New To...all Of It

You want an SN197. They run from 2005 - 2014. Buy a V8. Do not pass go, Do not collect $200, just buy the V8.

Normal servicing and that sort of thing, you will be able to accomplish easily. After that, it all depends on how deep you want to want to get into it.

You should be able to find one of those years in the 50,000 mile or less range, for a decent price.

In my opinion, this is the best time to buy. Lots of S197s going up for sale by folks leaning toward the S550. S197 is still and will probably be my favorite body style since the early 70's. Mods are relatively cheap and 3 valve motors respond VERY well to boost.

Try to find one that has NOT been modified and whatever you do, don't pay extra for "Go Fast Goodies". All that means is that someone has probably already beat the snot out of it.

Brake and chassis upgrades are nice if they're the right ones and are done correctly. If you are not sure.... Pass and move onto something bone stock and well cared for. If it's got a regular FORD service history, that would be PERFECT.

Drive it somewhere and have it looked over.... Even if it's just a Meineke (SP) 20 point that comes with an oil change. Better yet... have Ford service look the thing over, pull records, and tell you if all the scheduled maintenance has been done.

Good luck! Post pics once you pull the trigger.

Edit:
Oh... and you will probably love the GTCS Convertible.