Dude FORD yea! Nevermind the haters, that car is way more reliable than a european/american car of the same stature. Bought my fiance's accord for $500, have almost $1k in it all together now, had to put a new head gasket on it, but would drive it to Cali & back w/o a worry.
Those cars are FORDing monsters when boosted, with a little clean up that will make a nice beater, because after all, why spend over an initial $800 for a decent beater.
Have you checked the T-belt yet?