The Ford Mustang is an iconic American muscle car, becoming more powerful with every generation. In addition to the base model, drivers can experience the upgraded thrills of other trims and Shelby GT models. There are also memorable classic versions, such as the Mustang 5.0.
Depending on how you view it, the original pony car can be pleasantly affordable or shockingly expensive. Our ultimate Ford Mustang price guide breaks down how much the various models cost.
Ford Mustang price ranges vary widely
The new Ford Mustang is available in 10 variations, the cheapest of which can be had for under $30,000. There’s also the EcoBoost Premium, which starts at $32,225 and boasts many desirable interior upgrades. The more powerful Ford Mustang GT has a 460-hp V8. And the GT Premium gets the same extras as the EcoBoost Premium.
Next up is Ford Mustang Mach 1, packing the same engine but making 20 hp more and offering several sportier elements. For instance, the Mach 1 boasts Brembo brakes and an active exhaust system, plus a special decklid spoiler. This Stang retails for $53,400.
The EcoBoost, EcoBoost Premium, GT Premium, and Mach 1 models also come in convertible body styles for $5,500 extra.
The Ford Mustang Shelby GT500, the most expensive in the lineup, retails for over $70,000.
If all of that wasn’t confusing enough, the base Ford Mustang can also be purchased with a 2.3L Performance package, boosting it to 330 hp instead of 310 hp. Other upgrades include a performance suspension, racing tires, active exhaust, and paddle shifters with the automatic transmission.
The cheaper Handling package can provide an adaptive suspension, a limited-slip differential, and a stylish rear spoiler.
Another package, GT Performance, offers all the same features for the GT and GT Premium models.
Finally, the Carbon Fiber Handling package is available exclusively for the GT500. It adds carbon fiber wheels for an additional $10,000.
The Mustang car price is in line with other muscle cars
The Chevy Camaro, one of the Ford Mustang’s biggest rivals, offers a slightly cheaper base model. Still, at 275 hp and 295 lb-ft of torque, it also produces less power than the Stang. The Camaro 1LT costs only $500 more and lets you upgrade to a 332-hp engine. And upgrading to a convertible is more expensive for Camaro models, costing $6,000, according to Chevrolet.
The Chevy Camaro 2LT costs $2,000 more and comes with a handful of extra comfort features. Next up is the Camaro 3LT, which starts at $31,500 and provides a Bose stereo and a head-up display. This trim is also the first one with standard safety features, including forward-collision warning and rear cross-traffic alert.
The Camaro LT1 is comparable to the Ford Mustang GT. It comes with a 455-hp V8 engine, Brembo brakes, and a performance suspension. The Camaro SS also gets the V8 and all the convenience features of the lower trims.
But the Camaro ZL1 leads the pack, retailing for $63,000 to $69,000 depending upon the body style. It gets a supercharged 650-hp V8 with several mechanical enhancements to match.
Another Mustang rival, the 2021 Dodge Challenger has a higher starting price than both competitors at $28,870, the Dodge website shows. The Challenger is one of the few muscle cars today to offer all-wheel drive with its base engine. This motor makes 305 hp, while the Hemi V8 comes standard on the Challenger R/T for $35,570.
The RT Scat Pack trim, retailing for $41,645, brings a larger V8 and many fun bits of racing equipment. And the other three trims mainly differ in power. The brawniest — the Challenger Super Stock — harnesses 807 hp and starts at $82,270.
How much is the cheapest Mustang?
The cheapest new 2021 Ford Mustang is the EcoBoost Fastback, retailing for $27,205 without optional packages. Its turbo-four, paired with a six-speed manual transmission, makes 310 hp and 350 lb-ft of torque. You can also option it with a 10-speed automatic, which Ford says improves acceleration.
Swapping out the manual for the automatic gearbox will also give you the best gas mileage — 21/32 mpg combined city/highway. The base engine gets good acceleration, Autotrader says, but it can’t always keep its momentum. Autotrader also gripes that the engine’s growl doesn’t quite complement the Mustang as much as the V8 options.
However, testers also agreed the smaller engine gives the 2021 Mustang the best handling. It corners exceptionally well, with weighted steering for its performance modes and less heft for daily driving. The brakes kick in quickly at higher speeds, though some critics felt they didn’t work as well in regular traffic. Ride quality is also surprisingly smooth and cushy for a muscle car.
The Ford Mustang EcoBoost isn’t too fancy on the inside, but it’s still charming in its simplicity. Trained pros will spot the plastic components scattered about, but the chrome finishing on the dashboard is eye-catching. The Ford Mustang EcoBoost coupe can seat four riders on cloth upholstery.
There’s not much room for drivers to truly stretch out, but at least the seats are supportive. The infotainment system is voice-controlled, equipped with a Wi-Fi hotspot and FordPass. Drivers who spring for the optional technology packages get a touchscreen interface with smartphone integration.
