Things to look for....
First, these are in my own opinion the MAJOR things that need to be looked at before you should consider buying a SC of any year.
1. Overall engine condition and mileage- Unless the engine has been replaced or rebuilt, I wouldn't buy an SC with more than 150k miles on the clock. Take someone with you who knows what noises are normal and what ones are bad that an engine can make. If it is knocking or clattering, don't buy it, regardless of price. Look for leaks, especially coolant and oil. Check the coolant in the radiator for oil contamination, and check the oil dipstick for signs of water/coolant contamination (milky looking oil). Maintenance records would be nice, but not necessary. When the engine is running, look at the belts and pulley's for "wobble", especially the crank pulley. If it is wobbling, even a little, chances are the harmonic balancer needs to be changed. Not really a hard job unless it breaks off the car, then it becomes a pain in the A$$. Of course, ask for a test drive and check the gauges, especially the coolant temp gauge. If it is overheating, don't waste your money, there are plenty of SC's out there that run properly.
2. Overall Driveline (tranny and rear end) condition- Make sure that the trans functions normally. For a stick car, the gears may be sort of notchy, that is the nature of the beast with the Mazda sourced M5R2 5speed tranny. After all, it did come from a truck originally. If the car needs a new clutch and you have someone that can change it, go for it. This job is not really that hard. If the clutch pedal feels spongy or make wierd popping noises when you are pushing it in, it is probably the clutch master cylinder going bad. Not that hard of a job to fix, and not too expensive.
Automatic transmission cars. Make sure that the car shift into all gears (including overdrive) with no problems. If the transmission "slips" or has an abnormally long engagement time between gears, don't buy it. The AOD trans is notorious for burning out the Overdrive band and losing 3rd and OD gears. Check the tranny fluid for color. Brown means the tranny is on its last legs and the clutches are ready to lunch themselves. Red is what you are shooting for. Drive the car, then check the fluid with the engine running. Since most of us don't carry a transmission oil temp gauge in our pockets, feel the oil dipstick when removed for excessive heat. Heat is the primary killer of the auto transmission. If I had an auto SC, the first thing I would change would be to add a tranny oil cooler with a small cooling fan on it. Again, maintenance records on the transmission would be great (oil & filter change mileage, etc).
Rear end- Not much here, pretty much the most wearable part is the bushings that keep the differential housing in place. If they are bad, they are pretty inexpensive to buy and easy to replace. You would feel a huge "clunk" under acceleration and upon letting off the gas, coming from the rear of the car.
Brakes- Well, cannot seem to find too many Ford's that don't warp the front rotors. Check all the wheels for signs of leakage of brake fluid. If there is, try to find out from where. Not a deal breaker, but a good bargaining chip to get the price down, if you are willing to do some brake work.
Suspension- The higher the mileage, the more wear and tear on the suspension. Also, a driver that like to drive the car hard and corner alot will wear out things even faster. The most common wear points are the front upper control arms, lower front ball joints, sway bar end links, end rack/pinion mounting bushings. These are not that hard to replace and remember that our SC's are getting old and unless the previous owner replaced anything, chances are you may hear a "pop, clunk, or thunk" from the front of your car at some point and time. Best rule of thumb, especially for those on a budget, deal with the problems as they come. But, say a upper control arm goes out on the driver's side and the other side seems ok, replace both sides, chances are the other side is right behind it in the failure department.
There are many things to list, but I would think that the most important ones to look for would be engine and transmission performance. Everything else is simple by comparison. If you have a good engine and driveline, you have a good basis for a reliable SC. Not to say they won't fail down the road, that depends on the same factors that every other car faces. I can say that you would probably want to avoid an SC driven by a really young driver. Stereotypically speaking, they drive cars hard, especially young men, I know I did!! Avoid excessive mileage and an SC that overheats. Overheating could be something as simple as a bad radiator cap, or as depressing as the notorious head gasket failures. One of the other major issues with our SC's are the cheap factory fluid-filled engine mounts. Some people think that engine vibration is always caused by something in the rotating assembly, but little attention is paid to the engine mounts. Solid rubber ones can be had for about $25.00 each but are a pain in the rear to install unless you have done it before.
In any event, it pays to know someone who is mechanically inclined and will work with you without spending unGodly amounts of $$ for labor cost.
If you have any questions or if I can help in any way, feel free to Private Message or Email me.
Phil Stocker