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why dont you fix the truck you blew up and spend the rest on the stang? I know what you mean about loving mudding, this is my dd.
its need a new engine, tranny, transfer case, i ended up cracking the a pillar, blew out the front and rear left suspension. its a 90 bronco, the top is warped now. its just not worth it.
If I remember right, you can pickup an early 90's Cherokee and mod it for about $5-6k. That gives you the modded truck and a bucket of money left over to save or put part into your mustang, or a combo of both.