The median 2016 Mustang in the Canadian market sits at $21,700. That's your anchor. Most cars land between $19,900 and $24,971, so anything under $20K is priced at the bottom of what this year normally goes for, and anything past $25K needs a real reason to justify the premium.
Median mileage on these is about 80,410 km. If the car you're looking at is close to that number, the median price is a fair read on what you should pay. Below 80K km and you're on the lower-mileage side, which the market rewards a little.
How mileage moves the price
Every extra 10,000 km knocks roughly $208 off the asking price. So the mileage effect here is gentle. A car with 120,000 km instead of 80,000 km carries about $830 less value from the odometer alone. Useful math when a seller wants top dollar on a higher-km example, but it won't swing the deal on its own.
We've flagged 5 deals on this year in the last 90 days. Not a flood, so when a genuinely well-priced one shows up, it's worth moving on. Use the $19,900 mark as your line in the sand: at or below that, with mileage near or under 80K, you're buying at the strong end of this year's range.
Numbers reflect live listings across Canada over the last 90 days, filtered for outliers. Data as of . Prices in CAD.