I bought the car with 220,000 miles on it for $1500. Everyone thought I was crazy for buying a ford with high miles. Fortunately, it was a stick, and didn't have the transmission problems a lot of fords have.
The one big thing that went out on the car was the engine. I can't blame it on ford, because I ran the truck without antifreeze in it. I was driving a long ways from anywhere on some old logging trails, when my radiator blew. I had no way out other than to drive or to walk, so I drove it out without fluid and melted 2 of the piston heads. I later found out the reason the radiator blew was because the thermostat and pressure cap had rusted shut, due to the ancient antifreeze in the radiator. Since then I have been more cautious in keeping my radiator flushed. Still, I spent $2000 to have a used engine with 85,000 miles put in, along with a new clutch and radiator. Since then I have had few if any problems. The truck just keeps going. It isn't that powerful, and it won't go much over 50 up steep hills, but all around it does pretty well. I get about 18 miles per gallon around the city, and I have the versatility of a 4X4.
All in all, I've spent about $4000 dollars in the initial purchase and subsequent repairs for a car that has lasted me for more than five years, and yes, it still runs great. I am looking for a new SUV for my wife and kids, as they have outgrown our other car. It scares me to read everyones horror stories. Perhaps I'll look for another old ford with a stick shift.
Source: http://www.carsurvey.org/reviews/ford/explorer/1991/
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