New to Mustang have Qs.

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I am planning to buy a 5.0 Mustang but want to avoid as many pitfalls as possible.

Some background on me. I have always had some form of "fun" car to play with. I grew up Mopar, but have seen the light or headlight as it were. Also I've grown tired of paying extra for the same hop-up parts. I have chosen to go with the 89-93 Fox-body mustang as I love the look, the price is right, and their are lots of upgrades to choose from.

Back to my questions:

1. Is their anything I should look out for?
You know the watch out for this and the X part in Y year is a piece of junk kind of thing.

2. Other than personal preference stick or auto?

3. LX or GT?
I'm looking for an inexpensive fun street car. I'm not sure I need all the extras of the GT but that's why I ask.

4. Any thing I else that would be helpful to know before I start shopping?

Thank you for your help.

P.S. I am posting this on the "street racers corner" board as well.