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Ford Mustang and Mustang GT 1994-2014: What is My Car Worth?

A Ford Mustang that is well-maintained could fetch an attractive trade-in value.

By Charlie Gaston - September 23, 2015

This article applies to the Ford Mustang and Mustang GT (1994-2014).

Let's face it, the 1994 to 2014 Ford Mustang is a popular vehicle that is capable of attracting a good number of interested buyers, particularly if the asking price is competitive. While you can expect to fetch a competitive asking price for any Mustang that has been properly maintained, the truth is you could also expect to increase your asking price if you've recently made high-value modifications or upgrades on the vehicle. For instance, if you've mounted expensive brand name rims to your tires or installed racing seats, you could reasonably expect a smart buyer to shell out a little more for your Mustang. Let's take a look at how much your Mustang is worth and what you can do to increase its value.

Ford Mustang

Tips For Raising the Value of a Ford Mustang

If you're selling an old Ford Mustang, you could expect to collect more if you've made recent modifications on the vehicle or installed a popular upgrade, such as new racing seats or a brand name stereo system. Another selling point that is sure to work in your favor is having maintained your vehicle's general maintenance schedule throughout the years. Most buyers rate a consistent service history as "highly favorable" when deciding whether to purchase a used vehicle. As well, a vehicle with very low mileage will net a slightly higher price than one that is saddled with high mileage.

Figure 1. This is the engine in a 1996 Ford Mustang.

Ford Mustang GT

  • You could reasonably expect to fetch $10,000 to $12,000 for a well-maintained 2003 Ford Mustang GT with approximately 50,000 miles on it.
  • Kelley Blue Book values this model year at around $10,805; however, the vehicle must be in good shape to net its full value.
  • For a trade-in, you could expect to receive around $13,700 at the dealership.
  • For a 1999 Ford Mustang GT with moderate gas mileage, you could attract a buyer for around $5,643; however, attempting to go any higher could result in fewer interested buyers.
  • For a 1995 Ford Mustang GT with moderate gas mileage, you could expect to net around $5,500 to $6,000 from a private dealer.
Figure 2. This is a 2003 Ford Mustang GT.

Cobras

The best trade-in and private sell values will come with newer model Ford Mustangs and the Mustang SVT Cobra, which is sure to undoubtedly benefit from its many high-performance parts. For a 2003 Cobra, you could expect to get as much as $15,000, and that is including approximately 80,000 miles on the engine. Supercharged convertibles are highly popular, particularly when maintained. These are considered best sellers, and can net an attractive market value for the owner.

Figure 3. This is a 2014 Cobra.

Common Questions

What determines the value of a Ford Mustang?

The value of a Ford Mustang is determined in a number of ways, including, but not limited to, the amount of mileage on the vehicle, the overall quality of the vehicle and whether the vehicle has been properly maintained, which can be verified using the vehicle's service history report.

How can I tell what my Ford Mustang is worth?

One of the most trusted ways to determine the value of a Ford Mustang is to run the model year against the Kelley Blue Book database. You will need to provide your zip code as well as make a determination about the overall condition of the vehicle (e.g., fair, good, excellent).

What is the best way to improve the value of a Ford Mustang?

The best way to improve (or at least maintain) the value of a used Ford Mustang is to properly maintain the vehicle. This includes keeping your fluids clean and topped up at all times. Adding a new brake system (if needed), mounting new tires, and adding a fresh coat of paint could also drive up your asking price without costing you too much in repairs.

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