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By Colin Ryan
Updated January 30, 2025
The 2021 Ford Mustang is more than just a car. It’s a high point in American automotive culture. That’s been true for many (though not all) Mustangs throughout the years.
When someone buys a Mustang, in coupe or convertible form, they’re participating in a heritage while also driving the name into a thrilling future. The Mustang feels special, bringing a sense of occasion every time you jump in, even if you’re just going to pick up the dry cleaning.
There are rivals, specifically the Chevrolet Camaro and Dodge Challenger. But the fixed-roof Mustang is among the best-selling coupes in the world.
The 2021 Mustang spans a power gamut from a peppery 310-horsepower EcoBoost model to a breathtaking 760-horsepower Shelby GT500 supercar.
The Kelley Blue Book Fair Purchase Price for any individual used vehicle can vary greatly according to mileage, condition, location, and other factors, but here's a general idea of what buyers are currently paying for used 2021 Ford Mustang models when purchasing from a dealership.
Original MSRP | KBB Fair Purchase Price (national avg.) | |||
---|---|---|---|---|
$29,995 | $21,902 | |||
$35,495 | $23,219 | |||
$36,010 | $25,039 | |||
$39,075 | $30,682 | |||
$41,510 | $21,315 | |||
$44,070 | $32,493 | |||
$48,575 | $32,742 | |||
$55,045 | $38,070 | |||
$74,095 | TBD |
For reference, the 2021 Ford Mustang originally had a starting sticker price of $29,995, with the range-topping Mustang Shelby GT500 Coupe 2D starting at $74,095.
Which Model is Right for Me?
Turbocharged 310-horsepower engine
Track Apps performance data
17-inch alloy wheels
Limited-slip differential
Wi-fi
Cloth upholstery
Power-operated fabric top in convertible
18-inch alloy wheels
Dual-zone automatic climate control
Rear parking sensors
Simulated leather upholstery
Power-adjustable front seats
8-inch infotainment touchscreen
Apple CarPlay/Android Auto smartphone integration
460-horsepower V8
Rev-matching manual transmission
Cloth upholstery
Rear parking sensors
18-inch alloy wheels
Leather seating surfaces
Heated/ventilated front seats
Dual-zone automatic climate control
Ambient cabin lighting
Aluminum pedals
480-horsepower V8
Tremec 6-speed manual transmission
Extra engine cooling
MagneRide adaptive dampers
Active exhaust system
Brembo brakes
Torsen limited-slip differential
760-horsepower supercharged V8
7-speed dual-clutch automated transmission
180-mph top speed
Magnesium front strut tower brace
This model year brings the new Mustang Mach 1 model with the same 480-horsepower V8 as last year’s Bullitt version. This car is more track-focused, though, with extra cooling, specific aerodynamic additions, and the MagneRide adaptive suspension.
This sophisticated suspension brings a best-of-both-worlds capability of supple balance between ride quality and handling prowess. And although we are fans of the 6-speed manual transmission, the 10-speed automatic has a fine way of keeping on song whichever engine it’s connected to, so drivers can fully explore that beefy powerband.
As well as truly awesome straight-line performance, the supercharged 760-horsepower 2021 Shelby GT500 also shines on twisty roads or challenging race circuits, enhanced by precise steering and tremendous stopping power.
Slightly down the pecking order, but probably more suitable for the average gearhead, is the Mustang GT version enjoying 460 horsepower from a 5.0-liter V8 whose rumble and roar is pure Americana. It can also sprint from standstill to 60 mph in under four seconds. Only a few years ago, that kind of acceleration was the preserve of exotic supercars. Heck, even the 4-cylinder turbocharged EcoBoost can handle the charge in under five seconds.
For front occupants, the Ford Mustang is roomy enough, and most of the controls are easily reached. Where they’re fitted, the Recaro seats are super-snug. In regular versions, rear accommodation is tight. The Shelby model allows buyers to ditch them completely to save weight. One cool little touch in the Mach 1 is the cue ball manual transmission shift knob.
Rear three-quarter vision in any Mustang coupe is impeded by the wide pillars and sloping roof. Blind spots are also a liability when the convertible’s fabric roof is in place. Speaking of soft tops, a latch at the top of the windshield must be released before the power-folding mechanism does its work.
Trunk space is useful — the coupe comes with 13.5 cubic feet; the convertible has 11.4. The rear seats can also split and fold.
The optional digital dash is cool. It reconfigures itself according to which drive mode is selected and is highly customizable.
Never have go-faster stripes been more desirable or visually effective. They’re optional, but should be obligatory on a new Mustang coupe to make the most of that classic long-nose/short-tail profile. They look especially evocative with the white/blue or blue/white combination in the Shelby GT500.
