1989 Ford Mustang 5.0 GT

2dr Convertible

8-cyl. 5.0L 302cid/225hp SFI High Output

#1 Concours condition#1 Concours
#2 Excellent condition#2 Excellent
#3 Good condition#3 Good

$22,700 CAD*

-21.2%
#4 Fair condition#4 Fair
Value GraphOct 2024
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Model overview

Model description

Although 1989 was the Mustang’s 25th year, there was little fanfare and unfortunately no commemorative special editions. Instead, a Pony logo and “25 Years” was inscribed on all Fox body Mustangs produced between April 17, 1989 and April 17, 1990.

For the Ford Mustang, major design and mechanical changes occurred in 1987, and those changes largely carried over to 1989. The base four-cylinder engine made 90 horsepower, while the 5.0-liter V-8 put out 225 horsepower and 300 pound-feet of torque.

The engine’s speed density computer system was replaced with a mass air flow system. There was no additional power (some sources even claim power was slightly reduced for ’89), but it did make the engine easier to receive aftermarket modifications.

You could still get the 5.0-liter V-8 in the LX trim, and for 1989 this combination was now called the LX 5.0 Sport. In addition to the V-8, it featured the beefed up suspension of the GT, making it an appealing sleeper car.

In 1989, the T-Top roof was no longer available and body styles were limited to notchback, fastback or convertible. Power seats, which were previously only available in the GT, were now available in the LX. The convertible also now received standard power windows. ASC continued to make the ASC McLaren high-performance convertible, but the number produced fell to just 247 cars.

While Ford might not have done much to celebrate the 25th anniversary of the Mustang, Saleen certainly did, with their own SSC Mustang. These cars featured unique ground effects all around, a massive rear spoiler, added decals, and engine mods that beefed up output to 292 horsepower and 325 pound-feet of torque. Saleen made just 160 SSC Competition Mustangs.

Vehicle specifications

  • Wheel Base Shortest - Inches100.5
  • Wheel Base Longest - Inches100.5
  • Shipping Weight3333
  • Drive TypeRWD
  • Manufacturer NameFord
  • Front Tire SizeUnknown
  • Manufacturer MSRP17512
  • Market SegmentationMid Size Sport
  • Manufacturer CodeC134
  • Front Tire Size CodeU

Equipment

  • StandardOptional
  • Transmission5 Speed Manual4 Speed Automatic
  • Power BreaksPower Brakes
  • Power SteeringYes
  • EntertainmentAM/FMAM/FM CASS
  • Power WindowsYes
  • Tilt Steering WheelYes
  • Roof DescriptionManual Sun/Moon Roof
  • Restraint typeActive (Manual) Belts
  • Security EquipmentNone

Equipment

Standard

  • Transmission5 Speed Manual
  • Power BreaksPower Brakes
  • Power SteeringYes
  • EntertainmentAM/FM
  • Tilt Steering WheelYes
  • Restraint typeActive (Manual) Belts
  • Security EquipmentNone

Optional

  • Transmission4 Speed Automatic
  • EntertainmentAM/FM CASS
  • Power WindowsYes
  • Roof DescriptionManual Sun/Moon Roof
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All prices shown here are representative of stock condition vehicles only and based on various data sources, as detailed in About Our Prices. Value adjustments for optional equipment are in U.S. dollars. More information on how forecast models are calculated can be found on Forecasted Values page. For additional information and a complete description of benefits, visit hagerty.CA/legal. Purchase of insurance not required for membership in HDC. Hagerty, Hagerty Valuation Tools & Hagerty Drivers Club are registered trademarks of the Hagerty Group LLC, ©2024 The Hagerty Group, LLC. All Rights Reserved.