Kaylem Rayne Webb-Hirst (16) and Michael Shelford Mauheni (17) both of Oamaru, died when the vehicle they were passengers in crashed and caught fire at the intersection of TY Duncan and Shortland Rds about 11pm.
The bodies of the two teenagers were discovered in the vehicle when fire crews arrived at the scene shortly after the crash.
The 18-year-old driver, also from Oamaru, survived and remains in a stable condition in Dunedin Hospital.
A funeral for Kaylem, a former Waitaki Boys' High School pupil who recently left the school, was held at St Paul's Presbyterian Church in Coquet St yesterday.
A death notice in the Otago Daily Times on Monday described Kaylem as a "loved and treasured son", an "adored brother", and a "loved and adored cousin and friend to many".
His family made no comment.
The day after the crash, Waitaki Boys' High School rector Darryl Paterson told the Otago Daily Times Kaylem was a friend to many and always happy to help others.
Kaylem's funeral followed another held on Wednesday in Papamoa, in the Bay of Plenty, for Michael, who had been living and working in Oamaru.
A death notice in the Bay of Plenty Times, described him as the "most favourite nephew of all his aunties, uncles and the cousin of all cousins, and friend of all friends".
Detective Sergeant Hannah Booth, of Oamaru, said no information was yet available on the cause of the crash.