that much more.
Here's the MX-3:
http://www2.towerhobbies.com/cgi-bin...=LXCHA8**&P=ML
Sean