My head gasket blew at 135000km and took the engine with it. Repairs would cost $4500; about the current value of the vehicle.
Excessive road and engine noise was always a problem.
Excellent gas mileage. Comparable with my friends four cylinders.
Great handling and sufficient power.
Absolutely no other repairs besides regular maintenance until head gasket blew.
Extremely disappointed with Ford's response to well known 3.8L V6 head gasket problem.
I will likely be purchasing a Toyota Corolla or Nissan Altima.
I'm happy to hear that you are considering a Japanese car. I'd like to point out to you that when choosing the 2 cars that you mentioned, a Corolla will be probably more reliable, but the Altima will be more sporty. The Corolla has a lot of body roll. If you want an in-between car, go for the Honda Accord. Just as sporty as the Altima, and as reliable as the Corolla.
It seems you were looking for an economy car in the first place. The Mustang was not a bad choice, but neither was it the best. The V6 models were sold mostly to folks who liked the performance image of the V8s, but preferred economy. What nobody will know is how far you drove the car after the gasket went? I've had head gaskets go, allowing coolant into the cylinder, and suffered no ill effects after replacement. In all fairness though, they were not V6 Fords, so it may be a case of apples and oranges.
Ford did not make a 3.8 V-6 for this year.
That's what you get for buying a 4 cylinder mustang :)