I bought my GT a year ago with 160,000 miles on it. I was warned not to get a car with that many miles on it, but i proved them wrong. The filler neck grommet leaked If you buy a 4.6 be careful if it has a plastic intake manifold. They tend to crack where the coolant goes through it by the coolant sensor, but that wasnt even hard to replace. The cupholder are horrible and the interior does seem to squeak . Also my window motor went. It does not handle like a European car but it goes like hell in a straight line. But I have 186,000 with relatively few problems. Very reliable.
Lots of power, can smoke them in 3 gears. Great gas mileage for a v-8(26/28mpg). The looks, interior and exterior
The cupholders, interior squeaks, new intake manifold(i think fixed in 99 though), independent susp. would help along with traction control. Doesn't stay straight in rain or snow. My little sister can't even fit in the back seat.