2016 Ford Mustang Convertible

Rating8.0

Ranked #1 in Muscle Convertible

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Starting MSRP $29,645 - $35,145
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Key Spec of 2016 Ford Mustang Convertible
fuel economy

17 (Est)/21/28 (Est)

fuel type

Regular Unleaded

horsepower

300 hp @ 6500 rpm

basic warranty

3 yr./ 36000 mi.

ProsConsWhat's New

The turbo engine has more punch but the base engine sounds better

Sluggish performance with the base engine

New optional SYNC 3 infotainment system

Short braking distance

Tight back seats

Old MyFord Touch system dropped

Stable ride and precise steering ability

New Pony Package on the EcoBoost Premium

2016 Ford Mustang Convertible Price, Review, Ratings and Pictures

Updated on: September 12, 2022

Nathan Dyer's image
Nathan Dyer 

Senior Editor

The 2016 Ford Mustang Convertible is a midsize convertible offered in 2 trims, starting off at a base MSRP of $29,645. For that price, it mainly competes with the Chevrolet Camaro Convertible and the Nissan 370Z Convertible which comes from the compact convertible segment and has the highest base price tag among the bunch. Between 2 trims, the Mustang offers 2 powertrains. The base engine is a 3.7L V6 capable of making 300 horsepower and 280 lb-ft of torque. If more power is required, there is also a 310 horsepower-making 2.3L Turbo Inline-4 engine. Both engines are mated to a standard 6-speed manual transmission or an optional 6-speed automatic transmission. The Mustang reaches 60 mph from zero in 6.3 seconds on its base engine, which gets pumped up to 5.7 seconds with the 2.3L Turbo Inline-4 engine. Depending on the powertrain, the Mustang can manage a combined fuel economy between 21 and 24 mpg. While we’re on the topic of choices, the 10 striking colors the Mustang comes in really pull you towards itself.


Trim wise pricing breakdown


NameInvoice PriceMSRPNumber of Listings
2dr Convertible (3.7L 6cyl 6M)$28607$2964512 Listings
EcoBoost Premium 2dr Convertible (2.3L 4cyl Turbo 6M)$33211$3514522 Listings


Over All Rating

8.0Out of 10

8.00
9.00
9.10
6.00
7.90
8.00
8.80
8.00
Notable Rankings

Pictures & Videos



Trims

Base$29,645 onwards
  • 17-inch silver painted aluminum wheels
  • AM/FM/Satellite-Prep
  • Cloth Seat trim
  • Manual front air conditioning
Base$29,645 onwards
  • 17-inch silver painted aluminum wheels
  • AM/FM/Satellite-Prep
  • Cloth Seat trim
  • Manual front air conditioning
$NaN onwards

Used Ford Mustang Convertible For Sale

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19
11
Price Drop, $200
11 Aug 2022
Gilbert, AZ

2015 Ford Mustang EcoBoost Premium

EcoBoost Premium 2dr Coupe (2.3L 4cyl 310 hp 6A)

$16,099
Est. $218/mo
Excellent Deal
$3,854 Below market
RMV: $19,953
Mileage 93,787 mi.
Listed On 15 Jul 2022 (252 Days)
5
20
Miami, FL

2017 Ford Mustang EcoBoost Premium

EcoBoost Premium 2dr Coupe (2.3L 4cyl Turbo 6M)

$15,900
Est. $215/mo
Excellent Deal
$3,812 Below market
RMV: $19,712
Mileage 84,500 mi.
Listed On 10 Nov 2022 (134 Days)
20
6
Price Drop, $600
26 Dec 2022
West Warwick, RI

2015 Ford Mustang EcoBoost

EcoBoost 2dr Coupe (2.3L 4cyl 310 hp 6A)

$18,900
Est. $256/mo
Excellent Deal
$4,503 Below market
RMV: $23,403
Mileage 34,629 mi.
Listed On 30 Oct 2022 (145 Days)
25
22
Windsor Mill, MD

2017 Ford Mustang EcoBoost

EcoBoost 2dr Coupe (2.3L 4cyl 310 hp 6A)

$21,000
Est. $285/mo
Excellent Deal
$4,930 Below market
RMV: $25,930
Mileage 40,260 mi.
Listed On 24 Jun 2022 (273 Days)
6
23New
Price Drop, $1401
19 Dec 2022
Milford, OH

2015 Ford Mustang

2dr Coupe (3.7L 6cyl 300 hp 6A)

$15,499
Est. $210/mo
Excellent Deal
$3,571 Below market
RMV: $19,070
Mileage 68,033 mi.
Listed On 16 Jun 2022 (281 Days)
12
19
Price Drop, $2000
19 Aug 2022
El Paso, TX

2015 Ford Mustang EcoBoost Premium

EcoBoost Premium 2dr Coupe (2.3L 4cyl 310 hp 6A)

$19,995
Est. $271/mo
Excellent Deal
$4,559 Below market
RMV: $24,554
Mileage 50,106 mi.
Listed On 05 Aug 2022 (231 Days)
3
9
Madison, MS

2016 Ford Mustang Coupe

$16,777
Est. $227/mo
Excellent Deal
$3,835 Below market
RMV: $20,612
Mileage 91,049 mi.
Listed On 19 Jul 2022 (248 Days)
13
20
Fort Lauderdale, FL

2015 Ford Mustang

2dr Coupe (3.7L 6cyl 300 hp 6A)

$15,988
Est. $217/mo
Excellent Deal
$3,657 Below market
RMV: $19,645
Mileage 77,422 mi.
Listed On 05 Feb 2022 (412 Days)
21
20New
Price Drop, $576
24 Nov 2022
Oakfield, NY

2016 Ford Mustang EcoBoost Premium

EcoBoost Premium 2dr Coupe (2.3L 4cyl 310 hp 6A)

$17,983
Est. $244/mo
Excellent Deal
$4,080 Below market
RMV: $22,063
Mileage 51,466 mi.
Listed On 20 Sep 2022 (185 Days)

Colors and Styles

Build Car
Deep Impact Blue Metallic

Features

vehicle bio

base price$35145

body style2dr Convertible

engine type

displacement140 cu in

horse power310 hp @ 5500 rpm

torque320 lb.-ft. @ 3000 rpm

transmission6-Speed Manual

dimensions

length188 in

wheelbase107 in

width72 in

curb weight3692 lbs

height55 in

ground clearance5 in

capacity

passenger volume80.8 cu ft

cargo volume11.4 cu ft

passenger capacity4 Seats

fuel economy

city/combined/highway22/24/29 mpg

highway range 480.50 mi

warranty

basic warranty3 yr./ 36000 mi.


Ford Mustang 5 year Cost To Own


Cash Price(MSRP)
$32,349
5 Year Cost To Own
$48,835
Total 5 year Cost To Own -  $48,835
Year 1Year 2Year 3Year 4Year 5total
Depreciation$8,366$1,632$1,332$1,494$1,305$14,129
Insurance$1,302$1,348$1,395$1,444$1,494$6,983
Fuel$2,531$2,607$2,685$2,766$2,849$13,438
Maintenance$281$785$369$2,052$1,212$4,699
RepairsNANA$149$355$518$1,022
Financing Interest$1,740$1,399$1,036$647$235$5,057
Taxes and Fees$2,730$209$198$190$180$3,507
Total Cost-To-Own$16,950$7,980$7,164$8,948$7,793$48,835
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