92' Mustang, Bid Placed!!!!!!!!!!!

[hemi_fan]

1992 Ford Mustang ~ 5.0L, 5 Speed, Hatchback, not trunk model.

Ok, My dad just got really excited today cuz a friend of his saw a 72' Challenger ad and the lady only wanted $5500, so he Immediately ran down the road towards where I work and I drove by him and stopped, he got in the car and was like "Get out, I need to drive down to St. Catherines quik! (1 hour drive) Theres a Challenger there I really wanna look at!!" so he does... 2 1/2 hours later he comes back dissapointed cuz it was really rough, and the frame was totally gone etc. This showed me that he wouldnt mind having a pony car around... so Now I just talked to him and asked him what he thought was wrong with the stang I recently looked at. Surprisingly, he had no specific grudges against it and his excuse was "I just dont know a lot about those cars." Luckily for me, the guy who was selling it is going on his honeymoon tomorrow, so the car wont be sold for at least a week. This gives me 7 days to convince my dad that this will be a worthwhile purchase... Im gunna do tons of research, but I would appreciate more help on this. You guys have been great so far, and hopefully I'll be one of the spoiled kids on this site with a decent 1st car Basically im looking for reliability reports, general info, just anything you can get on the car. Heres a picture to inspire you, lol:



Thanx guys!!
Tell me if you cant see the pic.

Original Post: My Lemons book doesnt go back that far... we went to look at it just now and I liked it. Its the nicest stang ive looked at out of 3, and its really clean in and out. I'm not a mechanic however, and despite what I tell my friends, I dont know much about the mechanics of cars, especially mustangs. What are the major problems with them, and what should I look for? Ive already checked for rust and the body, and the tires/clutch are not worn out... so no major signs of it being driven hard, but what speciffically should I look for?

P.S. I forgot to mention that i'm really happy right now... cuz I can now say that I've driven a performance car (even tho it was around the block). My dad was driving it, and he goes "Hey matt, wanna try?" So I was like... "alright... (kinda skeptical), but i'll probably stall it". He goes "Thats ok, if you stall it, you cant have it!". So I hopped in, my only standard tranny experience is in his spongy 92' accord, and I drove it Really smoothly (I mean smoother than I am in the Honda, lol). The guy who was selling it was like "Damn, I had my money on you stalling it" lol "but u're pretty good!". So I parked it and now we're gunna go back tomorrow when theres some daylight... Thats y i need to know what to look for asap. Thanx guys![/img][/b]