16 y/o with a V8 Mustang...man, good luck with the insurance either way. When i got my Stang i was 18 and the insurance raped me on a 6 cylinder. I had a 91 Buick Regal for 2 years, it was a great car to learn how to drive with.
My suggestion to you is to get a regular car first so you get comfortable behind the wheel. Stepping into a V8 when your 16 is dangerous because you want to race everyone, but the experience isnt there.
PS - I recently joined the V8 crowd (woohoo) 1986 Chebby Monte Carlo SS (305) <---boat anchor (needs major rebuilding and tons of TLC)
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1997 Mustang LX V6 
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