Used Ford Mustang for Sale nearElliot Lake, ON

How much does the Ford Mustang cost in today's market?

Used Ford Mustang prices span a wide range depending on model year. Here's what the market looks like right now:

The Ford Mustang's current nationwide average price is $36,101 CAD, and its nationwide average price reached a low of $35,841 CAD over the past year.

Recently, prices have come down for the 2023, 2024, and 2025 models, making now a good time to shop recent model years.

Is the Ford Mustang a good car?

Yes — the Ford Mustang is a strong choice if you want a used performance car with broad appeal and a clear enthusiast identity. The all-generations owner rating is 4.62/5 across every model year in the data.

Owners consistently praise the Mustang for its powerful performance, fun driving experience, and iconic styling. Many also highlight the variety of engine choices, the sound of the V8s, and the car’s engaging handling.

Expert reviews rate the 2018 and 2020 models among the highest across all years.

The main trade-offs across recent expert-tested years centre on a cramped back seat, limited cargo space, and a noisy cabin.

30.1% of listings are priced as good or great deals.

Are Ford Mustang models reliable?

Owners and experts consistently praise the Mustang for its performance, styling, and driving enjoyment. Across the years in the data, it also earns strong marks for fun-to-drive character and broad engine choice.

• Owners rate the Ford Mustang between 4.42 and 5.0 out of 5 stars across all model years in the data.

For used buyers, long-term ownership risk is best managed by checking service history carefully and focusing on well-maintained examples, especially where the data points to powertrain or transmission concerns.

What should I look for when buying a used Ford Mustang?

Key things to evaluate:

• Fuel efficiency: The 2024 Mustang’s Natural Resources Canada estimates are 10.8 litres per 100 kilometres in the city, 7.1 on the highway, and 9.2 combined for the EcoBoost, 11.1/8.2/9.8 with the Performance Pack, 15.8 L/100 km city, 9.8 hwy, and 13.1 combined for the V8 with the automatic transmission, and 16.6/10.2/13.8 with the manual.

Which Ford Mustang trim should I buy?

The 2024 Ford Mustang offers these trims:

• EcoBoost: The entry engine is the 2.3-litre turbo four-cylinder with 315 horsepower and 350 pound-feet of torque, paired with a 10-speed automatic; it suits buyers who want the most accessible way into the Mustang.
• GT: The 5.0-litre V8 brings 480 hp and 415 lb-ft, plus a standard six-speed manual and available 10-speed automatic; it is the best-value trim for shoppers who want the classic muscle-car experience.
• Dark Horse: At the top of the range, this trim produces 500 hp and adds several performance enhancements for buyers who want the most serious factory performance.
• EcoBoost with High Performance package: This version adds a Torsen limited-slip differential, leather steering wheel, and upgraded Brembo brake calipers, making it a strong choice if you want sharper handling from the four-cylinder car.
• GT Premium Convertible: This trim combines V8 power with open-air driving and is the right pick if you want the GT experience in convertible form.

What Ford Mustang do most buyers choose?

The Ford Mustang years with the most listings are 2024, 2025, and 2023.

These higher-volume years tend to attract more shoppers because they offer a wider selection of trims, powertrains, and price points. They also give you a better chance of finding the configuration you want at a deal-friendly price.

What is the Ford Mustang's resale value?

Most Mustang model years in the table are down year over year, which can work in your favour if you are shopping used. A few newer years are moving up slightly, showing that demand remains strong for recent examples. Overall, the pattern points to better value on many older and mid-cycle model years while the newest ones continue to command firmer prices.

The 2022, 2021, and 2024 model years have held their value best, with the smallest year-over-year price changes.

Is the Ford Mustang safe?

• 2024: 6/10
• 2020: 7/10
• 2019: 9/10
• 2018: 8/10
• 2015: 9/10
• 2014: 6/10

Standard safety features for all Mustangs include frontal collision warning with automatic emergency braking, lane-keep assist, a blind-spot monitor with rear cross-traffic alert, rear parking sensors, rain-sensing wipers, and automatic high beams.

For the safest used buy, the 2015 and 2019 models both post the highest confirmed score of 9/10.

Should I buy a used Ford Mustang now or wait for the next model?

Buy now if:

• Price trend: The 2025 model is at −23.85% versus a year ago, and the 2024 model is at −2.42%.
• Deal availability: The 2025 model has 36.9% good and great deals, and the 2024 model has 35.5%.
• Sweet-spot year: The 2024 model has the most listings at a current average price of $51,982 CAD. The Ford Mustang offers iconic styling and a strong performance character that has made it a long-running favourite among enthusiasts.

Consider waiting if:

• Powertrain/efficiency: The latest Mustang’s EcoBoost 2.3-litre turbo four-cylinder produces 315 horsepower and 350 pound-feet of torque, while the GT’s 5.0-litre V8 makes 480 hp and 415 lb-ft, or 486 hp and 418 lb-ft with the optional Active Exhaust system.
• Tech: The latest Mustang comes with a 13.2-inch infotainment touchscreen, a digital instrument cluster, Apple CarPlay, Android Auto, Amazon Alexa integration, and a Wi-Fi hotspot.
• Safety: The latest Mustang adds frontal collision warning with automatic emergency braking, lane-keep assist, a blind-spot monitor with rear cross-traffic alert, rear parking sensors, rain-sensing wipers, and automatic high beams.

If you're buying used today, the 2024 model year offers the best mix of value and availability. If you want the latest tech and features, it may be worth waiting for the next model year's inventory to build up.

These recommendations are based on CarGurus' proprietary market data from September 29, 2026, CarGurus experts' opinions, and generative AI.