As well as riding on standard-issue 19-inch alloy wheels, the new-for-2021 Mustang Mach 1 offers satin black stripes for the hood and sides, enlivened by red, orange or white highlights.
No such largesse with convertible Mustangs — the fabric roof is always black. New colors for the regular, GT, and Shelby Mustangs are Antimatter Blue, Carbonized Gray, Fighter Jet Gray, and Grabber Yellow.
SYNC 3
This infotainment system performs impressively through an 8-inch touchscreen or voice activation. It includes Apple CarPlay and Android Auto integration, plus FordPass apps allowing users to start, lock, and locate their Mustang with a smartphone.
REV-MATCHING TECHNOLOGY
The future of the manual transmission is possibly bleak, but there are still some thrills to squeeze out of it. Especially when the GT’s 6-speed manual has rev-matching technology that performs smooth, throttle-blipping downshifts. For a driver to reach such a level of perfection might have taken many months, perhaps years, of heel-toe practice.
The most affordable 2021 Mustang EcoBoost Fastback has a push-button start, 17-inch alloy wheels, high-intensity-discharge (HID) headlights, 4-way manually adjustable driver’s seat, selectable settings for the steering (Comfort/Normal/Sport), Track Apps displaying performance parameters such as lateral acceleration, and a line-lock feature to spin the rear wheels (to warm up the tires on the track, as opposed to impressing friends in the parking lot). The basic infotainment setup includes AM/FM radio, CD player, wi-fi, Bluetooth, 4-inch display, and two USB ports. This year sees a whole array of driver assistance features fitted as standard.
Premium trim brings the Sync 3 infotainment system, 18-inch alloy wheels, rear spoiler, and dual-zone automatic climate control. Mustang GT versions have that glorious 5.0-liter V8 and stronger brakes.
A new Mustang can be ordered with many options. Such as ventilated front seats, Bang & Olufsen 12-speaker/1,000-watt audio, 10-speed automatic transmission, leather-covered Recaro sport seats, sport exhaust system, bigger wheels, performance/handling packages, and MagneRide adaptive dampers. Buyers may also choose how much power they’d like.
A new Safe and Smart package (for trims up to and including GT Premium) adds adaptive cruise control, navigation, and satellite radio. The two lower trims qualify for a High Performance package bringing suspension upgrades, limited-slip differential, and a 332-horsepower engine.
The Shelby GT500 gains a new Carbon Fiber Handling Package that includes several aerodynamic additions and 20-inch wheels, all made from carbon fiber, plus adjustable strut top mounts.
Purists may scoff at a 4-cylinder engine in a Ford Mustang, but the turbocharged 2.3-liter unit in the EcoBoost versions makes a respectable 310 horsepower. The High Performance package boosts that to 332.
However, a growling V8 seems so right. Mustang GT models have a 5.0-liter unit developing 460 horsepower; the new Mach 1 Mustang takes that engine and ramps output up to 480 horsepower.
The Shelby GT500 bolts on a supercharger for an astonishing 720 horsepower. This drivetrain also features a 7-speed dual-clutch automated transmission.
The EcoBoost comes with a 6-speed manual transmission; the GT’s and Mach 1’s manual ’boxes include the rev-matching function. A 10-speed automatic transmission with paddle shifters is optional in the EcoBoost and GT Mustangs. All models are rear-wheel-drive (RWD).
These EPA figures are from 2020, but we expect the 2021’s to be the same. .
