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Yes a programmer will fix it but you need to make sure of a couple thing.
If you have 17 inch wheels you need to make sure your tires are rated for any speed you plan to go and the V6 center splined drive shaft needs to be replaced with an aftermarket end Splined.
I understand about the tires, but the speedometer has 160 on it...shouldn't it be able to go faster without those mods?
The Driveshaft is the weak point, it comes apart at about 135MPH. Ford knows this since they have have been reading about it for years.They also know the V6 programming will not let the car go that fast, so when comes apart it is the owners fault. The GT is electronically limited to 145 I do believe so even it will not do the 160 on the Speedo either.
BTW when I bought my 1972 Ranchero GT it would do 110 MPH, still 10 miles per hour short of the 120 it showed. Just because it says it can go that fast doesn't ever mean it can.
Here is the Driveshaft I have in my Car and I do have a tuner from them with their programming so my car has gone over 115 but still have not seen a straightaway long enough for the 160.
My Car and the loose nut behind the wheel doing what I do best