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Shoppers looking for a classic American pony coupe or convertible can’t go wrong with the Mustang. But even if you aren’t trying to release your inner Steve McQueen, the Mustang offers up a good-looking car with lots of creature comforts, and even decent fuel economy, for a reasonable price.
Besides the I’d-rather-push-a-Chevy crowd, anybody looking for 5-passenger seating – or just a comfortable rear seat – should skip the Ford Mustang and consider a larger car like the Dodge Challenger. And while there are Shelby versions waiting in the wings, the 707-horsepower Challenger Hellcat dominates the horsepower wars.
In addition to three new option packages – the Mustang GT California Special Package, Mustang EcoBoost Pony Package, and the Performance Package for the Mustang GT Convertible – there’s the 2016 Mustang Shelby GT350. Mustang Premium models get the new Ford Sync 3 system.
After successfully reinventing its iconic Mustang last year, the 2016 Ford Mustang adds three option packages, plus the much-anticipated Mustang Shelby GT350 to the lineup, including the Shelby GT350R race car. But don’t let the nostalgia-seeped styling and history fool you, as the 2016 Mustang is a thoroughly modern sports coupe, with an independent rear suspension, a choice of engines including a fuel-sipping turbocharged 4-cylinder, comfortable and upscale interior, and all the high-tech amenities and features you’d expect from a 21st-century car. But don’t worry; everything that makes the Mustang coupe and Mustang convertible classics is here: a growing V8 engine, rear-wheel drive and multiple performance versions. It’s more than just a competitor for the Chevrolet Camaro and Dodge Challenger; it’s why those cars exist.
2016 Ford Mustang pricing starts at $14,721 for the Mustang V6 Coupe 2D, which had a starting MSRP of $26,240 when new. The range-topping 2016 Mustang Shelby GT350R Coupe 2D starts at $33,703 today, originally priced from $62,195.
Original MSRP | KBB Fair Purchase Price (national avg.) | |||
---|---|---|---|---|
$26,240 | $14,721 | |||
$27,740 | $14,669 | |||
$31,740 | $13,320 | |||
$31,740 | $15,322 | |||
$34,490 | $21,938 | |||
$37,240 | $13,610 | |||
$39,780 | $25,720 | |||
$46,075 | $20,918 | |||
$55,195 | $35,436 | |||
$62,195 | $33,703 |
The Kelley Blue Book Fair Purchase Price for any individual used vehicle can vary greatly according to mileage, condition, location, and other factors. The prices here reflect what buyers are currently paying for used 2016 Ford Mustang models in typical condition when purchasing from a dealership. These prices are updated weekly.
With an independent rear suspension for the first time in its history, the new Ford Mustang coupe and Mustang convertible finally handle like a modern car. But not only is it more nimble than its solid-axle predecessors, it’s just better in day-to-day driving, with a smoothed-out ride that has none of the jittery rear-end motions the old car had. Whether you choose the V6, new EcoBoost 4-cylinder or (obviously) the V8, all Mustang models are notably quick. However, it’s the last of these that truly sounds like a Ford Mustang should, with an auditory rumble and roar that’s pure Americana. If you opt for the 6-speed manual, you’ll enjoy the short throws and solid feel that make this a solid choice for enthusiasts. If you instead prefer the 6-speed automatic, you can still pick your own gears with paddles mounted on the steering wheel.
While all 2016 Mustang models get a coolly retro-yet-modern interior style, Premium Mustang models justify their added cost with better materials and features. All Mustangs offer easy-to-reach audio and climate controls, sturdy switches and comfortable front seats. The two small rear seats are meant for short-term use, especially considering the poor headroom in coupes. On the other hand, the trunk is bigger than you might expect – 13.5 cubic feet in coupes, 11.4 in convertibles – and the rear seats fold flat to accommodate longer items. The Mustang convertible uses a one-hand release latch for the power-operated soft top.
With its long hood, short trunk, sloping rear glass and tri-bar taillights, the 2016 Ford Mustang could never be mistaken for anything other than Ford’s pony car. Yet this is no throwback, as the sleek lines, aggressive headlights and windswept design prove. Gone is the bulkiness of the previous design, replaced with a lower, wider-looking car that, from most angles, is beautiful. Convertibles look best with the lined and insulated fabric top folded, but even when up it’s still unmistakably Mustang. On the functional end, the active grille shutters on 2.3-liter models can close to redirect airflow, improving aerodynamics.
