America's longest-running and last remaining pony car continues to offer amazing performance at a price to fit most budgets. The Mustang's long history means finding a used model in your price range shouldn't be an issue. And because every generation offers multiple engine choices, it's certain no matter what year you choose, there'll be something hot and spicy under the hood. To be clear, this review deals only with the gas-powered ford Mustang coupe and convertible. The four-door Mustang Mach-E EV is not included.
Ford Mustang Generations
- Ford Mustang 7th Generation
- Ford Mustang 6th Generation
- Ford Mustang 5th Generation
- Ford Mustang 4th Generation
- Ford Mustang 3rd Generation
- Ford Mustang 2nd Generation
- Ford Mustang 1st Generation
Ford Mustang (7th Generation: 2024 - Current)
Key Improvements: The Mustang has earned its spot in automotive history, having twice outlived its closest rival, the Chevrolet Camaro. The latest Mustang coupe and convertible are the most technologically advanced versions to date, offering impressive power, handling, and features at an impressively fair price. The Mustang's engines carry over from the last generation, meaning a standard turbocharged 4-cylinder with about five more horsepower (315) and a snarling 5.0-liter V8 rated at 480 hp. The new Dark Horse series brings a 500-horsepower V8 to play. Only the V8 models offer a 6-speed manual; everything else uses a 10-speed automatic. Fuel economy for the turbo models is a respectable 26 mpg combined, while the V8 versions range from 17 to 18 mpg combined, depending on trim and transmission choice. Significant suspension and steering improvements make this the most agile Mustang yet, but the real upgrades are inside the car's co*ckpit.
An all-new interior brings the seventh-generation Mustang into the 21st century. The old mechanical instruments and outdated audio systems are replaced by a massive digital screen housing the speedometer, tachometer, gauges, and the Sync4 infotainment system (lower-end trims use two smaller screens but to the same effect). Climate and audio controls are adjusted through the touchscreen, although Ford does include a physical volume knob for the radio. New tech and safety features include reverse automatic braking and an adaptive suspension that can adjust itself to counter potholes. Several performance packages and upgrades offer new features, such as an electronic drift brake that improves the car’s drifting ability and Line Lock, which applies only to the front brakes, allowing the rear wheels to spin.
Ford Mustang (6th Generation: 2015 - 2023)
Key Improvements: The 6th generation Mustang brings a few improvements over the fifth-generation car, namely to the car's performance, comfort, and technology. A new turbocharged 4-cylinder engine, alongside a more powerful V8, joins the lineup. The V6 carries over, but only for a short time. All three engines offer the option of a 6-speed manual or automatic transmission. Later in the model run, the Shelby GT500 returns touting a 760- horsepower supercharged V8. Stylistically, the two generations are similar; the same goes for interior design. New features available for this generation include a blind-spot monitor, rear cross-traffic alert, forward collision warning with pedestrian detection, automatic emergency braking, lane-departure warning, automatic high-beam headlights, and adaptive cruise control. Over time, better options appear, such as the Shaker and B&O sound systems, ventilated front seats, an adaptive suspension system, and more performance packages.
Model Updates: For 2016, a new Shelby GT350 package arrives. 2017 brings Apple CarPlay and Android Auto to the Mustang's Sync3 system, and the Shelby GT350 gets the formerly optional Track Pack as standard. For 2018, Ford drops the V6 and adds a new 10-speed automatic transmission. Upper trims get a new 12-inch digital instrument cluster, and the V8 gets more power. For 2019, Ford adds rev-matching technology to the manual transmission. The 2020 Mustang adds the Shelby GT500 trim and improvements to the turbocharged 4-cylinder engine. For 2021, Ford's Co-Pilot 360 driver-assist suite is made standard, rain-sensing wipers get added to the option list, and the Mach 1 trim debuts.
Ford Mustang (5th Generation: 2005 - 2014)
Key Improvements: The fifth generation Mustang grows larger, moving off the decades-old Fox body platform to a new, stiffer design. Riding on a longer wheelbase improves ride quality and handling, as does a new front and rear suspension. Horsepower is up across the board. The fifth-generation’s styling is also new, with a bolder look punctuated by sharp creases, raised wheel arches, and an aggressive grille design that harkens back to Mustangs of the 60s and 70s. Interior upgrades include better materials, more comfortable seats, and cool features like Ford’s MyColor multi-adjustable color dash lighting. Better safety equipment arrives for this generation, including side-impact airbags, HID headlights, and AdvanceTrac electronic traction and stability control.
