Help me diagnose some of the issues with my new 95 GT

[JT76]

Hey guys.. my Mustang will be here on thursday. There are some issues with it, but i picked her up for $1200, so i'm not overly worried. One can't find a clean roller for that price around here these days. Anyway, here are the known issues it has:

Transmission:

Previous owner installed the current transmission. Never replaced the converter. He was driving when he heard a "pop" sound and smoke poured out, transmission fluid everywhere. What do y'all think went? I'm not very familiar with autos. A friend suggested the pump might have went or been damaged when he installed the trans?

Engine:

On a cold start (with the car having not been started in about 2 months) there was a rapping on the front drivers side of the engine. After the car warmed up it became more faint, but still there. Went up and down with engine speed. Im thinking a lifter??

He said last time he drove the car on a really hot day, the engine started to get warm, not overheat, just warm. Oil and coolant are fine, so most likely not a head gasket. Im thinking waterpump?


Hopefully you guys can help me diagnose these and i can get her up and running quickly!

 

[ram360]

trans could either be a line or converter. I cracked my torque converter before. it's a mess. If the guy drove it without fluid for a distance just plan on a rebuild. Engine noise sounds like sticky lifter, loose rockers. I'd start by pulling the valve covers, see how everything looks make sure oil is getting up there. If it's running hot i'd start simple, try the t-stat, fan, or water pump. If it only heats up in stop and go traffic but cools off when on the highway it's prob just the fan is tired an not moving enough air and that's the issue.

 

[CC'S95GT]

Sorry I can't help with the auto but it sounds like a replacement is in your future.

Engine- how many miles are on the WP and is the fan kicking on at low and hi speeds? The "rapping" sound might be the lifters but they're more of a tapping ir ticking. More likely is a rod or spun bearing.

 

[Rallim]

I know you said drivers side, but with the overheating issue run a wrench or stethoscope onto the water pump housing and listen to it if you can, maybe the bearings are shot and thats where the overheating and noise is coming from.