Score: 7 / 10

Usually there’s not much new to be said about the Mustang. In the last 50 years it stuck close to the original formula, but now the Mustang has finally let go of the live rear axle and upgraded its engine. Still, Ford wouldn’t dare venture very far from the Mustang recipe for success it landed lo those many years ago—variety, performance, and affordability. These days, that’s more true than it ever has been.

With a long hood, short trunk, and 2+2 seating, the Mustang is both larger and smaller than you’d expect. A tight interior—especially in convertible form—belies an exterior that seems slightly ponderous on the road. But then you push it through a corner and realize that it’s completely capable of handling its 3,800-pound curb weight with grace.

Available in 5 trim levels, the Mustang’s “base” engine is actually the venerable V6 that made such a splash a few years back after boasting 300+ hp and 30+ mpg. Those numbers have dropped slightly, but it’s still an impressive package putting up numbers that would have shamed V8 Mustangs until very recently. Plus, it comes packed with features normally relegated to higher trim levels. Seventeen-inch alloys, automatic xenon headlights and LED taillights, keyless entry and ignition, a tilt and telescoping steering wheel, and the MyKey parental control system are all standard.

If you want to try out turbo Mustang power, the EcoBoost trim will get you power front seats, unique 18-inch alloys, a rear spoiler, and LED fog lights. A Performance Package here is a great option, with shorter gearing, sport suspension and upgraded brakes, upgraded radiator, sport steering, additional gauges and trim, a smooth trunklid, and unique 19-inch wheels wrapped in summer tires. That’s tempting. You can also add cloth Recaros here, if you want to really push the limits.

The EcoBoost Premium is where Sync 3 makes its debut in the Mustang, but there are other high-profile features as well. There are aesthetic additions like ambient lighting, unique trim, leather upholstery, and what Ford calls “horse lasers” (yes, I’m serious) that project little Mustang emblems on the ground next to the car at night. But the EcoBoost Premium isn’t lacking in functional upgrades as well, with heated rear-view mirrors, a rear diffuser, multiple drive-mode options, heated and ventilated seats, and dual-zone automatic climate controls, as well as an upgraded, 9-speaker Sync 3 infotainment system with 8-inch touchscreen.

But let’s be honest. If you want a Mustang, you probably want a V8. Yes, the V6 is an impressive engine, but the EcoBoost with the turbo four is lighter, and that means it handles even better. But a Mustang is all about V8 power, and the Coyote V8 is an engine you simply must experience. However, if you go to the V8, you’re going to lose the premium options that were added to the EcoBoost Premium, trading them for the bigger engine, bigger brakes, and electric line-lock and launch control if you choose the 3-pedal version. There’s a Performance Package here as well, adding Brembo brakes and a Torsen limited-slip diff, but you’ll have to move up to the GT Premium to get all that Premium goodness back.

For my week with the Mustang, I was lucky enough to be given a convertible fitted with the new California Special package—an option that first appeared in 1968. This takes a GT Premium (MSRP $36,395), fastback or convertible, and adds cosmetic upgrades like unique 19-inch wheels, a larger front splitter and rear spoiler, special black accents along the sills as well as CS badging on the glovebox, fake filler cap, and strut brace. There’s more inside with special trim and door inserts as well as unique leather and microsuede upholstery with contrast stitching. With the upgraded Shaker stereo ($1,795), the CS Package ($1,995), and the voice-activated navigation system ($795), this brought the total MSRP with a $900 destination and delivery fee to $47,380.