2.3-liter turbocharged inline-4
310 horsepower @ 5,500 rpm
332 horsepower @ 6,000 rpm (High Performance Package)
350 lb-ft of torque @ 3,000 rpm
EPA city/highway fuel economy: 21/30 mpg (manual), 21/32 mpg (automatic), 20/28 mpg (manual/automatic, convertible), 20/27 mpg (manual, coupe w/High Performance Package), 20/28 mpg (automatic, coupe w/HPP), 19/26 mpg (manual, convertible w/HPP), 20/27 mpg (automatic, convertible w/HPP)
5.0-liter V8 (GT)
460 horsepower @ 7,500 rpm
420 lb-ft of torque @ 4,600 rpm
EPA city/highway fuel economy: 15/24 mpg (manual, coupe), 16/25 mpg (automatic, coupe), 14/23 mpg (manual, convertible), 15/24 mpg (automatic, convertible)
5.0-liter V8 (Mach 1)
480 horsepower @ 7,000 rpm
420 lb-ft of torque @ 4,600 rpm
EPA city/highway fuel economy: 14/22 mpg
5.2-liter supercharged V8 (GT500)
760 horsepower @ 7,300 rpm
625 lb-ft of torque @ 5,000 rpm
EPA city/highway fuel economy: 12/18 mpg
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 | - | $33,286 | $30,669 | ||
2023 | $7,006 | $26,280 | $23,832 | ||
2024 | $4,393 | $21,887 | $19,663 | ||
Now | $2,444 | $19,443 | $17,484 |
Unlock Forecast
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 | 3515 lbs. | ||
---|---|---|---|
EPA Passenger | 82.8 cu.ft. | ||
EPA Total Interior | 96.4 cu.ft. | ||
Fuel Capacity | 15.5 gallons | ||
Front Head Room | 37.6 inches | ||
Front Leg Room | 45.1 inches | ||
Max Seating Capacity | 4 | ||
Overall Length | 188.5 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 | ||
Width with mirrors | 81.9 inches |
Alloy Wheels | Available | ||
---|---|---|---|
Number of Doors | 2 doors | ||
LED Headlights | Available | ||
Rear Spoiler | Available |
City | 21 mpg | ||
---|---|---|---|
Highway | 32 mpg | ||
Combined | 25 mpg |
Drivetrain | RWD | ||
---|---|---|---|
Transmission Type | Automatic | ||
10 speed | Available | ||
Recommended Fuel | Premium | ||
Hill Start Assist | Available | ||
Limited Slip Differential | Available |
Horsepower | 310 @ 5500 RPM | ||
---|---|---|---|
Torque | 350 @ 3000 rpm | ||
Engine | 4-Cyl, Turbo, EcoBoost, 2.3 Liter |
Basic | 3 years / 36000 miles | ||
---|---|---|---|
Powertrain | 5 years / 60000 miles | ||
Corrosion | 5 years / Unlimited miles |
Electronic stability control
This keeps the Mustang going in the desired direction. But it’s not just a blanket system for the whole range. The sportier models allow some leeway for driver input and to get the tail in a controlled slide.
Ford Co-Pilot360
Newly standard in every 2021 Mustang. This is an overall term from a set of driver assistance features consisting of forward-collision warning with pedestrian detection and automatic emergency braking, dynamic brake support, blind-spot monitoring, lane-keeping assistance, rain-sensing wipers, and automatic high beams.
Four-wheel disc brakes
Not quite so ho-hum as the heading suggests. The basic models have basic setups, admittedly, with larger front discs in V8-powered versions. But in the Mach 1 and Shelby GT500 models, the braking systems come from Brembo, suppliers to companies like Ferrari.
Used 2021 Ford Mustang | Used 2021 Hyundai Veloster | Used 2021 Chevrolet Camaro | Used 2021 Dodge Challenger | ||
---|---|---|---|---|---|
Price | $21,902 | $17,447 | $22,775 | $26,468 | |
KBB.com Rating | 4.5 | 3.7 | 4.1 | 3.6 | |
Consumer Rating | 4.6 | 4.2 | 4.0 | 4.7 | |
Fuel Economy | City 21/Hwy 32/Comb 25 MPG | City 27/Hwy 34/Comb 30 MPG | City 19/Hwy 29/Comb 22 MPG | City 16/Hwy 25/Comb 19 MPG | |
Fuel Type | Gas | N/A | N/A | N/A | |
Safety Rating | 5.0 | N/A | 5.0 | 4.0 | |
Seating Capacity | 4 | 4 | 4 | 5 | |
Basic Warranty | 3 years or 36000 miles | 5 years or 60000 miles | 3 years or 36000 miles | 3 years or 36000 miles | |
Horsepower | 310 @ 5500 RPM | 147 @ 6200 RPM | 275 @ 5600 RPM | 372 @ 5200 RPM | |
Engine | 4-Cyl, Turbo, EcoBoost, 2.3 Liter | 4-Cyl, 2.0 Liter | 4-Cyl, Turbo, 2.0 Liter | V8, HEMI, MDS, 5.7 Liter | |
Drivetrain | RWD | FWD | RWD | RWD |
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Yes, the 2021 Ford Mustang is a good car, as reflected by its above-average Kelley Blue Book rating of 4.5 out of 5.
2021 Ford Mustang city/highway fuel economy ratings range from 12/18 mpg to 21/32 mpg, depending on trim and equipment.
Used 2021 Ford Mustang prices currently range from $21,902 for the Shelby GT500 Coupe 2D to $38,070 for the Mach 1 Coupe 2D when purchasing from a dealership, depending on a range of factors like equipment, mileage, and condition.
The cheapest 2021 Ford Mustang is the Shelby GT500 Coupe 2D, with a Kelley Blue Book Fair Purchase Price of $21,902.
The 2021 Ford Mustang is part of the 6th-generation Mustang, which our owners give an above-average reliability rating of 4.7 out of 5.