The Mark VIII offered an impressive list of mechanical features, many of which were new or improved over the car's predecessor. Like the Mark VII, the Mark VIII featured a unibody construction for structural rigidity, providing optimum driving dynamics and occupant safety. Enhancing occupant safety in particular was a high-strength roof capable of withstanding 5000lbs of pressure, heavy-gauge steel door beams to protect against side impacts, and front and rear crumple zones. Supplementing the car's safety further were standard dual front-side airbags. Four wheel anti-lock disc brakes continued to be standard, as they were in later models of the Mark VII. Like the similar Thunderbird and Cougar, the Mark VIII featured a short-long arm (SLA) four-wheel independent suspension which offered a combination of great handling and ride quality. Enhancing the suspension further were front and rear stabilizer bars and a standard computer-controlled air suspension which used sensors to automatically adjust the ride height of the car to reduce its coefficient of drag at higher speeds. Powering the Mark VIII was an all-new, all-aluminum 4.6L DOHC 32-valve V8. The engine was the first of its kind in Ford's Modular engine family. The 4.6L V8 produced 280hp (209kW) @ 5500rpm and 285lb·ft (386N·m) of torque @ 4500rpm and required premium grade 91-octane fuel for optimum performance. Handling the V8's power was an all-new 4R70W 4-speed automatic transmission with overdrive. The Mark VIII's rear axle ratio was 3.07:1. The Mark VIII also featured standard chrome dual exhaust tips and 16-inch cast aluminum wheels.
Accompanying the Mark VIII's impressive mechanical features was a host of luxury and convenience features. Standard were things such as a 140-mph speedometer, an electronic message center (which provided things such as the time, a compass, fuel efficiency, engine oil life, engine coolant temperature, and various other vehicle-related warnings and information), automatic climate control, cruise control, leather seating surfaces, six-way power driver and passenger seats with power lumbar supports, a three position memory for the power driver's seat, power door locks, heated power mirrors, power windows with a driver's side express-down feature, illuminated keyless entry with remote, automatic headlamps, an AM/FM stereo-cassette radio, and an automatic power antenna. Some of the options the Mark VIII offered were a power moonroof, electrochromic automatic dimming mirrors (which filtered out headlight glare from other vehicles behind the Mark VIII), an AM/FM stereo-CD player, a 10-disc CD changer, and a JBL speaker system.