There were a few recalls: one for the rear springs. Had a clip installed in case they were to break and puncture the gas tank. And one for the lug nuts having an improper coating that allowed them to loosen. You can check on those two with the dealer if you give them the VIN.
There was a TSB for the exhaust exiting in front of the rear wheel disscoloring the wheel. Some had a problem with this and some didn't. I was one of the ones that didn't and kept my location stock.
Two other observations not covered under a recall: The original spark plug wires sometimes leaked and allowed water down around the plug causing corroaion and rust in there on the plugs solution? Check em and change em, do not wait till 100K. There were two points of manufacturing for the 97 4.6L, Romeo Plant and Windsor Plant. The Windsor had a little bit beefier components. It should be marked on the engine which it has. If not there is a way to check in the VIN for it but I can't recall right off hand what it was. There were a few, and *very* few, reports of the knock in Windsor built 4.6L's. I had a great Windsor one.
Oh..and check for the "door cracks" and rear slider window leaks too.
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