When Ford introduced the Mustang on April 14, 1964, there was no way the company could know what a sensation it would become. Of course, over the years, people chose sides, with some adoring the affordable little sports car and others not caring for it. However, the 2024 Ford remains one of the most affordable ways to get into a sports car with plenty of power, refined handling, and classic muscle car style.

Join me as I spec one out for myself to see how realistic this appealing starting price is for the 2024 Mustang.

2024 Ford Mustang price options

We’ll use Ford’s online build and price tool to price out a 2024 Ford Mustang with the most budget-friendly price. However, this isn’t a contest to build the cheapest Mustang. Let’s spend money where it counts and create one we’d enjoy driving on work days and our days off. 

Upon opening the online build tool, we see six Mustang options and the following starting prices:

• Ecoboost Fastback – $30,920
• Ecoboost Premium Fastback – $36,445
• GT Fastback – $42,495
• GT Premium Fastback – $47,015
• Dark Horse – $59,270
• Dark Horse Premium – $63,265

The 2024 Ford Mustang GT Fastback

Given the task of building a realistic 2024 Ford Mustang, you might expect the cheapest build possible. And, while the EcoBoost Fastback’s 315 horsepower and 350 lb-ft of torque is impressive from a 2.3-liter four-cylinder, it’s no match for the GT’s 5.0-liter Coyote V8 with 480 horsepower and 418 lb-ft of torque.

Plus, we get the six-speed manual transmission with the GT at no extra cost. But, if you’d rather have the 10-speed automatic, it’ll cost an additional $1,595. 

2024 Ford Mustang GT Fastback equipment group and package options

The 2024 Ford Mustang GT Fastback comes with the GT (300A) equipment group that includes:

• A painted body-color wedge decklid spoiler
• 12.4-inch LCD digital gauge cluster
• 18-inch Ebony Black painted aluminum wheels
• LED projector headlamps
• Sequential LED taillights
• 3.55 gear ratio limited-slip rear axle
• Selectable drive modes
• Vented four-wheel power disc brakes
• Auto-dimming frameless rearview mirror
• A leather-wrapped flat-bottom racing-inspired steering wheel
• A six-speaker sound system
• Manual adjustable driver (six-way) and passenger (four-way) seats

We’ll opt for the GT High (301A) equipment group that costs $2,000 and adds or upgrades:

• A nine-speaker audio system
• Ambient interior lighting 
• Dual-zone automatic climate control
• A six-way power adjustable driver seat with power lumbar support
• Heated front seats
• SiriusXM Radio with HD

The GT Performance Package and Mustang Nite Pony Package are the only two package options, but we’ll avoid both. While the GT Performance Package features larger 19-inch wheels, Brembo brakes, a 3.73 geared rear axle, and heavier front springs, among other performance goodies, since we’re building a weekend cruiser/daily driver and not a track car, we can’t justify the additional $4,995.

The Mustang Nite Pony package would also add the larger wheels and various black accents but would cost an additional $1,195. 

Our 2024 Ford Mustang GT Fastback

We chose the no-cost Grabber Blue Metallic exterior with the $475 over-the-top opacity fade accent stripe for our 2024 Ford Mustang GT Fastback. We stuck with the included six-speed manual transmission, 3.55 limited-slip rear axle, and 18-inch Ebony Black aluminum wheels. However, we upgraded to the GT High equipment group for a more comfortable interior. 

Our total cost included the base $42,495 MSRP, plus $2,475 options and the $1,595 destination fee. That brought our final estimated net price to $46,565, which, according to Ford, equals $830 per month for five years with 10% down. 

Is it the cheapest 2024 Ford Mustang available? Not by a long shot, but it’s one we’d enjoy driving to work every day so we could make the payments. Which Mustang will you build? Let us know in the comments below.