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1998 Ford Mustang
Invoice: $14,819 - $25,819
Miles Per Gallon
City: 17 MPG - 20 MPG
Highway: 25 MPG - 29 MPG
Body Style: Coupe, Convertible
Engines: 3.8L V-6 150 HP, 4.6L V-8 225 HP, 4.6L V-8 305 HP
The Mustang is lucky to have survived Ford's model purge that ousted the Thunderbird, Probe, Aspire and Aerostar last spring. Lucky, because it has a huge following, an even bigger aftermarket, and a legend that none of those other now-dead (model) brands can match. The Mustang is an icon that, having escaped the axe in 1988, has lasted another 10 years by following a simple formula: cheap, quick, fast, and cute. The changes made to the car for 1998 are minimal, including the attractive pricing. The Mustang has only two true competitors, the Chevrolet Camaro and the Pontiac Firebird - the other two members of the ponycar segment. Like the two GM ponycars, the Ford Mustang comes in many guises. There are V6 and V8 versions in both coupe and convertible body styles along with the Cobra, a super-performance model that competes against the Camaro SS and the Firebird Ram Air. There are Japanese and Korean coupes that compete with the Mustang on price, but certainly not on performance. The Mustang offers a 3.8-liter V6 with 150 horsepower and 215 foot-pounds of torque, for $17,020, and a V6 convertible for $21,520. The GT, powered by a 4.6-liter, single overhead-cam V8 rated at 225 hp and 290 lbs.-ft. for 1998, starts at $21,020 for the coupe and $25,020 for the convertible. A 32-valve, double overhead-cam 305-hp V8 is exclusive to the $26,680 Cobra and $29,480 Cobra convertible. The engines are backed by either a standard 5-speed manual or an optional 4-speed automatic overdrive transmission, except for the Cobra, which only comes with a manual gearbox. Air conditioning is now standard on GT models. Tires on the GT now carry an H-speed rating, a step down from the Z-rated tires last year. Another change is the leather interior package that includes front bucket seats only, a change made in the name of affordability.
Purchasing an older vehicle, such as the 1998 Ford Mustang, makes good financial sense. You're able to avoid the steep depreciation rates that occur with brand new vehicles. This essentially gives you the advantage of getting a 1998 Ford Mustang for less money than when it was new. If the 1998 Ford Mustang was properly maintained, you also have a good chance of steering clear of problems that would have developed when the car was new.
The amount you pay for an older car depends on various factors. One important element is where you buy the vehicle. You're likely to get a better deal if you buy it from a private party, as opposed to a dealer. On the other hand, a reputable dealer will normally have some kind of limited warranty, so you can drive away knowing that if the car breaks down right away, you'll be covered. Another factor that may affect price on a 1998 Ford Mustang is whether it's "certified" by the manufacturer. A certified vehicle will cost more because warranty service is provided that normally doesn't come with a used car.
Another dynamic that will play into the purchase price is the resale value. A used vehicle with a high resale value will obviously cost you more. It is expected that the 1998 Ford Mustang will have a good resale value. This assumes that the 1998 Ford Mustang is in good condition and has a reasonable number of miles.
Find a used 1998 Ford Mustang for sale at CarsDirect.
