I was in high school (a small town in the Florida Keys) in the mid to late 80s..there were a few '60s-70s musclecars around, but they were all pretty much worn out or rusty (S. Florida salt air). Probably the nicest of the old cars were a pair of twins that had restored '65 Mustangs (burgandy coupe, bright red convertible) and a '50s MGA and early '60s Austin Healey. A buddy had a succession of beater '65-68 Mustang coupes, another had a well-worn silver '65 Coupe de Ville, another had a sharp red '76 Buick Electra 225 coupe.
Lots of '70s-80s full size and midsize cars at my school (Olds 88s, Impalas, LeSabres, Regals, Cutlasses, etc), and quite a few new or nearly new '80s performance cars (Camaro IROC-Zs, Trans Ams and Trans Am GTAs, Monte Carlo SSes, a Buick Grand National, a sharp '84 Hurst Olds, a couple Buick T-types, several Mustang LX 5.0s and GTs (incl. my '87 GT), a variety of Hondas and Datsuns.
There were a couple of 'exotic' cars in my senior class also--a mid '80s Merc 560SEL AMG (white w/ gold BBS wheels), and a 'Magnum PI' style Ferrari 308GTS (bright red). Also remember a black Porsche 944 turbo and a girl w/ a white BMW 3 series convertible..
As far as teacher's cars that I remember, the football coach had an orange Porsche 914, an English teacher had a diesel Peugeot 504, another had clean black '73 Firebird.