The Mustang may be the most popular muscle car, but it won't matter without good brakes. Replacing a part as important as a brake caliper, in a Mustang or any model, should be done with the assistance or advice from a trained mechanic.
Lift and secure the car onto the jack stand. Remove the tire and wheel.
Remove the retaining clip, parking brake cable and conduit. These are only attached to the rear calipers.
Disconnect the caliper flow bolt, the lower caliper locating pin and the caliper mounting bolts. Discard the flow bolt sealing washers and the mounting bolts.
Rotate the brake caliper about 90 degrees away from the anchor assembly and remove it.
Position the new caliper assembly in place on the anchor plate. Tighten new mounting bolts to 25 foot pounds on a front caliper and 24 foot pounds for a rear caliper.
Connect the caliper flow bolt with new copper sealing washers. Tighten the bolt to 52 foot pounds.
Install the retaining clip, parking brake cable and conduit onto the new caliper.
Attach the wheel and tire. Lower the car off the jack.
Pump the brake pedal repeatedly to position the brake pads before moving the car. Then test the brakes on the road.