SN-95 Shopper
I'm a recent California transplant from New England, and for 30 years I've owned the others: Chevy, Buick, Olds, AMC, Plymouth, VW, all the Japanese ones, and MG. Now I'm ready for the best-my first Mustang. I've got my sights on a '96-'98 Mustang GT convertible with a manual transmission.
What is the price range for an excellent, low-mileage car? What are your thoughts on a dealer versus a private party versus an auction car? What specific reliability problem areas should I look for? How would you conduct your testdrive/mechanic check? I've read that '97s had more problems than '96s and '98s. I want an original car-no autocrossing/racing and no major modifications. How do I best check for this? I've found some Web sites, but any other information would be appreciated.
Henry LeBlanc
Los Angeles, CA
Welcome to the Mustang hobby; glad you joined us. I've found lots of good Mustang info and cars for sale on the following Web sites: www.corral.net; www.stangnet.com; www.mustangworks.com; and www.autotrader.com.
Of course there's also eBay (www.ebaymotors.com), where the Mustang is the most widely searched car of any model on the site.
As for where to buy a car, you'd probably find the best deal from a private party. Dealerships will always be looking to make big money on a car like an SN-95 GT ragtop-probably upwards of five grand for this type of Mustang. I have no experience buying cars at auction, so I can't really say. Still, a private party would be my first choice.
Now to the nitty-gritty: your first Mustang. Of all the SN-95 5.0 and 4.6 Mustangs out there, the one you want would be first on my list to avoid. Not because they're bad cars, but they're so slow. A '96-'98 GT (especially a heavier convertible) will have a tough time getting around a '99-'04 V-6 coupe. Rated at 215-225 hp, these cars are the slugs of the SN-95 Mustang lineup.
You didn't say if you only like the body style of the '94-'98 cars, but if you also like the newer ones, I'd strongly consider shelling out the extra bucks for a '99 or newer car. These are rated at 260 hp and run much stronger than the earlier models, mainly because of their better-breathing cylinder heads compared to the '96-'98 4.6s.
If you don't like the styling of the '99-'04 "square-edge" cars, you aren't out of luck. If you can swing the insurance, go with a '96-'98 Cobra, which is a great and unique car with the four-valve engine and solid-axle 8.8-inch rearend. The other excellent option in a round-body SN-95 is a '94-'95 5.0. The money you would save over a newer 4.6 could be spent to make more power. These cars have tons of potential with the endless 5.0 aftermarket, and they're probably already faster stock than a '96-'98 GT two-valve. The '94-'95 5.0 Cobras are a little more scarce, but they're out there.
I'd shop for two kinds of Mustangs in your desired convertible body style: either a '94-'95 GT 5.0 or a '99-'04 GT 4.6. You should be able to find a nice '94-'95 driver in California for well under 10 grand. As for the newer cars-some of which might still be under warranty-you can find one for around 15 bills. If you aren't planning on a lot of modifications, the new car is a great way to go. For a starter Mustang that you'll bolt on the usual speed equipment, any 5.0 is tough to beat.
SN-95 convertible Mustangs are less likely to have been modified, raced, or beaten on, but have the car checked at a repair shop or a Ford dealer you trust. When you testdrive a car, listen for funny noises, and drive in stop-and-go traffic and on the highway at normal 65-70-mph cruising speeds to confirm it drives well. Also look at service and/or repair records the owner may have.
Finally, a brand-new leftover '04 GT with good financing wouldn't be bad. The '05 GTs are the best Mustangs ever if the retro styling is your bag and you can afford to spend more than 25 grand for a new V-8-powered GT.