2004 Ford Mustang Review: Just Buy a 2005 Mustang, Instead

The 2004 Ford Mustang runs on the same platform as the 1994 Mustang, it costs a lot of money to maintain, and, at around ten grand for a V8 model, it’s really expensive for a twenty year old sports car. If you’re going to shell out that kind of cash, you might as well go with the superior ’05 edition.

Is the 2004 Ford Mustang a Good Used Car?

• Overall Rating 7/10 – The 2004 Ford Mustang was one of the only affordable muscle cars on the market in 2004, but, twenty years later, you’ve got far too many options to settle for this.
• Interior, Comfort & Cargo 6/10 – Cramped and claustrophobic, even by sports car standards. But, the suspension has held up well over the years.
• Reliability 7/10 – It’s not a lemon, but you’re going to have more wear and tear than usual, seeing as the first owner was probably a teenager who loved doing burnouts and donuts in the high school parking lot.
• Safety 6/10 – Safety features are adequate, but dated, and Mustangs have never gotten the best scores from the Insurance Institute for Highway Safety.
• Gas Mileage 8/10 – We’re grading on a curve here. The SVT Cobra averages 17/24 miles to the gallon, city/highway, which isn’t so bad for a 390 horsepower V8.
• Value 6/10 – If you’re going to spend ten thousand bucks on a used V8, you’d be better off buying the 2005 edition of the Ford Mustang.

What Do Critics Say About the 2004 Ford Mustang?

Consumer Reports call the 2004 Ford Mustang a “primitive rear driver” with a “loyal following.” They note that the 3.8L V6 model is more noisy than powerful, but the 4.6L V8 is considerably more impressive. Overall they find the 2004 edition of the iconic muscle car more clunky than fun.

Kelley Blue Book users were, unsurprisingly, much kinder to the car, giving it a strong 93% recommendation. Owners had special praise for the car’s muscular performance and classic American feel. A few drivers noted that the interior is a bit cramped, and repairs can be expensive.

Edmunds liked the Mustang’s powerful V8 engine, “American attitude,” and broad range of trim levels. They found the ride a bit choppy, and the interior materials a bit cheap, and the overall design of the car “archaic.”

What Common Problems Does the 2004 Ford Mustang Have?

A recall was issued in 2006 for Cobra model Mustangs owing to accelerator pedals getting stuck in the floor mat, resulting in unintended acceleration. Complaints have continued to roll in as late as 2018. This is an easy fix, of course, as you just need to bring the car in for a replacement floor mat.

There have been a few reports of airbags failing to deploy in the event of an accident, but rate of incidence has been too low to result in an investigation or recall on the art of the National Highway Traffic Safety Administration.

Reports of early engine and powertrain failure are scarce, but tend to take place before 100,000 miles. Wear and tear is going to be a major concern in a Mustang. This is a sports car, meaning that it may have had a previous owner who liked doing burnouts and power-slides at the dirt track.

The 2004 Ford Mustang has 6 recalls and 128 complaints on file with the NHTSA. Those numbers are pretty good for a twenty year old sports car.

How Long Will the 2004 Ford Mustang Last?

A 2004 Ford Mustang can last 300,000 miles or more, but, realistically, you should expect the really expensive repairs to start piling up after just 200,000 miles. Hondas last forever in part because they attract practical, mature buyers. Mustangs tend to attract younger drivers with a need for speed.

RepairPal estimate an annual maintenance cost of around $709, with a new cylinder head being the most expensive common repair, starting at $2,301.

How Is the Technology?

Entertainment technology is pretty good considering the year this car was released. The higher trim levels have features like 6-disc CD changers and Sirius Satellite radio capability, while the entry level includes a CD player, which may not seem like a big deal, but it wasn’t a given in 2004.

Safety features are acceptable for a 2004 sports car. Entry level trims may be lacking in this department, but you’ve got anti-lock brakes and traction control in the higher trim levels.

Is the 2004 Ford Mustang a Good Value?

A 2004 Ford Mustang simply isn’t a great value. A standard V6 Coupe with under 120,000 miles on the odometer typically sells for around $5,323, which isn’t bad for such a popular vehicle. But, you don’t want the V6 model, you want the V8 model, which typically lists in the $10,000 range.

Combined with the high maintenance costs and the amount of time you’re going to spend under the hood, if you’re spending ten grand on a used sports car you might as well look into restoring a classic.

What are the Different Models of the 2004 Ford Mustang?

