“I Want a Ford Mustang Convertible” – Before You Buy, Read This
History
Sun, wind in your hair, and the roar of a V8 engine – the Ford Mustang Convertible is one of the few cars that can fulfill a dream and, at the same time, put a smile on the face of every passerby. But before you crack open that piggy bank, it is worth knowing what you are really signing up for – and which path you actually want, and can realistically take depending on your budget.
The history of the Mustang convertible begins in March 1964 – and it was a white convertible that became the very first Mustang to leave the factory in Dearborn. From that moment on, the open-top version of this car became an icon: it showed up in movies, on posters, and in the dreams of whole generations of drivers.
For more than 60 years, the convertible accompanied almost every Mustang generation – with one loud exception. The 1970s brought the oil crisis, and Ford made one of the more absurd decisions in its history: in Generation II (1974–1978), it completely dropped the convertible. Thankfully, it came to its senses in 1983, and open-top Mustangs came back for good – never to disappear from the lineup again.
Today, the choice is really wide: you can buy a cult classic from the 1960s that stops time and warms your petrol heart every single time you look at it, or you can go for a modern Generation VI or VII convertible with a turbo or a roaring V8, packed with new technology and safety features. Or you can look for something in the middle – what I consider the underrated middle ground. Every path has its own price, its own charm, and its own traps.
I have gathered the key information across all generations – from engines and performance, to real purchase costs, to how much you actually need in your pocket before a Mustang convertible greets you when you open the door to your garage. Let’s go.
Ford Mustang Convertible – Generation Overview
Generation I (1964–1973)
The first car to leave Ford’s factory in Dearborn in March 1964 was, in fact, a white convertible – and that is how this story started.
- Cheapest / entry-level engine: 2.8 R6, about 101 hp – 0–100 km/h in around 13–15 seconds, top speed around 160–170 km/h.
- Most powerful convertible: 7.0 V8 Boss 429 or Cobra Jet 428, 335–375 hp; 0–100 km/h in around 6–7 seconds, top speed around 210–225 km/h.
- Shelby versions (GT350 / GT500): up to 550–750 hp in special editions.
- The convertible was produced until 1973, when Ford ended this body style.
Generation II (Mustang II, 1974–1978) – No Convertible!
Ford made a particularly absurd decision here. Right in the middle of the oil crisis, instead of giving people the joy of an open roof, it cut the convertible completely. Engines shrank to 88–140 hp, the car lost its character, and sales got worse year after year. Thankfully, Ford came to its senses in the next generation.
Generation III (Fox-body, 1979–1993)
The convertible came back in 1983 after a 10-year break. It was a very anticipated return.
- Cheapest / entry-level engine: 2.3 R4 or 3.8 V6, around 88–110 hp – 0–100 km/h in around 12–14 seconds, top speed around 160–180 km/h.
- Most powerful convertible: 5.0 V8 HO, around 175–225 hp – 0–100 km/h in around 7–8 seconds, top speed around 200–220 km/h.
Generation IV (SN-95, 1994–2004)
The convertible was available throughout the entire production run, now with a new, more aerodynamic body.
- Cheapest / entry-level engine: 3.8 V6, around 145–150 hp – 0–100 km/h in around 9–10 seconds, top speed around 180–190 km/h.
- Most powerful convertible: 4.6 SOHC V8 GT, around 260–280 hp – 0–100 km/h in around 6.5–7 seconds, top speed around 220–240 km/h.
Generation V (S-197, 2005–2014)
A return to the retro styling of the 1960s, and a huge market success.
- Cheapest / entry-level engine: 4.0 V6, around 210–215 hp – 0–100 km/h in around 7.0–7.3 seconds, top speed around 210–225 km/h.
- Most powerful convertible: 4.6 V8 GT, around 300–315 hp – 0–100 km/h in around 5.8–6.0 seconds, top speed around 240–250 km/h.
Generation VI (S550, 2015–2023)
A breakthrough generation – the first one sold globally in Europe right from the start, with a completely new engine lineup.
- Cheapest / entry-level engine: 2.3 EcoBoost turbo, around 310–320 hp – 0–100 km/h in around 5.7–5.8 seconds, top speed around 233–240 km/h.
- Most powerful convertible: 5.0 Ti-VCT V8 GT, around 420–435 hp – 0–100 km/h in around 4.8 seconds, top speed around 250 km/h.
Generation VII (S650, 2024–2026)
The convertible is available only as a GT 5.0 V8 – Ford dropped the cheaper 2.3 EcoBoost from the open-top version, keeping it exclusively for the coupe.
