Save up and get an 2003+...Tranny, timing tensionors and coils are bad on this car...

 

X2 to bacardi, the 01 has the problematic Ford 5 speed and nikosil cylinder linings....get an 03-08 300 hp 4.2 w/ZF 6 speed.

 

It doesn't have the ZF 5HP24.

It has the Ford 5R55N.

But the 4.0 is still a nice car and I think by now you can forget Nikasil issues (few had them, especially by 01, but also it was a long time ago so if it's been running OK for 10 yrs why worry).

Tensioners are a worry if not already updated - ask and find out.

 

It should have the Ford 5-speed. I find it to be the most reliable component of my 2000 4.0. When things are running right on these earlier models, they are a joy to drive -- the 5 speed is a bit sluggish on kickdown, and has fairly low shift points, but when you put it in "s" mode it comes alive. As mentioned by others, definitely check into whether the timing tensioners on both banks have been replaced with the newer versions. I have learned the hard way that things can get expensive when they fail. If it has CATS, the shocks may be on their way out -- it is much cheaper to replace them with traditional Billsteins and disconnect the CATS system.