The match is to be staged at Rushall Olympic Football Club from 1pm on Sunday, September 12.
Mother-of-three Sawra Shmim is hosting the event to raise money to buy a defibrillator in memory of 19-year-old Arjun Singh Gandham who died in the collision at Pelsall Lane in March.
Three other people survived the collision.
Sawra said: "We have already raised £1,600 through a GoFundMe page and hope to raise more than £2,000 in total.
"There have been several accidents along this road but this was the first fatality.
"One of the teams who will be playing in the football match will be made up of friends of Arjun and the other will see local residents taking to the pitch.
"We are hoping that as many as 300 to 400 people will turn up on the day.
"There will be food, entertainment, a raffle and other things and I think people will really have a good day.
"Admission is £5 online at asg.eventbrite.com or on the gate on the day.
"Any extra money collected after buying the defibrillator will go towards other charities.
"We believe that a defibrillator for Rushall would be something of importance and that this would help honour the name of Arjun.
"I would like to say a big thank you to the kind-hearted people of Rushall who have already made donations and to everyone for their support.
"We are hoping to buy the defibrillator as soon as possible and are hoping that this might happen before the end of the year."