Male and 16, grab your ankles! When I was 18 I was paying $210 a month for a 1993 Ford Festiva. I shudder to think what a Mustang would have cost me.
On a side note, I checked with my isurance about the 2003 10th anniversary Cobra I have been looking at. I currently drive a 1995 Nissan Altima back and forth to work. If I get the Cobra my insurance will only go up about $50 a month. I was expecting closer to $150. But after seeing the new pictures released today, I might have to wait after all.
My insurance company lists a Mach 1 as "high performance" and that makes insurance about $1,000 a half for me (I am 31). A Cobra is about $1200 a half. With the hp ratings that are stated, if the insurance companies decide that the new Mustang GT is similar to a current Mach 1 in performance, then the "bend over" comment was pretty accurate. Granted, the base is a bit less expensive than a Mach 1, but they will also have no history on how much repairs cost so they are likely to soak you until it proves otherwise.