Steeda's 5-Link 2 system fits...
Steeda's 5-Link 2 system fits '79-to-current Mustangs and features a 4130 chrome-moly Panhard bar, an adjustable roll center, antisquat settings, and-most importantly for street use-a bolt-on installation with enough clearance for tailpipes and for coilover shock kits. The 5-Link 2 (PN 555-2521) is available for $1,099.
Horse Sense:
The '05 Mustang rear suspension is a three-link design from the factory, incorporating a Panhard bar with standard rubber bushings on the end, meaning neither the 5-Link nor the 5-Link 2 will work. And while the '05 Mustang's rear suspension design is an improvement over the previous four-link design, Steeda has already produced new products that incorporate the 5-Link's design elements, such as adjustable antisquat and sliding adjustments for roll center for the new Mustang's rear suspension system.
We have a solid 20,000-plus miles on our 3g GT project, and the handling supplied by the Steeda 5-Link and accompanying suspension bits is impressive. Whenever we get behind the wheel of our project car, the tight handling and superb amount of control makes us look like superstars.
Before a single wrench touches...
Before a single wrench touches a bolt, the rear axle is measured in its stock form. You can measure from the rear of the tire to the frame, or from the frame to the differential cover bolt (as shown here), to check the location of the axlehousing in the car. You'll need these numbers later to recenter the housing. Make sure you take these measurements with the weight of the car on the axle and rear suspension.
When we first installed the original 5-Link on the GT, the only negatives we perceived were the weld-on installation (it scares many home mechanics away) and that we could no longer use tailpipes. While the Steeda side exhaust is the perfect look for our '00 Cobra R clone, some people prefer a rear-exit exhaust. Little did we know Steeda was already working on a refined version that would allow full exhaust use and that could be completely bolted on in the driveway.
The original 5-Link suspension system was expressly designed for SCCA American Sedan racing rules, which mandated that factory upper control arms must be in place. The original 5-Link, a dedicated road-racing suspension, mounted its upper links inboard of the upper torque boxes to allow the factory upper control arms to stay in place (albeit without any bushings to prevent binding), right where the stock tailpipes would run. This is of little consequence on a race car that usually runs long-tube headers and turndowns. Steeda favored the longest Panhard bar possible with the largest adjustment range for racing use. Since coilover shocks are illegal in American Sedan racing-but extremely popular on the street-Steeda used extra gussets and more material (in the extra room a coilover would need) to add strength to the 5-Link's brackets.

With the car raised and some...

With the car raised and some sort of support under the axle (a floor jack, for instance), remove the rear tires. Remove the quad shocks if still in place. You won't need the quad shocks anymore, but retain their frame mounting bolts for the 5-Link 2's Panhard brackets. If your quad-shock hardware is long gone, you'll have to purchase new bolts.

The next parts to receive...

The next parts to receive the dumpster treatment are the upper control arms. These parts are no longer required as the 5-Link 2's new upper links replace them. Notice here that we've already cut the tailpipes off the car. Tailpipes can be used with the 5-Link 2, but they will need additional bends or custom pipes.

Before the right-side axle...

Before the right-side axle clamp bracket can be installed, the axle vent fitting must be tweaked. On '79-'98 Mustangs, remove the fitting, pull off the brake-line support bracket, and reinstall the fitting, as the bracket just clears it.

On '99-up Mustangs, the axle...

On '99-up Mustangs, the axle fitting (which would have to be relocated by drilling and tapping a new hole on the original 5-Link) will be screwed directly into the axle clamp bracket itself. A thin layer of RTV silicone sealer is used between the axle clamp bracket and the axle tube to seal the vent hole to the bracket, allowing the axle vent to function normally through the bracket itself.

After cleaning the axlehousing...

After cleaning the axlehousing tubes with spray cleaner, the axle clamp brackets are installed. You'll notice an "O" stamped into the brackets. This refers to the "outside" of the car, which is the direction that side of the bracket should face. Loosely clamp the brackets in place. On some model years, you will need to gently bend the brake lines for clearance.

Use a bubble level to level...

Use a bubble level to level the axlehousing. Gently tap the axle clamp brackets until the rear faces of the brackets are perfectly level.