Transmission started to slip after 50000.
Very bad gas mileage, even for 5.0 liter.
The dealers could not find the transmission problem.
Does not handle curves very well.
It is comfortable and nice looking car.
It is quick.
Just had to add a few quick comments.
The Ford Automatic Transmission is definitely the weakest part in the 1995 Mustangs, especially with the GT models. Those transmissions are bad enough with the V6's as they tend to eat your horsepower and are really bad for mileage.
When the torque of a V8 is added to the mix, the transmission won't be able to handle the punishment, and will usually start breaking up.
Most of the issues you mentioned can be specifically traced to the Auto Transmission in that car. Bottom line: Get a V8 Ford only in Manual Transmission and it's not likely you'll see any problems at all.
We have a 95 gt that started having slipping tranny problems around 100,000 miles. I had a shift improver, shift correction kit installed and its great. I also added lowering springs and the car handles awsome. They are not going to corner great in stock form. IF you want it to handle do some work to it or just drive it and be happy.
I've done so much work to mine it's not funny, but then again it was my choice to do it.
We took the tired crappy 3.1 V6 (which had no bottom end left) out, and dropped in a 5L from a wrecked 95 GT.
It's got a cam, headers, 3:73 gears, new struts & shocks from Tokico, an eibach lowering kit, power-slot rotors & hawk pads, rebuilt AOD with shift kit, and flow-master mufflers, a nice set of mags, and an 800 watt sound system.
All that's left to do is put on a new top and get it painted. Its been a heck of money pit, but this car sure turns heads. I love the car! The gas mileage sucks, but then that what my Honda's for!
The reason for the bad gas mileage is the 95 mustangs had a small gas tank.
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