I would drive this car as is; get some maintenance experience under your belt; save some money; wait for the car market to loosen up, then look for a more exciting car.
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Two reasons; 1. They don’t care what happens to your engine, they aren’t providing any warranty, 2. They assume you’ll do you due diligence and perform the necessary supporting mods yourself (I.E. forged rods, crank, and pistons.)
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How is a stock V-6 Mustang not fast enough for you? When I was younger, the most common “sports cars” were the Toyota Celica, Honda Prelude, Honda Civic hatchback, Dodge Shadow 2-door, Ford Probe, and Chevrolet Beretta. Most of these had a 4-cylinder NA engine with around 120 hp, though some offered a V-6 with around 140-150 hp. And yet, these cars all felt really fast, especially compared to minivans, trucks, and sedans of the time.
The point I am trying to make is that unless you are taking your car to the race track, or having it tested on a dyno, performance is highly subjective, and often colored by expectations more than reality. In actuality, a V-6 Mustang is a high-performance car, especially compared to the 4-cylinder sedans which just about everyone else drives.
However, after watching too many “Fast and Furious” movies, and seeing your friends with their highly modified sports cars, suddenly the Mustang seems “slow” by comparison. But spending $10k or more to turbocharge it is not the solution. Adjusting your expectations is.
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I’d recommend you visit a Mustang-specific forum like https://www.allfordmustangs.com . They have engine-specific subsections. I pretty much guarantee you’ll run into someone who has done exactly what you propose.
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None of those cars are “sports cars” in the traditional sense. Sport compacts perhaps though, none were considered fast (with the exception of the later VTEC Preludes) for their times, at least not when compared to the V8 Mustangs/Camaros/Trans-Ams or 300ZX’s, or twin turbo 3000GT’s and Supras. Compared to it’s contemporaries a 4.0L Mustang isn’t that fast. A V6 Altima, Accord, or Camry will offer equal or better performance. A current gen Miata will beat it handily in a drag race. The 2011+ Mustang V6’s with the much more modern 3.7L Duratec were significantly faster.
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Put a cam in it, perhaps.
http://www.supersixmotorsports.com/_pdf/2018/SSM201840SOHCHeadsCams.pdf
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8
Good advice. I’ve recently seen a Jaguar S Type R, 144,000 miles, with the Turbo Charged Ford for V8 for about the same price of the mods.
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Thank you
Nice to hear someone appreciating their mistakes for allowing them to learn and grow.
thank you for your wisdom and positive take on life.
Thank you i will look into this
would that be to help handle the extra power?
The cam is to make additional power. Typically at a higher RPM. The cam in the post is for the older pushrod engine. The SOHC V6 needs 2 cams and regrinds are about all that is offered… for $750 a pair.
They require tune.
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No experience w/two turbo’ing a Mustang, but if I had that interest the first place I’d look is over at Hot Rod magazine’s website, searching for articles on Mustang turbo projects. The next place I’d look is the Summit Racing website.
Ok, then I don’t have to say it … lol …
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oh yeh ok, interesting, thats quite a bit of money,
but just wondering what kind of power could you expect to gain after installing better cams+tuned?
maybe 40/50hp? (on a mustang like mine which is 210hp)
thank you !
right? 
With no other changes… maybe 20 to 30 HP.
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I would choose long tube headers with cats and an H pipe before cams. There is really no downside to a more efficient exhaust. It boosts power with only a tune and no other changes… But it helps every other change be more effective.
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interesting yeh, those are some mods that my friend also advised a while ago.
i quite like the sound of those mods, healthy for the car and not too complicated.
would that be with a sports cat? and is the H pipe dual exhausts is that what it is.
The catted header kits use high performance cats. The H pipe connects the dual exhausts behind the header but the duals continue. It boosts mid range torque. An X pipe boosts the high rpm HP. Your engine doesn’t allow enough air for high rpm so an H pipe will help you more.
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Thx. I fixed it.
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That exhaust and the new ring/pinion would be a good combination. More fun to drive, and more fun to hear. You said you have a larger set of rims-what tires will you use?