Faults:

Nothing has gone wrong with the car. I needed to fix a couple of things.

Installed a new TPS (Throttle Position Sensor). That cured the rough idle when cold and a miss under light throttle.

Rattle in the dash.. fixed with rubber washers at the steering column mounting bracket.

General Comments:

This car is very fast. Only weighs 1865 pounds.

Very fun to drive and gets at least 30 MPG on Highway.

The interior is basic, but has electric outside mirrors, defroster, rear wiper, all work great.

Car has the twin stick transmission, which gives you 8 forward and two reverse gears.

With a few mods, the 0-60 is in the 6's range. With 195/50/15 tire wheel combination the g pull is in the.85 range.

Fun little sleeper pocket rocket that is a very rare car. made by Mitsubishi, so finding parts hasn't been hard so far.

Faults:

The previous owner changed the head gasket, but other than that with basic maintenance the car has yet to give me a problem (and I'm always tweaking it for more performance). Must be because the car is made by Mitsubishi and not Dodge!

If you are lucky enough to find/buy/own one of these cars (or plan to), buy any spare parts for it you can find...NOW! If you go to your local Dodge dealer trying to get parts, they basically laugh at you.

General Comments:

If you get the opportunity to buy one of these little demons, do it! It's a rare little car, and as far as I'm concerned no other (stock) pocket rocket even comes close. I've owned Civics, Rabbit, Festivas, heck you name it I've owned it.

Even with it's puny ultra-restrictive exhaust (with no less than 3 cats) this thing pulls HARD. The turbo is probably the smallest I've ever seen (and runs out of breath very early -- maybe 4500rpm), but sounds great and works pretty good for the car (though if you're like me you'll be upgrading to a larger one).

Like the other poster said, the handling is quirky. Takes a while to get used to, but once you're comfortable with it the car can be tossed around with ease. I wouldn't want to do any high-speed canyon carving with a Porsche, but for around-town corner throws it performs grand.

The interior is simply hideous (especially the Burgundy color). All aspects of it. I tore everything out the day I parked the car for the first time. That's all I can say about that.

Body integrity? No rust, rot, or corrosion whatsoever. None. Zilch. Nada. Granted I'm on the west coast, but I've owned PNW Rabbits that had loads of cancer. Sheet metal seems a bit thin, but that's just fine by me (less weight). Speaking of weight, the car is a svelte 1900 lbs or so fully loaded (not that there are many options to speak of). What does a new Civic Si weigh? 3300lbs or so? No thank you.

With a few low-cost (or free) mods (bye-bye exhaust), you'll be embarrassing just about everyone in town (and scaring the s**t out of your girlfriend). =D.

Faults:

When I purchased this car, the engine had recently been rebuilt.

The turbo was in need of rebuilding. After disassembly of the exhaust system; I sent the turbo to Majestic Turbo.

The Fuel Injectors were leaking under pressure. I replaced the leaky injectors with Mitsubishi Starion Injectors.

The "Turbo" Seats in the front have started to deteriorate.

The Dash Pad has been cracked since I purchased the car.

The Defroster/Vent Slide Selector is non functional.

General Comments:

This is the first year that Dodge made a turbocharged Colt. The Dodge engineers were cautious about the amount of power to place in such a tiny car, however still made this an impressive performer. I had modifications done to the turbo, which bypassed the engineer's wishes. Currently the cars acceleration is quite impressive, sprinting from 0-60 in just under 6 seconds. This is the same grade of performance as a Dodge Neon SRT4.

The handling of this car is a little hit and miss; it handles well for a 1980's era car, but can get squirrelly at highway speeds.

The Interior Quality is not horrible, but many times worse than a 1980's Hyundai.

The body is starting to generate rust bubbles on the door, front and rear wheel wells, and on the hatchback near the rear wiper.

I have never had an alignment; the car still doesn't need one.