Here’s What A 5-Year-Old Mustang Commands In Today’s Market

A brand spankin’ new 2026 Ford Mustang starts at just $34,315, which is an amazing price for a 315-horsepower ride that looks that hot. Of course, if you’re in the market for some serious V-8 performance, especially the completely bonkers Dark Horse, it’s going to take substantially more to put one in your driveway. The good news for the budget muscle car enthusiast is that a used Mustang can help you pull some Gs for far less Gs in an iconic American muscle car.

Base Trim Engine

2.3L Turbo Inline-4 Gas

Base Trim Transmission

6-Speed Manual

Base Trim Drivetrain

Rear-Wheel Drive

Base Trim Horsepower

310 hp

Base Trim Torque

350 lb-ft @ 3000 rpm

Fuel Economy

21/30 MPG

Make

Ford

Model

Mustang Coupe

Segment

Sports Car

The 2020 Mustang was already affordable, and on the used market, those savings continue, from the base model up to high-performance trims. In another bit of good fortune, Ford is a rock-solid brand, so a five-year-old Mustang is going to drive like it did when it first left the dealer lot. It may be tempting to take advantage of the reasonably priced 2026 entry-level ‘Stang, but for the same amount of cash, it’s possible to get a radical power upgrade with a used 2020 model.

2020 Ford Mustang Used Prices

You Can Get One For Under $25,000

Ford

The 2020 Mustang was in the midst of its sixth generation with arguably one of the best and most attractive body styles since its inception. In reality, the seventh-gen, launched in 2024, isn’t that much different when you consider the ’65 GT and ’71 SportsRoof with that elongated hood are both first-generation Mustangs, but don’t even look like they came from the same manufacturer. The 2020 ‘Stang was available as a two-door fastback coupe and convertible, with the base model starting at the paltry sum of just $29,460. If you remember, 2020 was the COVID-19 pandemic, when people went crazy buying cars with that government stimulus money, and many pounced on the super-affordable Mustang, so there’s a ton of used stock out there.

2020 Mustang Average Retail Prices

Mustangs generally hold their value fairly well, and the 2020 is no different, but a low-mileage, great-condition base-model EcoBoost seems extremely cheap with an average J.D. Power retail price of barely over $24,000. Add a couple of grand for the convertible and just a bit more for the EcoBoost Premium, which doesn’t bring any performance but has nicer features.

With most models, the entry-level is kind of a dud, but the 2020 Mustang EcoBoost is a monster right out of the gate. The standard 2.3-liter turbocharged inline-four cranks out 310 horsepower and 350 pound-feet of torque, plus has a six-speed manual transmission option. A 1969 Mustang Boss 302 only produced 290 ponies and that wasn’t even the base model that year, so there ain’t nothin’ wrong with a ’20 EcoBoost.

2020 Mustang GT High-Performance Value

Ford

While the 2020 Mustang EcoBoost is more than enough power for most people, there is a certain segment of the population that needs the adrenaline rush that comes with a high-performance GT. Equipped with Ford’s miracle Modular 5.0-liter Coyote V-8, the GT explodes with 460 horsepower and 420 pound-feet of torque. That’s not quite the 500 ponies of the 2026 Dark Horse, but then again, it’s close enough and for much less money. The average price paid for a 2020 Mustang GT is only $34,325, which is around what a new ’26 base model goes for. The GT Premium is a bit more expensive at $35,375, but still extremely affordable considering all the extras it comes with.

2020 Mustang GT Power And Performance

With the optional performance package, just about everything is upgraded from the brakes to the tires, and with the GT Premium, there are a lot of extra luxuries. That said, standard features for an “entry-level’ GT include:

• 18-inch wheels
• Bigger brake rotors
• Four‑piston front calipers
• Dual exhaust
• Engine oil cooler
• Decklid spoiler

Either trim has the same performance, which, by the way, is intense, as this is a bona fide 12-second car with a top speed of over 150 MPH. Greatest of all, the six-speed manual is standard, so unleashing all the power is an even bigger blast. For $35,000ish, it’s hard to beat the fun-to-price ratio of the 2020 Mustang GT and, again, you can find cars that are practically in showroom condition for that money.

2020 Mustang Special Editions

Car Buzz

Technically, the 2020 Mustang Bullitt is the top trim, but these cars have been special editions in the past, like in 2001, 2008-2009, and obviously, 2019-2020. The car is a tribute to the Highland Green 1968 Mustang GT that Steve McQueen chased down a ’68 Charger R/T in the classic action flick Bullitt. The Bullitt has the same 5.0-liter V-8 as the GT, and with a few mods, produces 20 more horsepower, but isn’t any quicker in the quarter-mile or 0-60 times. It is, however, substantially more expensive on the used market, with an average retail price of $43,150, which is almost ten grand more than the GT. If you are a huge fan of the greatest car chase in cinematic history, the Bullitt might be for you, but you can still appreciate the movie and drive a GT for a lot less.

Mustang Special Edition Used Price Range

Possibly worth the extra dough for an adrenaline junkie is the 2020 Mustang Shelby GT350 and GT350R, packing a 5.2-liter naturally aspirated Voodoo V-8 that jams out 526 horsepower and 429 pound-feet of torque. Or, for the truly insane, there is the Shelby GT500 with a 760-horsepower turbocharged 5.2-liter V-8, capable of a quarter-mile in the 10s and a top speed of 180 MPH. Of course, none of these fall into the budget car category, but with the level of performance they provide, used prices aren’t bad. A 642-mile GT350 sold on Bring a Trailer for $76,998, which is substantially higher than its $59,140 original MSRP. The same is true for the GT350R and GT500 in that they are actually going up in value, so they are not the bargains you are looking for.

American Muscle’s Best Value

Ford

Finding a car’s value can deliver results that are all over the place, with J.D. Power basing its prices on actual sales, while Hagerty, which covers mostly classics, gives a more theoretical number. Kelley Blue Book kind of splits the difference, taking into account real-world sales and factoring in depreciation, to come up with a number that you should pay for a car, which they call the “Fair Purchase Price.” The J.D. Power prices on a 2020 Mustang are quite good, but going by KBB, they’re practically giving these amazing rides away. The bottom line when purchasing any used vehicle is to do the research and the legwork, because great deals are out there for anyone willing to work for it.

2020 Mustang Kelley Blue Book Values

With a little perseverance, the KBB-priced Mustangs can be had. Taking home a 2020 EcoBoost Premium for the price of a new 2025 Hyundai Venue is going to put a smile on your face that will never go away. The very idea of landing a Mustang GT or GT Premium in the $30,000 or under range is enough to keep your tank filled with joy for the rest of your life. Even the top-end high-performance models have tantalizing KBB Fair Purchase Prices, and they wouldn’t publish these numbers if they were unrealistic. Kelley Blue Book is the most respected name in used car values, so if they say a 2020 Ford Mustang EcoBoost is worth $17,907, that’s how much it’s worth. Again, it may take a little digging to find that car, but it is out there waiting for you.