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List Price Range:$8,500 - $18,899
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Edmunds' Expert Review

  • Strong V8 power, competent chassis and brakes, good crash test scores, ragtop option.
  • Solid rear axle, dorky-looking fake hood and side scoops, poor stereo ergonomics.

The original pony car is still one of the best, and there's a good reason for this sport coupe's longevity.

Vehicle overview

Now 37 years old, the Mustang is quickly approaching middle age. But if it's going through a mid-life crisis, nobody is noticing. The Mustang is as popular as ever.Ford's sport coupe has outsold GM's F-bodies -- the Chevrolet Camaro and Pontiac Firebird -- the last six years in a row. This is in spite of the fact that the Mustang has suffered a performance disadvantage since its redesign in 1994.

There are four models: the V6 Coupe, the V6 Convertible, the GT Coupe and the GT Convertible. All models can be ordered in either deluxe or premium trim. There is also a standard trim available on V6 coupes only. All V6 models have a 3.8-liter pushrod engine that makes 190 horsepower at 5,250 rpm and 225 foot-pounds of torque at 2,800 rpm. Power is acceptable, though V6 Coupes definitely have a rental-car stigma attached to them.

The GT Coupe and Convertible are more in-tune with what pony cars should be. Equipped with a 4.6-liter SOHC V8, GT output is listed at 260 horsepower at 5,250 rpm and 302 foot-pounds of torque at 4,000 rpm. If that still isn't enough, you should know Ford has brought back the SVT Mustang Cobra this year. Because of production problems with '99 SVT Mustang Cobras (they weren't making the power they were supposed to), Ford took the car off-line for 2000 to get everything sorted out.

The Ford SVT Mustang Cobra is a high-performance Mustang that has been heavily modified by Ford's Special Vehicle Team (SVT). Available in either coupe or convertible, the SVT Cobra's main calling cards are a totally different engine, a revised suspension, and an improved interior. The Cobra's firepower comes from a 4.6-liter, 32-valve DOHC V8. While based on Ford's family of modular V8s, the Cobra's engine is considerably more advanced. The engine produces 320 horsepower at 6,000 rpm and 317 ft-lbs. of torque at 4,750 rpm.

All Mustangs offer drivers and passengers supportive, upright front chairs, well-placed controls, clear views out the front and side windows, and acceptable dashboard and seat materials. For 2001, Ford upgraded the center console by adding a larger rear cupholder and repositioning the front cupholder, power point, tissue holder and parking brake boot. The standard, deluxe and premium trim groups offer varying levels of standard and optional equipment, with the premium trim group being the most inclusive.

Another advantage of the Mustang is its demeanor on the road. The Mustang's suspension allows the car to be predictable during hard cornering and side-to-side weight transfers are progressive for added stability during high-speed lane changes. The braking and steering have also impressed us. Rough pavement can make the ride uncomfortable in base- and GT-model Mustangs, however, as the rear suspension still uses a solid rear axle.

The Mustang has always been crashworthy, offering drivers and front-seat passengers a high level of protection as rated by the National Highway Traffic Safety Administration. All-speed traction control and antilock brakes are standard on most trim levels. Ford thoughtfully provides a traction-control defeat switch for those people who like roasting the rear tires on a regular basis.

As for the rest of us, Mustang is one of the most recognizable nameplates on the road. And since the Chevrolet Camaro and Pontiac Firebird are scheduled for termination in 2002, the Mustang may be the only pony car left for the new millennium.

2001 Highlights

2001 Ford Mustang GT models get unique hood and side scoops, so that you can tell 'em apart from V6 models. They also receive standard 17-inch wheels, and V6 Convertibles get 16-inch wheels as standard. All cars have a revised center console and blacked-out headlights and spoilers. The Mach 460 stereo system comes with an in-dash six-disc CD changer. A new "premium" trim line is created for both V6 and V8 models. After a one-year hiatus, the Ford SVT Mustang Cobra returns for 2001.

Consumer reviews

Read what other owners think about the Used 2001 Ford Mustang.

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Most helpful consumer reviews

