My car is a dark green, 1990 Mustang 5.0 LX. The engine was built by Budd Moore Racing, and it looks and sounds very nice. About one month after I bought my car, my transmission started messing up. When the transmission went bad, I had Greenville Transmission Clinic in SC rebuild it. All in all, it cost me $1,411.30. Now the AOD has been rebuilt w/ a high-performance rebuild kit, new torque converter. Now I love driving my green coupe around town barking gears (I have spun my wheels when shifting around 40 mph). Specs: HP: 300+ (not had it dynotested yet) Mileage: under 70k Weight: around 2800k I think
I bought my mustang with over 100,000 miles on it, and it has been a great car. When something does break, it is easy to work on and parts are easy to find. When looking for a Mustang to buy, go with the 5 speed, 5.0 litre coupe. The automatic has problems, as does the convertible's top.
I had a nice 5.0 Mustang... except the automatic transmission failed at 50,000 miles. Dealership told me it was out of warranty, so I was out of luck. $1500.00 later, I had a rebuilt transmission. Except for that and a problem with stalling (TFI ignition module) and problems with the fuel pump kicking out (impact switch in trunk) and problems with leaking headlight housings (common for Ford products) and a few other problems, the car was great to drive.
I've had my Mustang for a few years now. It's one of the most reliable vechiles I own. The performance is incredible. If you plan on getting a Mustang a 5.0 or a 4.6 or even the old 3.8 just plan on having money for a few things (tires and clutches.) I only put about 7,000 miles since I bought it and I'm due for a second set of rubbers and a new clutch.