I too own this exact same car; Pony package, leather seats, my colors.
I have had no problems, it is a guy magnet, and a pleasure to drive.
My only caution would be it doesn't handle well in adverse weather. I only drive it in the summer.
I love this car.
While I am NOT 18 years old. I do own a 2005 Mustang. The car now has 42000 on it and it has been excellent. No problems. I drive it year round and on a half of a dozen occasions I was pushing snow with the front bumper being the first on the road after an snow fall. Being an old guy I have owned muscle cars of the 60's. When it was new and there weren't quite so many on the road I could get stopped 3 times a day from people who admired the looks. This car is fantastic value for your buck, you can't buy this much cool from anyone else for this kind of money. Just buy it and have fun, and don't analyze it to death.
Fantastic cars and I have also driven them during the snowy season without any trouble at all. Just like any other car the driving has to be adjusted a little when the weather is a little less than desirable.
I have owend my 2006 V6 Premium for a little over a year now. I have had excellent service for the dealer here in Wichita, KS. Rusty Eck Ford. I had a problem with my fuel pump cutting out under hard accleration, they, without a question, replaced the pump and I haven't had a problem since. A lot of people speak of steering wheel vibration, but mine doesn't have it. I have a GT muffler, K&N filter, and a few other things, it drives WONDERFUL. As for the over analyzing guys, I could pick a ZO6 Vette apart If I wanted to, heck I could find something wrong with a $200,000 Bentley Silver Spur, What matters is if a guy/girl is happy, and if so, your analysis really doesn't hold water.
I traded a compact pickup in on a 2007 Pony edition V-6 Mustang. My insurance went up very little.
As for performance, I owned a 5.0 up until 2003 and the new 4.0 V-6 is actually a tad faster, while getting nearly TWICE the gas mileage and costing way less on insurance. It handles much better too due to better weight distribution.
We've owned 7 Mustangs, including 4, 6 and 8 cylinder models. They have all been extremely reliable. None of them ever required ANY repairs.
I love the sound of the V-8 too, but the money I save getting 25 MPG beats the heck of the 11-14 mpg my 5.0 got, and the insurance bill is also much, MUCH lower. I'll be sticking with the amply powerful V-6 from now on. 0-60 in 6.5 seconds is still a very respectable time.
With regard to comment 16:48, I've owned 7 Mustangs and the only one that had any steering vibration was one that had a tire that was out of round (which was replaced).
I keep seeing these comments about steering vibration and wonder if some less-than-helpful service departments aren't using the "sports cars are supposed to have road feel" excuse to get out of balancing the tires.
My 2007 Pony Edition doesn't have a trace of vibration in the steering wheel, and if it did I'd insist that it be fixed.
What year 5.0 were you getting 11-14 mpg from that also is slower than the new v-6 model? By the way, the v-6 is a tad slower than 6.5 to 60 as well (more like 7.5 - 8). I had an '88 and a '90 5.0 that would easily outrun any v-6 Mustang including the newest ones and I was getting 27-28 mpg highway with both of them. Might as well stick with the old 5.0 and get better mileage than the new v-6...
My 1990 5.0 V-8 got between 10 and 14 miles per gallon, and even on a trip using the cruise at the speed limit, it never hit 20mpg. My 2007 V-6 gets 21 city and about 24-26 on the highway with the cruise set. It accelerates faster than my 5.0 and does 0-60 between 6.5 to 6.8 seconds. That is faster than my old 5.0 did it. It is totally stock. I will never buy another V-8, which is just as well, as Ford plans to substitute the far more efficient twin-turbo V-6 in the Mustang GT anyway.
When commenter 19:40 was getting 27-28 miles per gallon with a Mustang 5.0, was it being towed or just coasting in neutral down the side of Mt. Everest??
When I was 18 years old, I could not afford any car let alone a new mustang. BTW must be nice.
My current 4.0 V-6 does 0-60 in 6.5 easily. And yes, the late 80's and early 90's 5.0 V-8's were slower and had less horsepower than the new 4.0's.
My 8-year-old 4-cylinder GM compact does 0-60 in 7.5, so why on Earth wouldn't a new 4.0 Mustang V-6 do it in 6.5?? Even our big SUV manages 0-60 in 8.
I've owned 7 Mustangs. None of the V-8's was any faster, or anywhere near as comfortable as my new V-6. I also don't miss the 15mpg my V-8's got. I now get nearly twice that on the highway.
"Also, this puts the new V6 auto just 0.6 second off the old automatic V8's 0-to-60 time and only 0.2 second slower in the quarter."
Minor modifications, such as a cold air induction system can boost the Mustang 4.0's power by up to 31 horsepower or more. This puts them very close to 6.0 flat in the 0-60 run. See the November 2007 issue of Modified Mustangs.
As for GM compacts, the Cobalt SS gets into the 5-second range 0-60. A non-supercharged GM 4 with only minor modifications will easily do 0-60 in the 7's. As for SUV's, the Chevy Trailblazer SS runs 0-60 in the 5's.
You're also comparing a 20 year old V8 to the new one. I drive an 07 GT and I can get 25-30 MPG with the cruise set, and 15-20 around town. Also have been driving it for almost 180000 miles, and it has had no major problems and still drives the same.
I graduated in 1972. Our parking lot was loaded with muscle cars, mid to late 60s models. How about a 66 GTO for 900.00? Chevelles, Camaros, Mustangs, Road Runners, Porsche 914s, a Mark Donahue Javelin, and even a Griffith. We ran Sunoco 260 and Shell high octane at 36 cents a gallon.
When my son hit high school he went with a 95 Mustang GT Convertible. Used today, the Mustang Fox Body and newer pre-95s are a great 18 year old car. Well built, reasonable, and parts everywhere. What's tough for me today is buying ones that cost as much as my first home price. It's hard to imagine the ones I had, and I am buying ones similar. Can't keep them all!