What is better, a 2002 6 cylinder mustang w/out leather & 65k on it, or a 99 mustang gt w/leather, with 75k?

Personally, I would go with the newer, less expensive Mustang with the fewer miles on it. The 6-cylinder engine is plenty powerful enough for this car, and will cost you less to run. That would be, as you requested, the "better, smarter pick." I hope you're doing your racing on proper racetracks or blocked-off roads, not on public roads or highways.

Go for the GT. It will be faster, and you won't have to worry about potential head gasket problems. Plus the V8 sounds much nicer. The GT will also have a better resale value if you ever decide to get rid of it.

If you are really looking to save money, get the 6cyl. You will save on gas, insurance, and it sounds like car payments as well. If you want to keep up with GT's, you will need to put significantly more than $1000 into your V6 to be competitive, so the V8 is better in that regard. It is just a better platform to start making performance mods to. Check with your insurance co, and see what it would be to insure the both of them. The $1000 difference in price is about $20 a month in finance, I would be willing to bet the insurance difference is much more than that. Fuel will depend on your driving habits, but I can wring 22-24 mpg out of my 99 GT on the highway if I am light on the gas. I rarely am, however. }:D Oh, and a V6 Mustang is easily a 13-sec machine, with some basic bolt-ons, chip reprogram and a mild nitrous kit. You can make a sleeper with turbos or a supercharger, too, but there goes your savings and fuel economy, and you will soon wish you were spending this money on a V8. ----- Edit: Think of this: The 4.6 Liter modular V8 is the same basic engine used in the Crown Victoria. Now, what 2 industries use V8 Crown Vics more than anything? Taxis and Police. The 2 professions that put more wear, tear and miles on their cars and engines than almost anyone ele. Would they still universally use this car and engine if it were prone to breaking down, or was expensive to maintain? Fords 4.6L V8 is one of the best, most reliable engines in the world, and will go 250-300,000 or more hard miles before serious work is needed. The 3.8L V6 is basically a truck motor, so it is reliable too, while providing good torque. Body style is basically the same, the main difference will be the hood, the rear fascia, and the wheels (16" on the V6, 17" on the V8). The V6 has a bit softer suspension, and is missing a suspension roll bar, iirc.

unless you want the performance the GT will give you, go for the V6. Other than resale value it will be in most cases cheaper on insurance, maintenance ie: tires, and most of all gas. Granted when you go to resell it will be worth comparatively less, just like it's 1000 less now. But you're not buying it new so you should not see that much more depreciation. Besides if you keep it for a couple years, some kid will come along and want it b/c it looks close to a GT and is in his price range. Good Luck!

V8 all the way. Its a Mustang and you want some pickup when you hit the pedal. Since your dealing with an overhead cam on the 99 it would depend on what broke if you need something fixed, but since your looking to add some parts anyway I'd suggest the V8 since the aftermarket in engine parts is much bigger than the V6 market. Thirteen seconds is just some gears and a splash of N2O away.

gt will always be worth more than a six banger.

You don't want that v6, it's the 3.8 pushrod. now if it was a 4.0 sohc I'd say go for it, but it's not. You won't be happy with the v6 so get the GT