Faults:

My top has a couple tears in it from the hot Nevada climate.

Car runs hot even on mild temperature days and this is after the cooling system upgrade from the recall.

General Comments:

This vehicle is a great value for the money. The smooth high reving DOHC has gobs of torque at most rpm ranges. I did add an aftermarket 4.10 rear gear to help the off the line acceleration. The exhaust note turns heads and the looks are timeless.

An excellent Cobra ('96 - '98) can be had for under $15,000 as most owners take very good care of them. For those out for nice performance a stock Cobra does the job. For those looking for a nice base to build on, these vehicles have tons of aftermarket goodies to go to extremes.

Faults:

The main things that have gone bad on this car were the usual wear and tear items.

The original starter just went out at 79000 miles.

The head gasket was replace due to the numerous recalls that ford has on them (Cost of repair was covered by Ford)

General Comments:

This car has been very reliable and somewhat fun to drive.

Even with the car being driven very hard it still runs like it is brand new.

The two things that I wish for are a little more power (I'll get the GT next time) and also needs a little more leg room.

Faults:

No Problems.

General Comments:

This car still drives and looks like new. The leather interior looks and wears much better than the cloth. The Mach 460 sound system needs no upgrades. No squeaks or rattles even though the car is seven years old. A high powered sports car for not a lot of money. The insurance isn't bad. Gas mileage could be better.

Faults:

Leaky gas filler tube o-ring, caused gas to leak badly when the tank was filled, and slosh from the tank at 3/4 full or more.

PCM ("powertrain control module", which is the car's computer brain) is misreading the signal from the IAC (air idle control) valve, causing the check engine light to come on.

Passenger side power door lock failure.

Head gasket leaking at 92K miles.

General Comments:

The main reason I bought this car was because I was in the right place at the right time to get a great price on it, and the car checked out well mechanically and cosmetically. I am generally not a Ford fan, but I liked the styling, and this car is similar to the V6 Camaro I owned for many years, and was very happy with.

Initially and overall, this is a very fun car with a lot of good qualities and nice street appeal. It handles very well (though not as crisp as the Camaro) and has decent power considering how economical it is to run. The engine has good torque, although it is not high revving, and the 5 speed manual is geared perfectly for the engine's characteristics. I had to move the power driver's seat back 3 inches on its frame to make the car comfortable for me to drive, as I am 6'5, but after that it was pretty decent for long distance trips.

The gas leak and door lock problems were cheap to fix, but the computer misreading the IAC valve is a dilemma. The IAC valve functions properly, so the car runs fine, but having the check engine light on most of the time due to it, could keep me from being warned of a more serious problem arising. The computer would be expensive to replace.

The real problem with this car is the 3.8 engine head gasket problem. It turns out that this is a major defect with these and the 4.2 Ford engines. There have been thousands of complaints, and basically, Ford is doing everything it can to avoid paying for repairs. Some models and years have had extended head gasket warranties offered by Ford, only '94 and '95 for the Mustang, but most people are stuck paying for the repairs themselves.

I can't recommend buying from a company that knowingly puts out a defective product and won't stand behind it. Go to the National Highway Traffic Safety Administration to see hundreds of complaints regarding this issue.

http://www.visi.com/~bruns/report3.html