In September of 2016 I purchased a 1998 Ford Mustang Cobra SVT. 11 months later, the whole car is essentially shot, because of a spun connecting rod bearing. This is a cautionary tale, and something you should be aware of in 32 valve Fords. The car wasn't ticking when I bought it, it started one day during a bought of rather hard acceleration. It sounded like a credit card being held against bicycle spokes as the wheel was moving. Originally, I thought that it was a valve-train issue, and the Internet had me convinced as such. I decided to let it ride as I didn't trust my do-it-myself skills for that job yet, and no mechanic I could find wanted the job because the engine is hard to work on, quite rare and complicated. Well, it wasn't valve-train error, unfortunately, and resulted in catastrophic engine failure one day on my way to work.
In the end, I took a massive bath on the car. That's not to say I didn't love it for the few months I had it, and I will absolutely purchase one again. This can be marked up to bad luck, a bad car, or a freak accident, but nonetheless buyer beware.
The most important moral of the story: ticking or tapping from your engine can absolutely mean the beginning of a spun rod bearing. Get it looked at or fixed before it's too late.
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