2020 Ford Mustang GT Convertible Price

2020 MODEL
$45,130 - $46,725 See Inventory Prices
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2020 Ford Mustang GT Convertible Pricing: Trims, MSRP, Ownership and Depreciation

Updated on: October 16, 2020

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Karan Harit

Content Writer

The GT Convertible carries over all of the features from the GT Premium Fastback and adds in the ability to take the roof down in under 10 seconds. The base MSRP starts at $45,130, though opting for a few packages can easily let it cross the 50 grand mark.

GT Premium

Starting at $45,130

Available Engines

  • 460 hp @ 7000 rpm, 5L, V-8, Premium unleaded (recommended)

Available drivetrains

  • rear wheel drive

Available transmissions

  • 6-Speed Manual
  • 10-Speed Automatic
  • AM/FM Stereo w/ 9 Speakers & Amplifier
  • Ambient Lighting w/ Mycolor
  • Dual Zone Electronic Automatic Climate Control
  • Pony Projection Lamps
  • SiriusXM AM/FM/Satellite, Seek-Scan Radio
  • Sync 3 w/ 8" LCD Capacitive Touchscreen

The 2020 Ford Mustang GT Convertible carries over pretty much unchanged from the previous year. Aside from a few tweaks in the infotainment system, you would struggle to find any distinctions that set this year’s Mustang GT from its predecessor. Still, that means our love for such a powerful all-American muscle car remains untarnished. Can’t afford the bonkers Shelby GT500 or the iconic Bullitt trims? Don’t worry, all your thrills and adrenaline fixes can be delivered by the Mustang GT.

The Convertible trim adds a bit of flair to an already excellent muscle car design. There is nothing better than listening to that glorious V8 with the sky over your head and cool mountain winds brushing past the sides of the cabin. It is something you would expect the high-end European sports cars to do. The Mustang adds to that with the ability to conquer the drag strip if you are too bored with the countryside views. In terms of money, it is way easier to feed your cruising habits with a Ford than a Porsche or Mercedes-Benz.

2020 Ford Mustang GT Convertible Price Analysis

The 2020 Ford Mustang GT Convertible comes in a single trim that features the GT’s revered 5.0L V8 engine. It produces 460 horsepower and 420 lb-ft of torque. The GT Convertible carries over all of the features from the GT Premium Fastback and adds in the ability to take the roof down in under 10 seconds. The base MSRP starts at $45,130, though opting for a few packages can easily let it cross the 50 grand mark.


Mustang GT Premium Convertible



Key Features

Torsen Limited-Slip Differential


Brembo Performance Brakes


MagneRide Adaptive Damping Suspension


20-inch Premium Painted Aluminum Alloys


Heated and Cooled Front Seats


Nappa Leather Upholstery


12-inch Driver-Side Configurable Digital Display


B&O 12-Speaker Premium Surround Sound System


FordPass Connect with Sync 3 Infotainment System

Most shoppers would be tempted to go for the Performance Pack 2 that gives the Mustang GT Convertible an edge in going around tight corners. Other additions like a sports quad-tip exhaust and a larger radiator are part of this pack as well. Most of the safety features and driver aids come as standard. Other packages would include changes to the interior and exterior of the car. These can be chosen from over a dozen color schemes and materials like carbon-fiber.

Which trim should you go for?

The Ford Mustang GT Convertible comes with a single trim that gets you the most out of the features list. For a more engaging driving experience, you can add in Performance Pack 2 that gives you upgraded brakes and a sports exhaust.

How has the Mustang been priced for the last 5 years?

The sixth generation of Mustangs started in 2015. Though it is easy to spot the difference from earlier variants, the Mustangs have remained largely unchanged from the year 2017. If you observe the MSRPs for the last five years, the cost to own a Mustang GT Convertible has steadily increased. It has reflected the drop in sales of all Ford Mustangs starting from the first 2015 Mustang that hit the showrooms.


Price of Ford Mustang GT Convertible











Depreciation Curve Of 2020 Ford Mustang GT Convertible
Depreciation curve of 2020 Ford Mustang GT Convertible

When it came to the US market, the sixth-gen Mustang caused a boom of sales and selling 122,439 units in the first year. However, there were a few problems with reliability and too many recalls that people don’t really expect from modern sports coupes. This is what caused a steady decline in sales that has ripples stretching right up into November of 2019. Even if the later Mustang GTs has a lot of improvements in build quality and reliability, the damage had already been done.

If you are in the market to buy a Ford Mustang GT Convertible, we recommend going for the 2019 version. It is way more reliable than its predecessors and comes with most of the features pre-loaded. As of now, you can take advantage of various discount schemes and offers that would chew up a bit of the MSRP. Ford offers a lot of options for customizing the inside and outside of your Mustang GT Convertible. From the material of upholstery to the color of the hardtop. A few classic color schemes cost a bit extra, otherwise, the car can land well within the $50,000 mark.

What is the real cost of ownership of a Mustang GT Convertible?

It doesn’t matter if you can put together the money to just buy a car. A five-year cost of ownership is a major factor to consider before the actual purchase There are several factors such as fuel consumption, repairs, and insurance that can add to the total money you spend on a car. The Ford Mustang GT Convertible, in particular, needs a lot of gas to run. Though you will not get a hefty bill from the EPA for emissions, prepare to refuel often when commuting for more than 25 miles every day.


