From the June 2020 issue of Car and Driver.
The Fox-body Mustang, produced from 1979 to 1993, enjoyed a long and successful run and earned three 10Best trophies. Over the years, Ford offered a range of power options, but the lustiest models wore “5.0” regalia. Which, as the name implies, meant that when you popped the hood, you’d find a . . . 4.9-liter V-8. At least the cars’ performance could back up the marketing embellishment, leading Ford back to pony-car credibility after the Mustang II debacle of the ’70s. The Fox-body models, particularly the minimalist LX trims, aged well and still deliver an entertaining shove in the back. They were built by the millions, so despite their appeal, a plentiful supply keeps prices reasonable.
Engine
The 4.9–liter—or in cubic-inch parlance, the 302—really rounded into form in 1985, hitting 210 horsepower with a four-barrel carb. By 1987, the fuel-injected Windsor V-8 made 225 horses and 300 pound-feet of torque. But then Ford lowered those ratings to 205 and 280, respectively, in 1993, giving rise to conspiracy theories that the engine was either overrated in its 225-horse heyday or else sandbagged to provide some distance from the 235-hp Cobra. In any case, from 1987 on, performance was pretty consistent. We clocked a 1987 GT at 14.7 seconds in the quarter-mile; a 1993 Cobra ran a 14.3.
Value
The LX notchback, one of the cheapest trims during the Fox-body’s tenure, has become one of the most expensive. It is lighter and stiffer than the hatch and thus prized by speed freaks. (The notchback 5.0 was also the basis for the police-issue SSP.) You can get a drivable car for under $ 5K, but it’ll take closer to $ 10K if you want one that’ll really complement the mint condition of your letter jacket. Between $ 10K and $ 20K, a car’s trim or body style doesn’t matter as much as condition and mileage. Low on funds? Look for the “four-headlight” cars from the early years. They’re not as quick as later cars, but that’s easily fixed.
Problem Areas
Any Rust Belt car deserves a close underbody inspection, especially at the base of the strut towers. The Fox-body platform wasn’t known for stiffness, so if a car has been driven hard, the body may be deformed. The torque boxes (where the rear suspension links mount to the body) can bend or crack. Consider getting torque-box reinforcements and additional bracing to keep the car from wringing its body like a wet towel. But a Mustang 5.0—particularly one with the BorgWarner T-5 manual—is a rugged machine as long as horsepower remains stock. Or at least within the realm of reason.
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