The head gaskets blew at 202,000 miles. This is a typical 3.8 problem that I have found out about the hard way. I bought a 1994 Lincoln with the same engine and it blew gaskets this week (101,000 miles) as well.
The air conditioning leaked badly and quit altogether. A/C flywheel seized up on the highway making a mess of the serpentine belt.
Driver's door lock mechanism broke and fell inside door. Now we have to open car from passenger side.
A very comfortable car for the few months I had it. Gave it to my sister and she has had all the above problems.
From the testimonies I've seen on the web, this engine was one of the worst ever made.
Now we have two head gasket repair jobs to pay for, at $1000-$1500 each, or junk the cars.
If it weren't for the reliability issues with the 3.8 V-6 engines, these cars (94 T-bird and 94 Continental) would probably hold their values a lot better. At this point, it makes little financial sense to repair either.
Don't spend any more money on this brick. Send it to the
Big Junkyard down below.
Note: A Comments RSS Feed 
is available. New comments appear in the Members Area before the main site