The Mustang Fastback is an even better value in 2021, thanks to all of its advanced safety features. They include forward-collision warning, lane-keeping assist, automatic emergency braking, and several other functions. The only two driver assists that don’t come standard are adaptive cruise control and rear parking sensors.
The Ford Mustang GT price varies by model
Two Ford Mustang GT trims are available for the 2021 model year, with the GT fastback starting at $36,285. The 460-hp V8 has a more satisfying exhaust note and a healthy 0-to-60-mph time under four seconds. Autotrader reports that the GT models are slightly more nose-heavy, but it doesn’t severely affect performance.
Like the EcoBoost, the GT offers a six-speed manual or a 10-speed automatic transmission. The manual option comes with special rev-matched gearshifts. In addition, all Mustang GTs come standard with heavy-duty front springs, a bigger sway bar, and optimized chassis tuning. Ford offers a performance kit with even more track goodies.
The Ford Mustang GT also has the same comfort features as the EcoBoost Premium trim. They include partial-leather heated and ventilated seats that are power-adjustable.
The Ford Mustang GT Premium starts at $40,285 for the coupe and $45,785 for the convertible. The 10-speed automatic comes standard for this trim unless the buyer selects otherwise. It also comes with all-leather seats and every optional technology offering.
Sit down for the Mustang Shelby GT500 price
Ford sells the 2021 Mustang Shelby GT500 only as a coupe. Starting at $72,900, it comes with a supercharged V8 capable of 760 hp and 625 lb-ft of torque. It pairs with an exclusive seven-speed dual-clutch automatic transmission, but you can opt for the six-speed manual.
The Mustang Shelby GT500 is unsurprisingly the fastest model, reaching 60 mph in 3.4 seconds, Car and Driver reports. This Mustang even outraced popular high-performance models from Porsche and Jaguar during C/D’s Lightning Lap event. It’s also a great daily driver thanks to its standard adaptive dampers.
The Shelby GT500 can be optioned with a few packages, starting with the $1,500 Handling upgrade. This includes only splitter wickers for the Mustang’s face and a gurney flap for the rear wing. The Carbon Fiber Handling package costs $10,000 and adds black carbon fiber wheels.
An oil catch can and strut top mounts are also included, plus the contents of the Handling package. The Carbon Fiber Track Pack comes with all of those features plus a carbon-fiber wing and instrument panel. Drivers also get access to bolstered Recaro sports seats. With that upgrade, a fully loaded Ford Mustang Shelby GT500 costs a grand total of $91,400.
The Ford Mustang 5.0 price: A ’90s flashback
If you don’t feel like splurging on the Shelby GT500, the Mustang 5.0 might be a more attractive alternative. This model features the iconic Fox body that Ford produced between 1979 and 1993. “You can snag a good condition ’90s-era 5.0 for less than $8,000,” InsideHook reports.
After cycling out a few V8 engines, Ford determined the best one to make 225 hp and 300 lb-ft of torque. This allowed the Mustang 5.0 to reach 60 mph in about six seconds and the quarter-mile in 14 seconds. Its top speed taps out at 140 mph, only 15 mph slower than the 2021 Ford Mustang EcoBoost.
Any Mustang 5.0 that Ford built in 1986 and beyond has that engine, offered in two trims. The reserved LX trim can be found as a two-door coupe or a convertible. According to MotorTrend, this was the Mustang’s first generation with convertible body styles.
The Mustang GT models of this era were available as a convertible or hatchback and came with extensive suspension tuning. The Mustang 5.0 also boasted chrome-tipped exhaust pipes and exclusive paint colors.
All models come equipped with a durable five-speed manual transmission. Despite its larger backside, it was said to have better handling than the competing Camaro at the time. It was also more agile around corners thanks to its lighter engine.
Do Mustangs hold their value?
According to CarEdge, the Ford Mustang depreciates by only 38% after five years. That reduces the average Mustang’s value to around $22,518, assuming the car remains in good condition with low yearly mileage. It still keeps over 36% of its value after 10 years, and older Mustangs are known for maintaining their impressive performance.
Edmunds cites even lower depreciation rates after five years at $11,958. Annual maintenance around its fourth year is slightly more expensive than rivals, around $2,000. But repairs cost only $740 annually after five years, with the first two years covered by Ford’s warranty.
Do Mustangs last long?
Most Ford Mustang examples can make it to 200,000 miles. At a rate of 15,000 miles per year, that means you’ll keep the Mustang for a little over 13 years. However, some drivers have reported their older Mustangs living up to 400,000 miles with minimal repairs.
Corroding paint seems to be one of the few major issues on Mustangs starting at around 48,000 miles. Rust typically appears around the 10-year mark. Experts speculate that cosmetic issues are common with Ford vehicles because undercoating isn’t used in the painting process.
Still, a Ford Mustang will last a long time when properly maintained and repaired. Whether you’re thinking of buying the base EcoBoost or the beastly GT500, each will be worth the money in terms of performance.