Here are some good entry-level bolt ons that will make a nice impact:
Dual exhaust. A factory or factory-style (walker replacement) will give you a solid 15hp at the crank. You will also need the LH muffler and tailpipe hangers, p/ns here:
www.p71interceptor.com/dualexhaust
For most, if they do not have it already this is the first modification.
***Mercury Marauder airbox and 80mm MAF. This is a drop-in replacement for your stock airbox, and has better airflow. This is a better option than the "CAI" kits as the Ford intakes ACTUALLY draw in cold air, unlike the rigged aftermarket setups. To use this on a Town Car the only modification required is drilling a hole on the airlid for the -02 external IAT sensor, and in the bottom w/ hole saw to hook up to stock inlet tract. The CV/GMQ/MM draw through front, rather than bottom. THe 80mm MAF is 10mm larger than your stock unit, and uses the same connector so no fooling with wiring.
***SCT custom computer reflash. Unlike the 'canned' tunes you would find with most handheld flashers, an SCT custom tune is tailored for your vehicle and configuration to optimize power and driveability to your preference. A premium fuel, 91 octane tune is recommended for best power (I do not suggest 93 tune if you travel, as 93 isn't available everywhere but AT LEAST 91 is)
The tune will come loaded on a flasher, there are a few models available but I recommend the xcalibrator2 for it's ease of use and user-end adjustability with reasonable price tag.
Lonnie, at
www.blueovalchips.com has tuned many panthers, including his own Town Car, so knows how to tweak these for a safe reliable tune to increase power.
***The two above modifications must be completed at same time, or purchase another tune for your flasher if you decide to do the box/maf later. The 80mm MAF has a different air transfer function which requires computer tuning to correct PCM, note this to tuner when ordering.
Gears! The easiest way to get that land yacht moving is a steeper rear axle ratio. The factory 3.08s on most models are great for highway, but leave much to be desired off the line. 3.55 is my recommendation, steeper than this (3.73+) will require an aluminum or AMMC driveshaft due to resonance/driveline harmonics/vibration at higher speeds from the increased driveline speeds. 3.55 is an all around nice ratio, and you can stick with stock shaft.
Computer tuning recommended to adjust shift schedule, though not required. If you do this before the MM box and tune, just mention it to the tuner then and get it all done at once.
Ported plenum.
www.ADTR.net sells a drop in replacement hi-flow ported plenums for 1996+ panthers (96-04 and 05+ style) These have shown impressive gains and seeing as it is a ported factory part it is a perfect fit.
An aftermarket mustang plenum could also be used, but you will need to tee one of the vacuum lines as the mustang plenum uses one less (no vac brake booster on them)
70mm throttle body. You can do this the same time as the plenum. This is a 5mm increase over stock, though it's gains are much debated. There are many options but the most cost effective is the Lincoln Aviator 70mm t/b. Can order here:
www.adtr.net
Underdrive pulleys. Cheap, marginally effective but there is some gain. Use pulleys for 96-early 01 Mustang GT for your 00 Town Car. March or Steeda recommended, high quality. Stay away from "piggy back" pulleys
Of course there is much more you can do than that. Head over to Crownvic.net, and go to the high performance section. Read the stickied thread "MZT and popular bolt ons" for some info to get you going. Have fun!