I’m in the market for another car. I’ve driven Thunderbirds for the last 13 years. A '94 4.6L which I got 240K out of. Currently have a '97 3.8L with 145K that’s just about done (at least for me. Tired of its engine codes and other problems). I spotted a 1995 Mustang GT conv with 28K on it. 5.0. It’s been in storage since 2006, and is a one owner. That’s all I could find out. Should I be concerned about jumping in a car like that and driving it daily? Should I expect leaks?
I also found a '97 4.6L T-bird with 58K on it. Same question on that one. My goal is to find a cheap car that'll give me 4-5 years. The Mustang doesn’t fit the profile of cheap, but I love it. I had really good luck with my 4.6, so for about $2500, the t-bird seems like a decent car. Just concerned about the low mileage on these, esp at $11K for the Mustang. I don’t want a headache, though. I have that already.
My mechanic doesn’t know why I would want another T-bird, that old. Says they’re a huge headache. Hard to get to pass inspection, always engine lights on. I have that problem with the 3.8, but never with the 4.6. Did I get lucky? Are the 4.6’s prone to similar issues as the 3.8? Intake/head gaskets, O2 sensors, etc?

 

A carfax would be a good first step in identifying if the car was properly maintained.

1995-2000 Mustang GT Common Problems - Ford Mustang Forums