I don't think William was a "true" Cleland. Remember? Dwight said "He's his father's son." Meaning a lover, not a fighter, like Dwight's dad.
To me, the car symbolized Dwight's life. It started out OK, but fell into disrepair after his parents were killed in it (remember the rusted bullet holes they showed?)
After Ben helps Dwight, the car gets a new battery, etc to run well again. Dwight's life, eaten up by a desire for revenge (and killing the wrong guy) is over, even if he hadn't been shot. But if William takes the car, and the new life he's now offered, he can overcome being raised as a second-rate Cleland (notice how they bullied him right at the beginning?).
So, I took it as Dwight's well-wishes for William.
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