Looking at a 94 Lightning to tow my 65 Mustang to shows. Who knows about the 94 Lightning?

 

Are you referring to the 351 engine?

 

wondering if a 1994 lightning would hold value or even appreciate.

 

The Lightning had a bit lower towing capacity in stock profile. Think it was around 5k.
Holding value probably would depend on current mileage (?) condition, price and equipment. And maintaining that condition status. If priced well enough, better than average condition, low miles, then I'd image it would hold its value well. Not sure about appreciating in value since they don't really fall into classic, muscle, or collectible status. A following and owner/ enthusiast base is out there thou.