I’m considering buying a 1995 Mustang GT with 154k miles for $4k. It would be my first Mustang, and I plan to test drive it tomorrow. My brother thinks the price is too high for the year and mileage. It’s black with a red interior (not my favorite, but I’d be okay with it if it’s a special edition). Would this be a solid choice for a 21-year-old looking for a daily driver? What should I expect in terms of repairs, and are there common issues with a car at this mileage?
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At that mileage, it really depends on how well the previous owner took care of it. If they didn’t keep up with basic maintenance, like flushing and changing the coolant, I’d be cautious. I once bought a Grand Prix with 193k miles, and I had to replace the entire cooling system, radiator, water pump, hoses, thermostat, cost me around $900 for parts.
As for the engine, make sure the oil’s been changed regularly. Same goes for the transmission fluid. If it hasn’t been changed in over 150k miles, you might want to pass. Old fluid can wear down the clutch and cause issues like metal shavings in the fluid. If that happens, you’re looking at a bigger problem, and changing the fluid won’t help without also replacing the clutch. Honestly, $4k seems a bit steep. You could probably find a similar car with fewer miles for the same price.
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Thanks for the heads up! Do you think the SN95 Mustangs are a good choice if they’ve been well-maintained? Or should I consider a New Edge? I see a lot of those with around 100k miles, but I feel like they’re more likely to have been abused.
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The SN95s are super easy to work on, and parts are generally cheaper. They’re a great choice for someone just getting into Mustangs.
And yeah, you’re right. New Edge Mustangs often get beaten up, not necessarily because they’re bad, but because they were the go-to high school cars back in the day. Almost everyone I knew had one, and they didn’t exactly treat them with care. 
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There are definitely some drawbacks to that car. Personally, I’d go for a ’99 or later, or even a ’96 Cobra. I had a ’95 GT, and they tend to run hot. The engine only puts out about 185rwhp from the 215bhp, and it’s tough to get them up to 400hp like the newer GTs. If you want to boost it with a supercharger or do headers and exhaust work, you could get close to 300rwhp, but pushing it to 600hp might be asking too much of that old 302 engine. Back in the day, getting to that level would’ve cost around 5-6k in parts.
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Pay close attention to how the transmission feels when you test drive it. The T5 transmission in those models is notorious for being troublesome. If the gears clash or it pops out of gear during casual driving, it’s a bad sign. Also, keep an ear out for a chirping sound when the engine’s on, it could mean the throwout bearings are worn, and that’s another reason to walk away.
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I daily drove a ’94 GT until it hit 230k miles. Those 302 engines are tough, man, but I did have to replace the distributor a couple of times. If the car’s in good shape, $4k isn’t outrageous, though I’d try to negotiate it down to $3,500. The red interior is pretty ugly, but it’s somewhat rare, which might explain the higher price. If it’s a manual, check the VIN to see if it came with the factory 3.08 final gear or the optional 3.27, which could also justify the price.
Common issues with older cars are usually electrical, but mechanically, they’re solid unless the car’s been abused. Maintenance costs for mine were reasonable, and parts are easy to find since the 5.0 engine was around from ’79 to ’95.
If you’re already considering test-driving it, you’re probably leaning toward buying it. I know I’d be tempted especially since I still miss mine. Done right, these 94-95 SN95 Mustangs can be pretty special. I loved mine. 