When covering the auto industry, I frequently get comments from readers about how many vehicles have gotten far more expensive over the past decade and in looking at the numbers for the 2017 and 2018 Ford Mustang GT Premium – that complaint is reinforced to a fairly definitive level. After playing around on Ford.com, I found that a loaded 2018 Mustang GT Premium fastback is around $55,000 while a new convertible is around $58,000, making the hard top $7,500 more than a loaded 2017 Mustang GT Premium fastback while the new convertible tops out around $7,100 more than the comparable 2017 model.

Unfortunately, some people will look online, see that a loaded 2018 Mustang GT costs $7k more than a loaded 2017 model and immediately come away with the belief that the new model year is greater than $7,000 more than the current models because it is a new model year with a little more power. However, when you look closer at the features of the 2017 and 2018 Mustang GT Premium, the new models cost more because they come with some very significant new features.

Yes, the 2018 Ford Mustang GT Premium is quite a bit more money than the 2017 models and with a price maxing out in the $55-58k range, this is the most expensive Mustang GT ever, but this high price comes with a list of options not offered for the 2017 model year (or before).

Pricing Out the Ford Mustang GT Premium

To reach the prices below, I want to Ford.com and built a Mustang GT Premium fastback and convertible for the 2017 and 2018 model year. There are other options not mentioned below, but that is because to add some options and packages, you have to remove some other, more expensive options or packages. For example, my examples below do not include the Black Accent Package, but that is because you cannot get that package with the GT Performance Package. There are also pricier wheel options, but like the Black Accent Package, you cannot get them with the GT Performance Package.

The 2017 Ford Mustang GT Premium fastback with a premium paint option, the 401A popular equipment group, the GT Performance Package, Adaptive Cruise Control, all weather floormats, color accented premium interior trim, Navigation and the Recaro race seats has an MSRP with destination of $47,750. A 2017 Mustang GT Premium convertible with most of the same features (the Recaro seats aren’t available with the drop top) has an MSRP of $51,655.

There might be some other small accessories or things like wheel locks which can be added when ordering at the dealership, but for the sake of discussion, the 2017 Mustang GT fastback tops out around $47,750 and the convertible tops out around $51,655.

The 2018 Mustang GT Premium fastback with a premium paint option, the 10-speed automatic transmission, the 401A popular equipment group, the GT Performance Package, the enhanced security package, the active exhaust system, the Safe & Smart package, the MagneRide suspension setup, the Shaker Pro Audio system and the Recaro seats has an MSRP of $55,250. The comparably equipped 2018 Mustang GT Premium convertible (again, no Recaro seats) has an MSRP of $58,760.

As is the case with the 2017 Mustang, there might be some other small things that can be added on to slightly increase the price, but when adding all of the key available features on Ford.com for the 2018 Mustang GT Premium, the price tops out at $55,250 for the hardtop and $58,760 for the convertible.

The Key Differences

When reading through those build lists above for the 2017 and 2018 Ford Mustang GT Premium, there are several items in 2018 which are not listed for 2017.

The automatic transmission was not available for 2017 when you ordered the GT Performance Package, but for 2018, the new 10-speed is offered with the higher performance setup. That adds $1,595 to the bottom line for 2018.

The active valve performance exhaust option is new for 2018, and that adds $895 to the price.

The MagneRide suspension system is new for 2018, and that adds $1,695 to the MSRP.

The GT Performance Package for 2018 costs $1,000 more than the similar package in 2017.

Finally, there are some packaging changes for 2018, such as which items are included in the 401A popular equipment package and how the various safety features are bundled and priced, but if we just take into account those items listed above, much of the price difference for 2018 can be attributed to new features.

The automatic transmission, the active exhaust, the MagneRide suspension package and the pricier GT Performance Package leads to an increase of $5,185. Also, while it is hard to line up the pricing and features with the changes in package details, some of the 2018 Mustang features have been improved and due to that, they are more expensive. As a result, even without those new items mentioned above, the 2018 Mustang GT is around $2,000 more than the 2017 model – but that price gets you a Mustang GT which is packs more power and outperforms the 2017 models in every way.