How much should I pay for a used Mustang?

When it comes to purchasing a used Ford Mustang, the price can vary significantly depending on factors such as the model year, mileage, condition, and optional features. However, as a general guideline, you can expect to pay between $15,000 to $40,000 for a used Mustang, with the average price falling around $25,000.

Factors Affecting Used Mustang Prices

The price of a used Mustang is influenced by several key factors:

• Model Year: Newer Mustang models, such as those from the last 5-10 years, will typically command higher prices than older models.


• Mileage: Vehicles with lower mileage are generally more valuable, as they have less wear and tear.


• Condition: The overall condition of the Mustang, including the interior, exterior, and mechanical components, will significantly impact the price.


• Optional Features: Mustangs equipped with premium features, such as high-performance engines, upgraded brakes, or advanced technology, will be priced higher than base models.

It's important to research the current market prices for used Mustangs with similar specifications to get a better understanding of a fair price range.

Negotiating a Fair Price

When negotiating the price of a used Mustang, it's essential to be informed about the current market conditions and the vehicle's history. Consider the following tips:

• Research Prices: Use online resources, such as Kelley Blue Book or Edmunds, to determine the fair market value for the specific Mustang model and year.


• Inspect the Vehicle: Thoroughly inspect the Mustang, or have a trusted mechanic do so, to identify any issues that could be used to negotiate a lower price.


• Negotiate: Use the information you've gathered to negotiate a fair price with the seller. Be prepared to walk away if the seller is unwilling to meet your reasonable offer.


• Consider Additional Costs: Factor in the cost of any necessary repairs or maintenance when determining your final purchase price.

By considering these factors and negotiating effectively, you can find a used Mustang that fits your budget and meets your needs.

Are mustangs expensive to maintain?

No, Mustangs are not generally considered expensive to maintain, especially compared to other cars in their class, and are considered relatively reliable. While total ownership costs can be high due to factors like depreciation and insurance, the cost of regular maintenance and repairs is often average or lower than expected for a performance car. The specific costs depend on the model year, engine type (EcoBoost vs. GT), and individual maintenance needs. 
Factors to consider

• Reliability: Modern Ford of Boone notes that the Mustang scores well on reliability ratings, indicating dependability and potentially lower repair costs over time. 
• Maintenance costs: The cost of routine maintenance is manageable. For example, this YouTube video notes that consumables like brakes and tires last a long time and don't break the bank. Another YouTube video states that maintenance costs are not exorbitantly high. 
• Model and engine: Maintenance costs can vary significantly depending on the specific model. For example, the 2024 Mustang GT's 5-year maintenance costs are estimated higher than the EcoBoost models due to engine size and other factors. 
• Repairs: While routine maintenance is not overly expensive, major repairs can be costly. For instance, RepairPal lists several potential repairs with prices ranging from a few hundred to over eight hundred dollars, depending on the part. 
• Depreciation: While not a direct maintenance cost, the total ownership cost includes depreciation, which can be substantial, especially for newer models. 
• Insurance: Insurance costs for a Mustang can also be high, adding significantly to the overall cost of ownership. 

How to keep costs down

• Shop around for insurance: Get quotes from different insurers to find the lowest rate for your specific needs. 
• Compare maintenance plans: Some dealerships offer maintenance plans that can help manage costs upfront, but it's important to compare the cost of the plan to the cost of individual services to see if it's worthwhile for you. 
• Find a good mechanic: Build a relationship with a reliable mechanic who can provide fair pricing for services and repairs. 

What's the best year to buy a Mustang?

The "best" Mustang year depends on what you value, but strong contenders include the 2014 for its reliability and final refinement, the 1969 Shelby GT500 Cobra Jet for classic performance, the 2011-2014 GT for the introduction of the modern Coyote V8, and the 2015-2020 Shelby GT350 for its high-revving, track-focused Voodoo engine. Other popular choices include the fifth-generation S197 models (2005-2014) for their all-around balance and the 2018-2024 Mustang GT for its combination of modern features, power, and handling.
 
This video explains the ranking of different Ford Mustang generations: 55sAnt's Car ReviewsYouTube · Sep 15, 2022
For modern reliability

• 2014 Mustang: As the final year of the fifth generation, it's a highly refined and reliable model with a decade of improvements, including better paint and a perfect reliability score from Consumer Reports. 
• 2005-2014 Mustang (S197 generation): This generation is widely regarded as one of the most reliable, with positive reviews for both the V6 and V8 engines. 

This video discusses the Ford Mustang GT and its performance over the years: 57sAutotraderYouTube · Jan 30, 2025
For classic performance

• 1969 Shelby GT500 Cobra Jet: A rare and iconic muscle car known for its powerful 428 cubic-inch V8 engine and distinctive styling. 
• 1965 Shelby GT350: Considered by many to be one of the best sports cars of all time, this track-focused version of the Mustang featured a potent 289 cubic inch V8 engine. 

For modern performance

• 2011-2014 Mustang GT: Marks the debut of the modern 5.0L "Coyote" V8 engine, offering impressive horsepower that's still competitive today. 
• 2015-2020 Shelby GT350/GT350R: Features the unique and high-revving "Voodoo" 5.2-liter flat-plane crank V8, along with track-focused suspension and aero enhancements. 
• 2018-2024 Mustang GT: Offers more power than earlier models, a 10-speed automatic transmission option, and a more advanced MagneRide suspension on some trims. 

For a balance of modern and classic

• 1967-1970 Mustang Coupe: A great entry point into classic Mustangs, offering a classic look and a lot of bang for the buck compared to other vintage models. 

How much should a used Mustang cost?

Depending on vehicle details such as the model, year and condition - the average used Ford Mustang sells for $26,790 in the current market, which is -3.74% lower than the average used car. Recent used model years of the Ford Mustang are currently priced at an average of $25,387, according to our used car price index.

How much is a second hand Mustang?

A used Ford Mustang can cost anywhere between £22,400 to £64,000. Price varies depending on the year, version, mileage and overall condition of the car.