5 out of 5 stars
Best Car I've EVER Owned
Mike P,02/10/2016
GT Premium 2dr Coupe (4.6L 8cyl 5M)
First off let it be know I'm a Firebird guy through and through. I was looking for a Trans Am back in 2006, but didn't find one at a price I was happy with. Lo and behold I spotted my little gem of a GT for sale at a new car dealer. Hands down it is the best car I've ever owned as far as reliability. The only things I've replaced in almost 10 years of ownership has been, the infamous intake manifold, (Ford corrected this defect in 2002 I believe) fuel pump, alternator, brakes, serpentine belt, radio (The Ford CD-6 players are CRAP) along with routine maintenance. I've also replaced both headlamps due to delamination. Power windows still going strong, and I've never even had to replace a bulb or fuse in this thing! It's not as fast or sexy as a Trans AM, but it's way cheaper to maintain, and light years more reliable. Kind of the the girlfriend who would never cheat on you, and has dinner ready and waiting every night when you get home, while the Trans Am is out at the club.
4.13 out of 5 stars
Great car
2dr Coupe (3.8L 6cyl 5M)
I bought my 01 Stang in 2003. I love my Stang. I've taken many road trips and every time I get 30 mpg. I have taken care of my Stang, getting the regular maintenance. I do not race the car, but this thing will get up and go. I will be a Stang man for life.
4.75 out of 5 stars
Great Fun
GT Deluxe 2dr Convertible (4.6L 8cyl 5M)
With a few easy modifications adding up to 335 hp and 3:7:3 gears, this GT is the fastest, quickest fun ride I have ever owned! There's nothing better than feeling the wind in my hair while rocking out to my favorite tunes in this reliable rockship on a perfect spring/summer day or evening!
4.88 out of 5 stars
Loving it now
GT Premium 2dr Coupe (4.6L 8cyl 5M)
I have always hated fords. I own a 97 cavalier z24 myself. has all the mods. getting ready for paint. nice. then i bought my wife her stang. its the 4.6 v8 5 speed. i am totally in love with this car. never thought i could find a ford this comfortable and the dual exhaust sounds awesome. mine now sounds like a [violative content deleted] bumble bee compared to hers. we are still trying to figure out if its a bullit or not. its got alot of the features and designs and the title says bullit gt but it doesnt matter. i am now selling my car to buy one like hers. lol


NHTSA Overall Rating

The National Highway Transportation Safety Administration offers independent analysis.
  • Frontal Barrier Crash Rating
    OverallNot Rated
    Driver5 / 5
    Passenger5 / 5
  • Side Crash Rating
    OverallNot Rated
  • Side Barrier Rating
    OverallNot Rated
    Driver3 / 5
    Passenger3 / 5
  • Combined Side Barrier & Pole Ratings
    Front SeatNot Rated
    Back SeatNot Rated
  • Rollover
    RolloverNot Rated
    Dynamic Test ResultNo Tip
    Risk Of RolloverNot Rated

More about the 2001 Ford Mustang
More About This Model

Mustang fanatics are a finicky bunch. When the redesigned '94s came out, they wondered for two years if and when the 4.6-liter modular V8 would become available in their beloved Pony. Not only did the smooth and silky SOHC 4.6 become the standard bearer in the mainstream GT model for 1996, the DOHC 32-valve motor swiped from the now-departed Lincoln Mark VIII was comprehensively updated and made available in the highbrow SVT Cobra model as well.

Through 1998, SVT's Mustang Cobra carried on as Ford's most exclusive performance vehicle, and it did a good job doing so. For 1999, rumblings and rumors had turned to fact when an independent rear suspension debuted for the first time ever in an American pony car. Along with that IRS came a bump in power for the cammer motor from 305 to 320 horsepower. In theory, at least.

Something else tagged along with that supposed jump in power that Ford didn't bargain for. Controversy ensued about the amount of power '99 Cobras were really making and the result was Ford's pulling the car out of the lineup for the 2000 model year. The 5.4-liter-powered, 385-horsepower Cobra R was the only Mustang sold by SVT last year.

To make a long story short, '99 Cobra owners began wondering about their cars after many realized they didn't run as hard as a 320-horsepower car should. Many ran their cars on the dragstrip and others strapped their Cobras to a chassis dynamometer to see exactly how much power was getting to the wheels. When stories started circulating that '96-'98 Cobras were making more power at the wheels than the '99s in some instances -- even though they were only rated at 305 horsepower -- people began realizing that something was rotten in Denmark...make that Dearborn.

In general, earlier Cobras were making as much as 270 to 280 horsepower at the rear wheels, easily 305 horsepower at the engine's flywheel. We had seen firsthand one '99 Cobra that was being tested before some aftermarket modifications, and it only made 250 horsepower at the drive wheels -- or about 300 horsepower at the flywheel.

Once word got out, Ford issued a recall on '99 Cobras and came up with a retrofit kit that brought the 4.6-liter V8 up to the 320-horsepower level. The problem was that the advent of this package which included a redesigned exhaust system from the catalytic converters back, an ExtrudeHoned intake manifold and a recalibrated EEC-V computer processor didn't come on the scene soon enough for it to be incorporated into 2000 model year Cobras.

Therefore, the car was put on a one-year hiatus, which allowed SVT to put all its eggs in one basket and make the 2001 Cobra as good as they knew enthusiasts would expect it to be.

We're happy to report the largely unchanged Mustang Cobra is back and although we didn't get a chance to track-test it on this First Drive, we certainly look forward to seeing if the '01 will run as good as we hope it will.

Our brief spin in the Cobra made one thing quite clear. SVT didn't change anything on the car that didn't need it. This is still the most advanced and smoothest-driving Mustang ever in the car's four decade history and the hardware that makes it so always merits a quick look at the details.

