No, it has a chain. long Chain with Hydraulic (problematic) Tensioners
Timing Chain.
Timing chain
It has a timing chain.
The V6 engine in a 2004 Ford Mustang has a timing CHAIN
chain
The 3.8 litre V6 engine in a 1999 Ford Mustang has a timing CHAIN
chain
The Ford Mustang does not have a timing belt, it has a timing chain that should last the life of the engine and requires no maintenance.
The 3.8 litre V6 engine in a 1998 Ford Mustang has a timing CHAIN
The 3.8 L - V6 engine has a timing CHAIN
It has a timing belt.