Year 1

Year 2

Year 3

Year 4

Year 5


Tax Credit




























Taxes & Fees




























Real Cost of ownership







As it stands, maintaining a brand new Ford Mustang GT Convertible will be fairly inexpensive as compared to other sports cars in this segment. The bulk of the car’s cost will go off in the first year, with subsequent annual costs decreasing at a constant pace. With the recent leaps and bounds that Ford is making with its build quality, it is highly unlikely that your Mustang GT will break down in the first two years. More often than not you’ll need to replace the tires, especially if you opted for the Michelin Cup Sports treads to go with this awesome muscle car.

How much does the Mustang GT cost in different states?

Car prices vary from state to state all across the US. The main reasons being the different levels of state taxes as well as the destination charges and dealer discounts. The prices of the 2020 Ford Mustang GT Convertible follow suit. There is an average deviation of $2,700 depending on the state where you purchase your Ford Mustang GT.


Ford Mustang GT Convertible

Chevrolet Camaro SS Convertible

BMW 230i xDrive Convertible

Mercedes-Benz SLC 300 Roadster


























From a sample of five states, the Mustang GT is the most expensive to buy in Florida due to more people renting the car than purchasing it outright. Moreover, there are several discounts and finance bonuses on the previous versions that make the current year trims seem needless. If you still persist in buying a brand new Mustang GT Convertible, Phoenix is the best bet. The state of Arizona eases on a lot of restrictions pertaining to powerful muscle cars.

What other cars you can consider at this price range?

A convertible sports car under 50 grand is not something unheard of. Not in today’s market, anyway. The Ford Mustang has had a long-time rivalry with the Chevrolet Camaro. If performance is your sole concern, then the Camaro SS Convertible seems like a much better deal. It has gone well away with its muscle car roots and grown to be a full-fledged sports car that can easily challenge the likes of Porsche 911 at their choice of a race track.


Ford Mustang GT Convertible

Chevrolet Camaro SS Convertible

BMW 230i xDrive Convertible

Mercedes-Benz SLC 300 Roadster







5.0L V8

6.2L V8

2.0L Turbocharged inline-4

2.0L Turbocharged inline-4


6-Speed Dual-Clutch manual with Active Rev Matching

6-Speed Manual

8-Speed Automatic

9-Speed G-Tronic Automatic






Torque (lb-ft)










While they may lack the power, the BMW 2-series and Mercedes SLC-Class more than make up for it in with their opulence. An American muscle car may never match the build quality and luxury of a Bimmer. Even more so in the Merc. Moreover, the transmissions of both these cars offer smooth shifts without losing too much on the revs.

Which car is the best value for money?

All the cars in this segment offer a lot of features. While the Germans may certainly seem more tempting with all their features and impressive driving mechanics, the Ford Mustang GT stands out as the best of both worlds. It will never match the performance of the Chevy, yet proves to be more comfortable and have the essence of a true muscle car. Even then, it retains a certain level of practicality that makes it a car that you can spend every day with.


Ford Mustang GT Convertible

Chevrolet Camaro SS Convertible

BMW 230i xDrive Convertible

Mercedes-Benz SLC 300 Roadster


Torsen Limited-Slip Differential

Limited-Slip Rear Differential

Electronic Throttle Control

Sport Exhaust System


Brembo Performance Brakes

Brembo Performance Brakes

Servotronic Power Steering Assist

Torque Vectoring Braking System


MagneRide Adaptive Suspension

Sport-Tuned Suspension

Twin-Tube Gas Pressure Shock Absorbers

4-Wheel Multilink Sport Suspension


Heated and Cooled Front Seats

Heated and Ventilated Front Seats

10-way Power-Adjustable Front Seats with Memory

Heated Power-Adjustable Sports Seats with Memory


12-inch Driver-Side Configurable Digital Display

Heads-Up Display

Active Driving Assistant

7-inch Color Dashboard Display


FordPass Connect with Sync 3 Infotainment System

Chevrolet Infotainment 3 Plus System

iDrive with On-board Computer, Controller, and Configurable Buttons

COMAND Interface with Voice Control


B&O 12-Speaker Premium Surround Sound System

Bose 9-Speaker Premium Surround Sound System

HiFi 7-Speaker Sound System

Harman Kardon 10-Speaker Surround Sound System

Should you buy the Ford Mustang GT Convertible?

The Ford Mustang has remained a sensation ever since it first hit the tarmac in the 1960s. Much has changed since then, yet the concept of a powerful muscle car that is impressive to all walks of life is a feat no other car has achieved. The Mustang GT Convertible is even more special in its own way. It doesn’t ace at just one front but manages several aspects of an automobile in a decent way. If you want a car that can perform a 13-second standing quarter-mile, pack in two large suitcases for a weekend trip, take on curvy mountain roads with ease, and get home from an entire day-worth of shopping, the Ford Mustang GT Convertible is the car for you.




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Roy L. Edelstein

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Premium 2dr Convertible (5.0L 8cyl 6M)


User Overall Rating

Posted On: October 7, 2020

Pony car.

Pros - Vehicle sound, soft leather seats, and resilience.

Cons - Nothing

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8 /10 Price Rating

More affordable, compact and high styled car.

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Top User Reviews


User Overall Rating

Pony car.

I didn? buy this for short drives like shopping, and commercial purposes. It? purely meant for long drives on the highway. I like the sound of the engine roaring under the hood while driving at great speed.

by Roy L. Edelstein

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