Model Updates: The 2007 Mustang gains satellite radio and available heated front seats. For 2008, side-impact airbags are standard and two new Shelby models debut: GT and GT500KR. A fixed panoramic roof is offered for 2009. 2010 sees a significant aesthetic makeover and the addition of electronic traction and stability control. 2011 sees the introduction of a new V6 and V8, while in 2012, the Mustang gets a new selectable steering system with Sport, Comfort, and Standard modes. A new supercharger on the 2013 Shelby GT500 bumps output to 650 horsepower.
Ford Mustang (4th Generation: 1994 - 2004)
The 4th generation Mustang moves from square edges to round and features retro design cues like a dual cowl dash design. There’s plenty of power across these years, but nowhere as much as on the newer models. The fourth-generation Mustang doesn't offer a notchback model for the first time since its introduction. It adopted Ford's "New Edge" design language in 1999.
Ford Mustang (3rd Generation: 1979 - 1993)
The long-running third-generation Mustang returns the car to its pony car roots, breathing new life into the brand. Riding on the larger Fox platform, the Mustang’s styling was less polarizing than the Mustang II. The GT trim and convertible model return to the fold during this run. Later years see even better upgrades, like a 5.0-liter V8 engine, flush Euro-style headlights, and a unique turbocharged specialty version called the Mustang SVO.
Ford Mustang (2nd Generation: 1974 - 1978)
Probably the most controversial Mustang, the Mustang II was Lee Iacocca's answer to the 1970s gas crisis. Based on the same platform as the subcompact Ford Pinto, the Mustang II’s smaller size worked on some levels. Trims ranged from entry-level economy to near-luxury courtesy of Ford's newly acquired Ghia of Italy’s design team. Wild models like the King Cobra came with dynamic hood graphics; others offer removable T-Tops. Fans of the 70s TV Series Charlie's Angels will remember Farah Fawcett’s white and blue Cobra II, handed down to Cheryl Ladd in season two.
Ford Mustang (1st Generation: 1965 - 1973)
The original Mustang needs no introduction. It was a brilliant concept built off an economy car platform. Over its eight-year lifespan, the Mustang gained more powerful engines, new body styles, and a loyal following. Today, it’s considered a highly desirable classic by collectors and enthusiasts alike.
Used Ford Mustang Prices by Generation
- Ford Mustang 7th Generation - $46,538 Average price
- Ford Mustang 6th Generation - $33,145 Average price
- Ford Mustang 5th Generation - $22,940 Average price
- Ford Mustang 4th Generation - $17,515 Average price
- Ford Mustang 3rd Generation - $28,112 Average price
Used Ford Mustang Prices by Year
- 2024 Ford Mustang - $46,538 Average Price
- 2023 Ford Mustang - $39,115 Average Price
- 2022 Ford Mustang - $37,122 Average Price
- 2021 Ford Mustang - $34,377 Average Price
- 2020 Ford Mustang - $36,465 Average Price
- 2019 Ford Mustang - $33,314 Average Price
- 2018 Ford Mustang - $29,679 Average Price
- 2017 Ford Mustang - $30,264 Average Price
- 2016 Ford Mustang - $26,088 Average Price
- 2015 Ford Mustang - $24,297 Average Price
- 2014 Ford Mustang - $24,602 Average Price
- 2013 Ford Mustang - $25,284 Average Price
- 2012 Ford Mustang - $23,940 Average Price
- 2011 Ford Mustang - $21,831 Average Price
- 2010 Ford Mustang - $17,779 Average Price
- 2009 Ford Mustang - $22,794 Average Price
- 2008 Ford Mustang - $26,960 Average Price
- 2007 Ford Mustang - $27,181 Average Price
- 2006 Ford Mustang - $15,664 Average Price
- 2005 Ford Mustang - $15,912 Average Price
- 2004 Ford Mustang - $20,889 Average Price
- 2003 Ford Mustang - $21,467 Average Price
- 2002 Ford Mustang - $14,982 Average Price
- 2001 Ford Mustang - $15,124 Average Price
- 2000 Ford Mustang - $15,557 Average Price
- 1999 Ford Mustang - $17,006 Average Price
- 1998 Ford Mustang - $13,202 Average Price
- 1997 Ford Mustang - $17,120 Average Price
- 1996 Ford Mustang - $16,453 Average Price
- 1995 Ford Mustang - $14,006 Average Price
- 1994 Ford Mustang - $17,455 Average Price
- 1993 Ford Mustang - $38,639 Average Price
- 1992 Ford Mustang - $21,032 Average Price
- 1991 Ford Mustang - $21,728 Average Price
- 1990 Ford Mustang - $20,158 Average Price
- 1989 Ford Mustang - $26,989 Average Price
