The median 2004 Mustang in the Canadian market sits at $13,492. That's your anchor. Pay much above it and you're either buying condition, low kilometres, or a story someone's telling you.
Most of these land between $8,725 and $22,750, which is a wide spread for a car this age. A gap that big usually comes down to what's under the badge. A tidy V6 coupe and a clean GT convertible are both 2004 Mustangs on paper, and the price tag is where they part ways. Figure out which end of the range your car actually belongs in before you talk numbers.
Where the mileage sits
Median odometer reading is 108,324 km. For a 2004, that's honestly modest, and it tells you the survivors on the market have been driven fairly gently. If a car's showing well past that, the price should reflect it. If it's well under, expect the seller to know exactly what they've got and price accordingly.
We flagged 5 deals on this model year in the last 90 days. Not a flood, so when a clean one lands near or below $13,492 with reasonable kilometres, it's worth moving on rather than waiting for the next one.
Numbers reflect live listings across Canada over the last 90 days, filtered for outliers. Data as of . Prices in CAD.