I have a 2005 V6 black mustang
convertible w/ white racing stripes

I really want to make it go fast but I have not a clue where to start... Help?!?

 

It all depends on what your budget is? Supercharger or a turbo would do the trick along with a few other goodies.

 

SCT tuner , CAI and a proper dyno tune from a reputable shop, get your car tuned right on a dyno. Add a 8.8 rear with 410 gears and a posi unit from newtakeoff.com will put a big grin on your face the v6 wakes up nicely!

 

if your on a budget like me, then what i did first was put on a CAI i decided to go with Ford Racing one, and would recommend that one since its built by the same people that built you car, now it does need a tuner but you can always pick up a SCT one later the check engine light will come on, but i mean its just a light (the tuner gets rid of it). if you can, get the combo and go with that as it will give you the biggest and most felt gain, the next thing i did was get a GT takeoff muffler and it'll give some power like 1 pony but it'll make your car sound and feel a whole lot faster, you could go with a true dual exhaust kit that will give you more power then just the takeoff even more if you go with x-pipe instead of H

 

There are CAI that give better gains then the Ford one, JLT, C&L for instance. Ford continues its restrictive design, and never add a CAI without tuning for it, the computer is quite sensitive to adjustments and you do not want to hurt the engine by running to rich or too lean, etc. Do it right the first time. Combo kits are great, and the tune and CAI will amaze you. Better tires are I would have to say the 2nd best addon. The stock Pirellies dont cut it, think Nitto 555 Extremes or Sumitomo tires. And at least do 3.73 if not 4.10 gears, night and day difference. For all this expect about 2k$, not cheap but then huge improvements you will appreciate. Shop around the various sites and classifieds, you always can find people upgrading, lots of good deals to be had out there, I just picked up an 8.8 rear completely rebuild with 3.73's and t-lock posi, $300 bucks and it has only 10k miles on it.