Mitsubishi FTO problems seem to be mainly concerned with the engine’s tappets which can get noisy over time. These are small components in the valve-train that determine the amount of valve clearance (or lash). If the lash becomes too great, the engine will start to sound noisy with a persistent ticking noise that will be worse on start-up.
The problem will surface earlier on cars that have a poor service record as skipped oil changes will accelerate wear in their components. It’s not an especially simple job to adjust the tappets, and many workshops advise to have them replaced rather than adjusted.
We’ve also heard of a few automatic gearbox problems, and these can range from faulty sensors requiring replacement, right up to complete gearbox failure. Again, the car’s service record will be a good indicator of its changes of survival into the future.
Beyond that, the same caveats apply to all performance cars of a certain age: Poor crash damage repairs and electrical glitches that are more annoying than anything else.