SAFETY SYSTEMS
Modern cars are about having it all, and anyone buying a new Mustang will find a classic pony car built with all the latest safety systems. Whether it’s blind-spot monitoring or forward-collision alert, it’s as modern as you’d want.
IT’S BURNOUT-READY
On the other hand, if you’re looking at a new Mustang 5.0, Ford is so sure you want to burn rubber that it’s equipped all 2016 Mustang GTs with the "line-lock" mode that locks the front brakes for standing burnouts. Manual-transmission GT models also include launch control for maximum acceleration.
The base Mustang V6 comes nicely equipped, with push-button start, 6-speaker AM/FM/CD audio with an auxiliary input, rearview camera, Ford’s Sync communication and entertainment system, high-intensity headlights, 17-inch wheels, and selectable-effort power steering. Also standard on all Mustangs is Track Apps, which displays performance metrics such as acceleration times. Opt for an EcoBoost model and you’ll get the 2.3-liter turbocharged 4-cylinder engine, plus 6-way-power front seats and 18-inch wheels. GT models include the 5.0-liter V8, 19-inch wheels, the line-lock feature, and launch control on manual-transmission models.
In addition to this year’s new option packages, there are multiple ways to make your new Mustang perform better, be more comfortable or simply look better. Upgrades for the base V6 models include a 6-speed automatic transmission, power front seats, parking sensors and 18-inch wheels. There’s a 12-speaker Shaker audio system, navigation, leather seats and safety features such as blind-spot monitoring and forward-collision alert available for EcoBoost and top-line GT models. Adaptive cruise control is also now available on Ford’s 4-seat performance car, as are heated and cooled front seats and performance packages.
Three engines are available for the 2016 Mustang, and none is a loser. The base V6 Mustang comes with Ford’s 300-horsepower 3.7-liter V6, while the top-line GT uses a 435-horsepower 5.0-liter V8. The newest member of the Mustang engine family is a 2.3-liter turbocharged 4-cylinder that produces 310 horsepower. Not only does it out-muscle the V6, it’s also the most fuel-efficient Mustang engine, with up to 32 mpg. All Mustangs are rear-wheel drive and can be fitted with a 6-speed manual or 6-speed automatic transmission. The Shelby GT350 is in its own class with a 5.2-liter flat-plane V8 putting out 526 horsepower, coming connected solely to a 6-speed manual transmission.
3.7-liter V6
300 horsepower @ 6,500 rpm
280 lb-ft of torque @ 4,000 rpm
EPA city/highway fuel economy: 17/28 mpg (manual), 19/28 mpg (automatic)
2.3-liter turbocharged inline-4
310 horsepower @ 5,500 rpm
320 lb-ft of torque @ 3,000 rpm
EPA city/highway fuel economy: 22/31 mpg (manual), 21/32 mpg (automatic)
5.0-liter V8
435 horsepower @ 6,500 rpm
400 lb-ft of torque @ 4,250 rpm
EPA city/highway fuel economy: 15/25 mpg (manual), 16/25 mpg (automatic)
5.2-liter V8 (GT350)
526 horsepower @7,500 rpm
429 lb-ft of torque @ 4,750 rpm
EPA city/highway fuel economy: NA
Get 5.9% APR for 60 mos. Ford Credit Financing on a new 2025 Ford Mustang.
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Year | Vehicle Depreciation* | Resale Value | Trade-In Value | ||
---|---|---|---|---|---|
2022 | + $3,313 | $18,661 | $17,913 | ||
2023 | $3,320 | $15,341 | $14,444 | ||
2024 | $2,963 | $12,378 | $10,590 | ||
Now | $1,509 | $10,869 | $9,356 |
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2-Year Forecasted Depreciation
*Depreciation for the last 12 months of the private party resale value.