The 2004 Mustang is available in four trim levels total, from the self-explanatory Standard to the supercharged SVT Cobra:

With the entry-level Standard you’re getting:

• Remote keyless entry
• CD player
• Cloth bucket seats
• Power windows and door locks
• Securilock anti-theft

Next up is the GT edition, adding:

• Fog lights
• 4.6L V8 engine

With the high-end Mach 1 you add:

• Leather seating
• Anti-lock brakes and traction control
• 6-way power driver seat
• Leather wrapped steering wheel
• 6-disc CD player

Finally, the top-of-the-line SVT Cobra features:

• Leather/perforated suede seating
• Driver lumbar support
• Supercharged 4.6L V8 engine

What Engines Come In the 2004 Ford Mustang?

• Base 2004 Mustangs come with a 3.8L V6 engine delivering 220 lb.-ft. of torque and 190 horsepower. This is paired to a 4-speed automatic transmission in rear wheel drive and averages 20/29 miles to the gallon. The V6’s zero-to-sixty has been clocked at just under ten seconds.
• The GT and Mach 1 models come with a 4.6L V8 delivering 260 horsepower and 302 lb.-ft. of torque. This is paired to a 4-speed automatic in rear wheel drive, and averages 18/25 miles to the gallon. Expect to hit 60 mph in 5.4 seconds.
• SVT Cobra models come packed with a supercharged version of the 4.6L, delivering 390 horsepower and 390 lb.-ft. of torque. This is paired to a 6-speed manual, and it averages 17/24 miles to the gallon. The Cobra can hit 60 mph in 5.5 seconds, one point slower than the standard V8, but it does the quarter mile in 0.18, compared to 0.20 for the GT and Mach 1.

What Colors Does the 2004 Ford Mustang Come In?

How Comfortable Is the 2004 Ford Mustang?

The 2004 Ford Mustang isn’t the most comfortable car in the world. The interior is a cockpit, not a cabin. You’ve got just 47 inches of hip room in the back, so it’s cramped for two adults, let alone three. On the other hand, there are very few suspension complaints on file, so the shocks and struts have held up well over the years.

If you’re looking for a daily driver, a family car, a grocery-getter, this ain’t it. The 2004 Ford Mustang is a sports car first and foremost, with comfort being very low on the list of priorities.

How Much Storage Space Does the 2004 Ford Mustang Have?

The Coupe offers 10.9 cubic feet of cargo space, while the convertible packs just 7.7 cubic feet. You can pack a couple medium-sized suitcases in there, but you’re gonna need the backseat for anything you can’t fit in the airplane carry-on.

Other than a few cup holders, you’re going to find the interior lacking for storage space, too. If it doesn’t fit in your pockets you’ll probably be piling it on the passenger seat.

What Are the Differences Between Years?

2004 was the final year of the Ford Mustang’s 4th Generation, which launched in 1994. The long-overdue 5th Generation model would be launched in 2005, running until 2014.

2002: There were no major changes between the engine tweaks made in 1999, bringing the horsepower up by 35 points in the V8 and 40 in the V6, and 2002.

2003: Ford made a few cosmetic upgrades to the Mustang in 2003, with some tasteful silver accents here and there.

2004: No major changes for 2004, as Ford were more interested in the 2005 relaunch at this point.

2005: The 5th Generation Mustang launched with a retro-inspired interior, a 5-speed automatic transmission, stronger brakes, and a modernized suspension system.

2006: Ford launched a few special edition Mustangs for 2006, including a GT California Special, styled after the 1968 California Special, and the Bullitt edition, inspired by the iconic movie of the same name.

2007: The Mustang got a handful of minor changes for 2007, including a new audio input jack, optional heated leather seats, and a flashy Grabber Orange paint option.

How Does the 2004 Ford Mustang Compare to the Competition?

With no Chargers or Challengers released in 2004, the Mustang stands almost entirely uncontested in the mid-range muscle car market. The 2004 Chevrolet Corvette is an excellent car all around, and it typically lists at around $17,925 for an entry level Coupe. It’s the same story with the Pontiac GTO, an awesome car, starting at around $13,167.

Starting in the $10,000 range, a 2004 GT Mustang is your most affordable option for a muscular American-made sports car from this era, which goes to show how overpriced these cars are in general.

Your best bet may not be to look for the best muscle car released in 2004, but to go with a 2005 Mustang, which was an improvement on the 2004 model in almost every way, but typically lists at around the same price, and with fewer miles on the odometer.

Do Owners Recommend the 2004 Ford Mustang?