Faults:
The Mustang needed a complete brake job.
The alternator connection was faulty due to a previous repair that was done poorly. The result of the fault was a complete electronic system failure.
The seats in the Mustang are comfortable but difficult to keep clean.
Headlight lenses tend to oxidize and yellow with time.
General Comments:
The Mustang is a blast to drive. Try to imagine strapping yourself into a fighter jet on takeoff. The acceleration is absolutely blinding. The throaty exhaust tone commands respect at traffic signals.
The Mustang averages a little over 20 mpg, which is very good considering the performance. The cabin of the Mustang is large and the rear seats fold down and allow the driver to carry fairly large items in the cargo area. The rear seats are cramped and useless.
The Mustang is not a car that handles well in stock form. I advise anyone interested in owning the car to consider suspension and chasis upgrades. Anything that would stiffen the body and frame of the car should be a top priority.
Also I would advise a 1989 or later vehicle as they are equiped with the mass-air fuel management system. The mass-air system is more upgradable than the previous unit. There are many vendors selling Mustang performance parts at reasonable prices.