[Mr 5 0]

I sold my 1990 Mustang 5.0 - that I had owned since new - last year. I got $2000. for it. It needed paint and a little bit of body work but nothing extensive.

It was all original with a few minor upgrades (3.55 rear, 'Pro 5 0' shifter, HD clutch, CAI, 3-row radiator, etc) and had 125,000 original miles on the odometer. I lovingly maintained it and had a record of everything I ever did to the car, including oil and filter changes every 2,000 miles. It ran great and had no real 'problems'.

However, as I told the happy buyer (a nice guy in his 30's who once had a Mustang 5.0 and always regretted selling it), he was buying a (then) 15-year-old car with 125k on it and as such, there was no way I could guarantee that nothing might go south a week or a month after he took it home. Many major components were factory original, including the 5.0 engine, the T-5 transmission, the alternator, starter, catalytic converters and many other expensive parts that had held up fine for the 15 years that I owned the car.

The buyer understood all that but the fact that I was the original (adult) owner, was selling the car relatively cheap and that I had maintained it so well and had records to prove it persuaded him to take the risk, whatever it might be. I never heard from him again. I take that as a good sign.

Point being that you have a 16 year-old Mustang and unless it had been throughly rebuilt, (and you had paid a lot more than 5500k for it) you will likely have to replace some parts. It's basically an old car. As long as the engine and body are sound, it's not a bad deal if you have the car you really want. Try to enjoy it.