The fastback is to hatchback as notchback is to coupe. The last Mustang fastback rolled off the line in 1978. The Mustang II was technically a "fastback" because the lock was not located in the decklid itself.
Anyways, the 5.0 engine is very reliable, and even if it has 130,000mi on it, as long as it has been reasonably taken care of, it will go quite a while longer. The chassis shouldn't pose any problems at all. The torque boxes are usually only suspect when they have been abused with slicks.
The transmission, if it's beat might be a little weak at 130k. Is he looking for the manual, or automatic?
As far as safety, the cars are very safe in a collision. I should know. Everybody walked away from an accident I was in some years back, about a 60mph head on with an Impala SS vs my little 88LX 2.3L Stang.
The cars are notorious for high insurance rates, and being a very poor choice for a first car, generally. There is a ton of power under the hood, and it can get people into a lot of trouble. While the car is very much catchable, you can always exceed your abilities with a car having well over 200hp. Think 1/4 mile in the mid 14's@100mph bone stock.
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