The first thing I'd recommend is a thorough checkup; see if the vacuum lines are new; if not, you'll want to replace those first.
Check the ball joints in the front, and visually inspect all the brake lines.
Do an oil change, and a coolant change, and look at the inside of the coolant reservoir cap for brown sludge.
There are a few known problems, but once you replace the worn rubber, you're unlikely to have a lot of problems until the 120k mile region.
Read thru the recent posts; there are some links to some of the standard issues with your car.
They're 25 years old, mileage or no, rubber ages.
Red '96 Cougar XR-7 240k mi. '02 4R70W, PST DS : '03 PI engine, 04 maf, 24lb injectors, 2.5" exhaust, '02 4r70w + Jmod, DirtyD0g TC + cooler + 3/8" lines, 255 walbro fp. Alpine system.
Black '96 Cougar XR-7 (Lazarus) 210k mi PI Intake, '02 4R70W, Jmod, PST DS, GrogTune, Konis, Mark LCA+Poly, racecougar Custom Engine Chain, and JL and racecougar Bracing.
Black '97 Tbird Limited Edition, '02 4R70W, 255 walbro, PST DS, PBR Brakes&SS lines, Toicko Blues & Springs, GrogTune.
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