- The only convertible engine: 5.0 Ti-VCT V8 GT, 453 hp / 540 Nm – 0–100 km/h in around 5 seconds, top speed around 250 km/h.
Time to Shop – What Costs What?
Generation I (1964–1973, Convertible)
| Category | Price Range |
|---|---|
| Cheapest / entry-level convertibles (V6, weaker V8s, high mileage, no major restorations) | €15,000–25,000 (mostly USA, older V8s in rougher condition) |
| Average market (well-kept V8, without a full classic restoration) | Usually €35,000–60,000 |
| Restored / collector-grade (high-grade V8, rare 1967–1969 model years, desirable colors) | Often €70,000–150,000+, and very good examples or special editions easily go beyond €200,000+ |
Generation III (Fox-body, 1979–1993, Convertible)
| Category | Price Range |
|---|---|
| Cheapest convertibles (V6 or 5.0 with high mileage, from the USA, possible issues) | Around €8,000–15,000 |
| Average market (well-kept 5.0 V8, without major flaws) | Usually €20,000–40,000 |
| Restored / collector-grade (full restoration, strong V8s, rare versions) | Often €45,000–80,000+ |
Generation IV (SN-95, 1994–2004, Convertible)
| Category | Price Range |
|---|---|
| Cheapest convertibles (V6 or 4.6 in poor condition, from the USA, with a few issues) | Around €10,000–20,000 |
| Average market (well-maintained 4.6 V8, no major restoration needed) | Usually €25,000–45,000 |
| Restored / collector-grade (GT V8, special editions, documentation) | Often €50,000–100,000+ |
Generation V (S-197, 2005–2014, Convertible)
| Category | Price Range |
|---|---|
| Cheapest convertibles (4.0 V6, high mileage, from the USA, no major investment) | Around €15,000–25,000 |
| Average market (well-kept 4.6 GT, 60,000–100,000 km) | Usually €30,000–55,000 |
| Restored / strong V8 / tuned examples (GT with upgrades, low miles) | Often €60,000–90,000+ |
Generation VI (S550, 2015–2023, Convertible)
| Category | Price Range |
|---|---|
| Cheapest convertibles (2.3 EcoBoost, high mileage, from the USA, without major extras) | Around €25,000–35,000 |
| Average market (well-configured 2.3 or 5.0 GT, 4–8 years old) | Usually €40,000–65,000 (GT 5.0) |
| Restored / heavily upgraded examples (GT, Dark Horse-style, very low mileage) | Often €70,000–110,000+ |
Generation VII (S650, 2024–2026, Convertible GT)
| Category | Price Range |
|---|---|
| Cheapest convertibles (base GT 5.0, first model years, not a “special edition”) | Around €65,000–80,000 (new / young-used from the USA or Europe) |
| Average market (well-equipped GT, 2025–2026, low miles) | Usually €85,000–110,000 |
| Most expensive / show-spec cars (GT with upgrades, all fees included, aggressive trim) | Often €115,000–150,000+ |
What Speaks to Me the Most?
Personally, I think the penultimate, sixth generation is simply the prettiest Mustang of them all. No doubt some fans of the first-generation classic are already frowning at that – but I suspect I’m not alone in this opinion. Its popularity and constant demand speak for themselves.
I deeply respect the first-generation Mustang and always admire it. It’s a car that turns heads and keeps them turned until it disappears over the horizon. But that very uniqueness and priceless character takes away the simple joy of driving it – I’d spend the whole ride worrying about it every time I pulled it out of the garage and praying at every intersection.
The new 2024 Mustang is fantastic – but it’s just not the car for me; it is too harsh for me. If I had to buy a Mustang today, I’d unreservedly look for the fifth generation, pre-facelift, meaning the 2005–2008 model years. Why?
- Stylistically, it recalls the original perfectly – retro, but not a caricature.
- It’s not as obvious as the very common sixth generation you see all over Europe.
- It’s not yet so old that it turns into a rolling piggy bank, like the first generation.
- It can still be quite affordable – the 4.0 V6 is really not that scary for the wallet.
Choosing a Mustang generation is an endless story, although in the end it usually comes down to two questions: how much money you have in your pocket, and how much stress you are willing to accept every time you pull out of the garage.
Funny… I was already obsessed with that fifth-generation Mustang convertible in the opening credits of the TV show Man v. Food with Adam Richman as a kid… and somehow it has never slipped my mind since then.
I had my sights set on a Mustang and found the answer for myself- which one I would choose, but maybe a Chevrolet Camaro would be better… and that will be the subject of one of my next articles!