What's it Worth? Should i really invest money into this vehicle?

[Blowbusta]

So i got a 2002 GT 4.6 V8, for 1500$ its my first buy and i love it even tough its been trashed a little i want to see what you guys think and could suggest me for the best interest of the car, as i already said its been trashed, but i really feel like putting in the work/time/love into this car even tough i dont know alot ! This car when i purchased it it was low on everything and it was sitting for a while with a deplorable condition in the inside, a squealing coming from the left back tire but no check engine light! Wich i see as a good sign I’ve called a couple of mecanics to check the status of the car but they wont tell me anything other than the car is fine and good but i really want to take a sensor or two and check everything i want to make this car reliable, fast and smooth, and i know, lots of money for that but i honestly will do whatever it takes, previous owner told me the car overheated and left them stranded once or twice they also said they had it fixed and they fixed other stuff too they let the car go because they said it was too much money they put into it and they really couldn’t afford it anymore after it got hit...

anyways guys sorry for the whole bible i wrote and please give me your most honest opinion !!
I want to turn this car into a beast

 

[Blowbusta]

It doesnt show where it was hit my bad ill update the photos on here too

 

[RaggedGT]

Looks solid enough, but my vote would be to drive it and cut your teeth learning how to do the maintenance and up keep on it. The amount of money you would spend paying others to bring it back to even a factory fit and finish would be very high. And exceed the value pretty quick-But-if that’s the body style you have to have, do the above mentioned learning thing and squirrel away your money. Super clean low miled versions with nice bolt ons can be had relatively cheap. Totally just my opinion- You will find the direction you wanna take and proceed - Also, Welcome to Stangnet

 

[General karthief]

Probably a good starting point, you're young enough to enroll in a automotive mechanics class in like a comunity school close to you then move on to body/paint classes.
One thing that I would do is turn the key to the 'on' position without starting the car and see if the check engine light works, every warning light should illuminate.
Also find a ford repair manual for the car, not a chiltons or haynes, they are not detailed enough.
This is a good resource too:

4.6 Tech Important Threads (NEWBIES, HERE FIRST)

OK peeps. We're getting way too many stickies. So I'm consolidating them into one thread. I will leave this locked so that only mods will be able to add to them. If you see a thread as being genuinely informative, PM me and I'll consider adding it. General Infomation 1996 through 2004...

stangnet.com

 

[Blowbusta]

Probably a good starting point, you're young enough to enroll in a automotive mechanics class in like a comunity school close to you then move on to body/paint classes.
One thing that I would do is turn the key to the 'on' position without starting the car and see if the check engine light works, every warning light should illuminate.
Also find a ford repair manual for the car, not a chiltons or haynes, they are not detailed enough.
This is a good resource too:

4.6 Tech Important Threads (NEWBIES, HERE FIRST)

OK peeps. We're getting way too many stickies. So I'm consolidating them into one thread. I will leave this locked so that only mods will be able to add to them. If you see a thread as being genuinely informative, PM me and I'll consider adding it. General Infomation 1996 through 2004...

stangnet.com

Thanks bro!

 

[General karthief]

That's General Bro, newbie.

 

[Mustang5L5]

Looks mostly cosmetic, unless the hit is a structural hit. Some of the interior stuff could be found relatively cheap since tan doesn't seem to get high dollar pricing on used parts. I see guys parting out SN95 interiors (and other parts) all the time on the FB forums.

$1500 and drives solidly? I'd drive it around. With a car that cheap, you can even have fun with it and not care what happens to it. Take it autocrossing. Strip the interior down and get it nice and light.

 

[Blowbusta]

Looks mostly cosmetic, unless the hit is a structural hit. Some of the interior stuff could be found relatively cheap since tan doesn't seem to get high dollar pricing on used parts. I see guys parting out SN95 interiors (and other parts) all the time on the FB forums.

$1500 and drives solidly? I'd drive it around. With a car that cheap, you can even have fun with it and not care what happens to it. Take it autocrossing. Strip the interior down and get it nice and light.

Yeah its pretty solid some shaking when getting off a ramp and some sketchy sounds but its good honestly and there is no structural damage its just dented as you can see pretty little and im prolly having a trip to the junk yard soon for parts mostly the door and the inside currently its more like an A to B car i take it to work and it turns on every morning and ive been taking care of it most as i can but yeah Once i get enough money together ill prolly turbo it or just mod it slowly