This is a no brainer. Buy a V8 4th gen and, if possible, make it a 2009-2010 model. I could type a long list of reasons to take my advice but I have done this so many times the past four years that I can't do it again. Here are the main reasons:
- The 4.6L 3V engine is much more reliable than the 4.0L SOHC V6. The V6's Achilles's Heel is its timing chain guides and tensioners. They regularly fail and it is an engine out repair at a minimum. At worst the failure is catastrophic and takes out the engine which can run $4k-$5k to install a new one.
- The 5R55 transmissions that come with the V6 models is notorious for failing any time after 100k miles. This usually requires a rebuilt transmission to be installed for $2k-$3.5k. The 6R60/80 transmissions that come with the V8 models are one of Ford's most reliable transmissions. They have been used in the F150, Mustangs and Explorers/Mountaineers for many years and have shown to be very reliable and tough.
- The 4.6L 3V V8 makes 82 more horsepower than the V6 and gets better gas mileage. I get 21 mpg on the highway if I keep the speed to 65 mph and 18-19 mpg running 75 mph. The V6s get around 15-17 mpg and sometimes worse.
If you want to further hedge your bets then buy a 2009-2010 V8 model because there were improvements made to the heads that resolved some issues with the spark plugs, some think the wiring harness in these model years are more reliable and the transmission was upgraded from the 6R60 to a 6R80 variation that has a slightly higher torque rating.
You should take the V6 models off your list completely. I have seen too many people come here and post about buying a 3rd or 4th gen SOHC V6 and find that they have paid $7k-$8k to replace the engine and transmission. Also, find one from an area that doesn't salt the roads even if you have to travel to buy it. Most of the vehicles that have lived in the Rust Belt are rusted to hell and back. Many are just a few years from going to the salvage yard and the ones that aren't are rusted to the point that repairs become problematic. Getting a Carfax on vehicles you are seriously considering is highly recommended. The can tell where a vehicle has been over its life (good for avoiding rust buckets), can give accident history and maintenance history. They may not show everything but it is valuable information none the less.
Well, I guess I got long winded after all.