No matter how tempted you are, your first Mustang should be BONE STOCK.
Don't get me wrong, you could get great deals on modified cars, but the most fun you'll have with it is those first few mods (like exhaust) that really get you attached to the car...
Don't rush the search either, there are plenty of them out there...I would look for 89-92 though: mass air and good stock motors.
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1992 LX:V-1 S-Trim ,Edelbrock 6037 Heads,Cobra Intake,E-303,1.6 Rollers,65MM Holley TB, 75 MM Pro M Mass Air, 190 LPH FP,24 lb injectors,MSD 6A and BTM,BBK equal length shorties,offroad h-pipe,Mac Flowpath Mufflers,Pro 5.0, 3.73's,Motorsport "C" springs,welded subframe connectors,Ponies w/ 225/50 Nitto NT 450's on front,255/50 BFG Drags out back,93 Cobra Spoiler
Daily driver 89 Coupe:BBK shorties,offroad,flowturds with dumps,soon to be cyber green
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