I'm the second owner of my Mach 1, and I've had it for nearly 6 years with very little trouble.
The only thing I had to do to the engine, was changing out the thermostat housing after it sat in the garage all winter.
Brakes are very expensive, due to its exclusive brake/suspension package, and they were tough for me to change, probably easy for somebody who does brakes a lot.
The only big problem I had with her, was my transmission's overdrive going out twice.
This was due to the 4:10 rear end that the previous owner had in it....luckily it was a warranty repair and only $100 out of my pocket.
Other than that, it's the best handling stang ever made, and blows the doors off z28 and t/a's
I have been driving this car since I entered college 3 years ago. Since then I have had to replace a seal on the transmission that left me stranded away from home with my car checked in at the dealership for 2 days and it has developed all kinds of rattles and sqweeks. For some reason Ford made the seats with so much side bolstering that the passenger seat is constantly rubbing against the door, which can become quite annoying on a 300 mile drive half way across Texas. While driving long distances the road noise can be quite tiresome, but around town this usually isn't a problem. Other than that I have no complaints the car runs well, is relatively quick and turns heads.
Red 2003 Mach 1 Great Value for your Money Still..
written on 11-18-2011
I got this 2003 Red Mach 1 automatic in Oct 2005 with 13k miles on it and it now has 31k miles on it in Nov 2011. I have had zero problems with it. I have replaced the original tires and fuel filter as part of maintaince. It drives great especially on tight turns and it stops on a dime.
The seating, wheels, black stripes, tachometer, shaker hood makes this car stand out well plus every Mach 1 is fully loaded so you dont have to worry about options.
Overall this gives you 305hp and the car's value is about 14 grand give or take some which is the best bang for your buck if you want the power of a V8 without a big price tag. The only thing better than this in power is a 2011 GT
This car has standard bad traits of "performance" cars that are normally forgivable - poor gas mileage, high insurance premiums, etc. Even the severely minimalist interior (ie., cheap and uninspired) was explained away as being for the "serious" performance enthusiast. Three years after purchase, I'm still waiting for my car to perform. It has no power in first gear - which is fairly important in city driving as you often don't get a chance to shift up before you're cut off. Gunning it to get high rpms looks kind of stupid in heavy traffic. This vehicle has also developed some suspicious rattles during its limited 4700 miles, including weird A/C noises. Maybe it's a lemon.