ok
So I hear where you're coming from, GM dude.
A lot of people have fealty to either Ford or GM based mostly on family tradition, especially where I'm from (Raleigh NC) and where I live now (Austin, TX.) My dad was a Ford guy, but through GM dabblings I got to see "the other side" as well. I'm a Ford guy too, but there are some select old GM cars (especially '70 and earlier BOP... mmm, '67 GTO) that I'd drive if the price was right.
In any case, here's what I'd recommend. Save your pennies and get either an '88-'93 5.0l LX hatch (the GTs had kind of ugly body treatments IMHO, but they're also reasonably priced) or even an early SN95 ('94-95). Those cars are VERY reasonably priced, and the Fox 3s in particular are about as tough as a bag of hammers.
I'd go with the post '87 Fox 3 ('88-93) personally; cheaper, far more useful with the hatchback, lighter and more powerful (the '94 and '95 had "shift retard" built into the EEC, which saved the trannies but cost you power) and actually better build quality than the later SN95 cars. Not just my opinion, but that of friends of mine who were Ford engineers at the time too.
Lastly... being saddled with a big car payment is a nightmare. If you can avoid it at ALL I can't recommend it more. I've never had a car payment ever 'till now (after owning used cars of every kind imaginable, and buying them outright) and it feels like prison having a car payment around my neck. Be smart, be free, save your dough, buy it outright. You'll thank me, and yes... those cars I mentioned above are within your reach with some savings, and maybe a parental loan.
Then you can burn up your credit cards buying go-fast goodies... do they make any bolt-ons for those Fox 3 5.0l cars?
Just kidding. And don't melt your plastic by being a credit card cowboy... but that is another lecture for another day.
Good luck, friend. One of the reasons I like the Blue Oval camp is that (generally speaking) its pretty friendly. I've expanded my automotive knowledge by an order of magnitude thanks to the friendly Ford folks I've met over the years... real car guys, not blind Ford bigots but guys who also have Pontiacs, Porsches, and Packards too. They like Fords 'cause they KNOW what else is out there.
- J. Dock, some old guy who used to like race, or something.
-'65 Shelby Clone
-'95 Mustang GT