:I have undertook the T-5 swap since I now have a temporary second car (its for sale BTW). I used a 1995 Cobra tranny because it was cheap ($400) and is the strongest production T5 avaliable.
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:Problems: You name it I had it. The 94-95 Mustang trannies are different from all others (longer input shaft=longer bellhousing). I used the stock 95 bellhousing but had to cut a hole in it for my shifter fork. I really didn't want to do it but the stock cable clutch location interfered with my header. I plan on buying a early T5 scattersheild soon, and fabricating an aluminum spacer so it will work. The early T5s have the same fork location as the Maverick.
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:I had to fabricate a crossmember, which was really no big deal.
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:Shifter location is almost identical to my toploader. An early T5 would put it father forward which would probably be a good thing, but I have no problem with the location.
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:Speedo cable works with the T5 speedo gear.
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:The drivehshaft had to be 2" shorter. I did some research and some measuring, and it was a stroke of luck that FOrd Racing Performance Parts aluminum driveshaft was the perfect lentgh(45.5)! It comes with U-joints AND the T5 yoke included for just $160, which I figured couldn't be matched by shortening my driveshaft + the cost of a yoke.
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:I can't say whether this driveshaft will work for anyone else because I run a mystery 9" yoke that I bought at a swap meet.
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:Its great. I can go 90 at 2800 RPMs and hopefully I will be running 12s next trip to the track because I probably shaved 100lbs off the car in the process.
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:It's not the prettiest thing in the world but I had limited time to get it on the road. When I finally get my combination done right (eventually want a Tremec) I can do a better job. I attached a pic of my nasty crossmember.