[Romanx]

Hey guys just got my first 5.0, Unlike most other new mustang owners who only know how to make it faster, my questions are a bit different. It is a 1995 with 80k miles on it. My question is what should i do maitenance wise to ensure that there are no problems around the corner. The car is pretty clean except for a whine from the transmission while i am in third gear and my mileage counter just stopped working all of a sudden. Any help would be great.

[Bullitt95]

Firstly, it seems that your odometer gears in the back of the intrument cluster are stripped (a common problem) so replace them with a new drive/worm gear from Late Model Restoration Supply. A cheap and easy fix.
The whining in 3rd gear could be a sign that the 3rd gear bearings inside the tranny are worn. The only cure would be to have the tranny rebuilt but you could just change the tranny fluid (ATF) and live with it for a while.
Everything else is just routine stuff you'd do on any car. Check for other fluid leaks, replace any fluids that look old and contaminated, and replace any rubber hoses that are cracked or hardened. Also replace any old filters (air, oil, fuel), check (and if necessary replace) spark plugs, plug wires, distributor cap, and rotor.

[furreal302]

Depending on how loud it is that whine could be regular gear noise. Or just a bearing like Bullitt mentioned. Either way I wouldn't worry too much about it unless it starts getting louder. I've had cars do the same exact thing and put many trouble free miles on them.

[Romanx]

The whine is pretty noticeable but it does not seems to be affecting performance or anything. How much does it ususaly run for a tranny rebuild? Other than that is seems to run great. I have already decided to get some new brake pads, slotted rotors, tires and shocks this week.