If a squeaking noise is heard while turning the steering wheel, the outer tie rod ends may be worn and should be replaced.
Problems for specific Ford Mustang GT years:
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Most reported 1996 Ford Mustang GT problems
An internal transmission issue can cause a longer than normal shift from first to second gear, and it can feel harsh. Premature wear of the accumulator seal from scuffing of the accumulator case bore is the cause, and replacing the 1-2 accumulator spring, seal, and piston will correct this concern.