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5.0L (1979-1995) MustangTechnical discussions on 5.0 Liter Mustangs within. This does not include the 5.0 from the 2011 Mustang GT. That information is in the 2005-1011 section.
don't know about insurance, but gas mileage really isn't that bad. my old 89 gt 5 speed with 2.73 gears and shorty headers, x pipe, and catback used to get about 24 mpg on the highway.
Depends on state realy. 6 monthes ago i lived in florida and payed 120 a month for libialty on a 1989 caprice @ age 25. Now here in ohio 6 monthes later @ age 26 i pay 135 a month for full coverage on my 01 f150 and liabilty on my 86 stang same policy 2 cars with 1 full coverage . So states make a big diff....