[The Deuce]

There will be a lot of people who tell you not to get a v8. I'm not going to be one of them, its not what you asked. Here are some pro's and cons on the two cars.

'95
Pro-Newer
-better looking (opinion)
-Airbags
-Rigidity
Cons-Slower
-Cast pistions
-$$ Insrance AND Purchase

'89
Pro-Better base motor
-Cheaper
-Drop top cruising
Cons-Body flex
-13 years old
-you think its ugly

One thing you may notice the more you get into Mustangs, is how that body grows on you. I'm a bigger fan of it now than when it was new. No matter what, get a pushrod motor. Don't get a 96-new car if you want to keep it and make it fast.

I'd say go with whatever you can slip past the parents and keep the racing on the track.