The only thing that has gone wrong with the car is the transmission, this just now went bad. Other than that its perfect.
This is my second police interceptor owned within 2 years. The first one was a 1993 and had no problems it had 114,000 miles on the odometer, but it was stuck there so it could've had 250,000 miles and ran solid. I wanted the new body style so I traded it in and got an 1998 Police Interceptor and love every second driving it.
The engine, unless specially ordered or bored out more, is a 4.6L 281. not 4.7L. 4.7 Liter is a Toyota engine.