Annual Depreciation is an estimation of what your vehicle's value might be over time based on an average of similar vehicles. Estimations are calculated by comparing Kelley Blue Book Private Party Values of vehicles similar to yours over time, as well as forecasts from Manheim Auction data comparing current and projected auction values against current Kelley Blue Book Private Party and Trade-In Values. This is not a guarantee of actual depreciation. Local weather conditions, market factors and driver performance will also impact your vehicle's actual depreciation.
Already Own This Car?
Curb Weight | 3526 lbs. | ||
---|---|---|---|
EPA Passenger | 84.5 cu.ft. | ||
EPA Total Interior | 98.0 cu.ft. | ||
Fuel Capacity | 16.0 gallons | ||
Front Head Room | 37.6 inches | ||
Front Leg Room | 44.5 inches | ||
Max Seating Capacity | 4 | ||
Overall Length | 188.3 inches | ||
Front Shoulder Room | 56.3 inches | ||
Towing Capacity, Maximum | 1000 lbs. | ||
Trunk or Cargo Capacity | 13.5 cu.ft. | ||
Turning Diameter | 36.5 feet | ||
Wheel Base | 107.1 inches |
Alloy Wheels | Available | ||
---|---|---|---|
Fog Lights | Available | ||
HID Headlights | Available | ||
Number of Doors | 2 doors | ||
Rear Spoiler | Available |
City | 19 mpg | ||
---|---|---|---|
Highway | 27 mpg | ||
Combined | 22 mpg |
Drivetrain | RWD | ||
---|---|---|---|
Transmission Type | Automatic | ||
6 speed | Available | ||
Recommended Fuel | Regular | ||
Limited Slip Differential | Available | ||
Parking Assist System | Available |
Horsepower | 300 @ 6500 RPM | ||
---|---|---|---|
Torque | 280 @ 4000 rpm | ||
Engine | V6, 3.7 Liter |
Basic | 3 years / 36000 miles | ||
---|---|---|---|
Powertrain | 5 years / 60000 miles | ||
Corrosion | 5 years / Unlimited miles |
Used 2016 Ford Mustang | Used 2020 Hyundai Veloster | Used 2016 Honda Accord | Used 2016 Subaru BRZ | ||
---|---|---|---|---|---|
Price | $14,721 | $12,649 | $13,071 | $13,027 | |
KBB.com Rating | 4.7 | 4.4 | 4.7 | 4.7 | |
Consumer Rating | 4.6 | 4.2 | 4.4 | 4.6 | |
Fuel Economy | City 19/Hwy 27/Comb 22 MPG | City 27/Hwy 34/Comb 30 MPG | City 26/Hwy 35/Comb 30 MPG | City 22/Hwy 30/Comb 25 MPG | |
Fuel Type | Gas | Gas | Gas | Gas | |
Safety Rating | 5.0 | N/A | 5.0 | 5.0 | |
Seating Capacity | 4 | 4 | 5 | 4 | |
Basic Warranty | 3 years or 36000 miles | 5 years or 60000 miles | 3 years or 36000 miles | 3 years or 36000 miles | |
Horsepower | 300 @ 6500 RPM | 147 @ 6200 RPM | 185 @ 6400 RPM | 200 @ 7000 RPM | |
Engine | V6, 3.7 Liter | 4-Cyl, 2.0 Liter | 4-Cyl, i-VTEC, 2.4 Liter | 4-Cyl, 2.0 Liter | |
Drivetrain | RWD | FWD | FWD | RWD |
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Yes, the 2016 Ford Mustang is a good car, as reflected by its above-average Kelley Blue Book rating of 4.7 out of 5.
2016 Ford Mustang city/highway fuel economy ratings range from 14/21 mpg to 21/32 mpg, depending on trim and equipment.
Used 2016 Ford Mustang prices currently range from $14,721 for the V6 Convertible 2D to $35,436 for the Shelby GT350 Coupe 2D when purchasing from a dealership, depending on a range of factors like equipment, mileage, and condition.
The cheapest 2016 Ford Mustang is the V6 Convertible 2D, with a Kelley Blue Book Fair Purchase Price of $14,721.
The 2016 Ford Mustang is part of the 6th-generation Mustang, which our owners give an above-average reliability rating of 4.7 out of 5.