Bought a 1996 Ford Taurus and it is running hot

It's normal to drop when the key is turned because your electronics are running like your fuel pump, radio, etc. When you start the car it should jump between 13 and 14 volts when running.

replace thermostat and bleed air from cooling system

anti theft

Change the fuel filter. You more than likely had vapour lock due to insufficient fuel.

Check the water pump.I have seen the impellers corode off.Also check for factory recalls on this vechicle.

Yes, thermostat could be closed shut. Thermostats are pretty cheap and easy to replace. If the car has never had one replaced, I'd start there..

If it was a dealer, go back & have him scan it for fault codes. Usually cheaper to have it scanned and replace one faulty part, than replace 5 parts before you hit the right one. Autozone & PEP boys apparently will scan for free if you bought it private.

If your car has been running hot because radiator fan inopt.and oily subtance in the coolant, There is a good chance you have leaking head gaskets.

1st thing to do is check the automatic trans fluid level, if it is full (check hot only!) then the trans clutches have fried and the trans will have to be replaced or torn down and repaired.

Check the fluid as recommended by Ford. Do u have the owners manual? It will give the procedure. I'm quite sure your Taurus trans fluid is checked at operating temp w/ engine running, in park. U can also check the dipstick, Ford usually has the procedure engraved on the dipstick. The reason for checking the fluid as Ford tells u to, is because their method will give an accurate reading. As u can see from checking the fluid in 2 different ways, u got totally different readings.