As one of the most technically advanced engines built by an American automaker, the Cobra's 32-valve, 281-cube V8 is loaded with the good stuff. Making its newfound (we hope) 320-horsepower at 6,000 rpm, there's 317 foot-pounds of torque on tap at 4,750 rpm. Contained within the aluminum block (lesser 4.6-liter engines use an iron block) is a forged-steel crank, which is held in place with six bolts on each main cap. Features such as this are one reason this engine can easily sustain the rigors of making upwards of 500 horsepower with supercharging and other forms of aftermarket tweaking. The engine's aluminum alloy pistons have shallow skirts and a special friction-reducing coating on their surfaces, which also improves durability. Compression is 9.85:1.

Recapping the Cobra's intake system, it begins with a throttle body that's made up of twin 57 mm bores to provide quick throttle response. Next in line is a hefty 80 mm mass air sensor, which feeds into eight tuned runners in the intake manifold. Their design imparts a tumbling motion of the air/fuel charge as it enters the combustion chamber, which increases the mixture's volatility. The "tumble port" cylinder head valve sizes are 37 mm on intake and 30 mm on exhaust. Much the norm these days, Cobra's engine also employs a distributorless, coil-on-plug ignition system that's precise and gives a high-energy spark.

Finally, as has been the case with all Mustang Cobras, each engine is hand-assembled at Ford's Romeo, Michigan engine plant by two-person teams on a separate and dedicated line. Each team's final task is fastening a signature plate, inscribed with their names, onto the passenger-side valvecover.

Standard on the '01 Cobra is an all-speed traction control system (TCS) that allows the driver to spin the drive wheels under acceleration as long as the car is going straight. If TCS senses the car slipping sideways, it will engage. There's also a driver-selectable on/off switch. With TCS activated and either of the two rear ABS/TCS sensors detecting a wheel spinning at a rate higher than its counterpart, the engine's computer processor retards ignition timing and modulates the air/fuel ratio to reduce power to that wheel. The system can detect the difference between wheel spin due to acceleration and from cornering slippage, based on differences in slip rates at the wheels. TCS engine management strategies work at all speeds and the system can apply braking to either rear wheel at speeds up to 62 mph.

To brush up on Cobra's IRS, we'll note it's carried on a tubular steel subframe, which, in turn, bolts to the car as a single unit on the same assembly line as all other Mustangs. The only modification to the car is the addition of two bolt holes and weld nuts near the former Quad Shock mounting holes.

The IRS includes steel upper control arms, aluminum alloy lower control arms, 470 pound/inch coil springs, aluminum spindles, a 26 mm antisway bar and fixed tie rods behind the center of each wheel to control toe alignment during cornering. The aluminum lower control arms are made with a "permanent mold" casting process, which produces precise and lighter weight parts. Cobra's IRS results in a 125-pound reduction in unsprung weight, a 1.2-inch-wider rear track and a quarter-inch-lower ride height.

The benefits of IRS have been known for eons and Cobra drivers enjoy them while behind the wheel, including better steering response and on-center feel, reduced lift and dive characteristics under hard acceleration and braking, and drive wheels that stay better planted during cornering. More suspension travel also reduces the potential for rear suspension bottoming.

Up front, the Cobra is comparable to the GT in design, with 500 pound/inch springs, a 28 mm antisway bar and rack-and-pinion steering with special tuning. Ride height is also a quarter-inch lower than a standard GT's.

Sure the '01 Cobra isn't much different from the '99s other than the supposed infusion of more power. Time will tell on that front. For now, know that this is still the best overall-performing Mustang ever made, and it's loaded with all sorts of features that understandably keep its options list -- a rear spoiler, polished wheels and floor mats -- very short. Power everything, remote keyless entry and a new six-disc CD changer are among the standard features.

With an MSRP of $29,235, the Cobra is by no means dirt cheap. But it stacks up well price- and content-wise against such cars as the BMW 330i coupe, Camaro SS and C5 Corvette. Since it's one of the more desirable American cars being made today, we wouldn't mind having one in our garage.

Used 2001 Ford Mustang Overview

The Used 2001 Ford Mustang is offered in the following submodels: Mustang Coupe, Mustang Convertible, Mustang BULLITT, Mustang SVT Cobra. Available styles include Deluxe 2dr Convertible (3.8L 6cyl 5M), 2dr Coupe (3.8L 6cyl 5M), GT Deluxe 2dr Convertible (4.6L 8cyl 5M), GT Deluxe 2dr Coupe (4.6L 8cyl 5M), Deluxe 2dr Coupe (3.8L 6cyl 5M), GT Premium 2dr Convertible (4.6L 8cyl 5M), Premium 2dr Convertible (3.8L 6cyl 4A), GT Premium 2dr Coupe (4.6L 8cyl 5M), Premium 2dr Coupe (3.8L 6cyl 5M), SVT Cobra 2dr Coupe (4.6L 8cyl 5M), SVT Cobra 2dr Convertible (4.6L 8cyl 5M), and Bullitt GT 2dr Coupe (4.6L 8cyl 5M). Pre-owned Ford Mustang models are available with a 3.8 L-liter gas engine or a 4.6 L-liter gas engine, with output up to 260 hp, depending on engine type. The Used 2001 Ford Mustang comes with rear wheel drive. Available transmissions include: 5-speed manual. The Used 2001 Ford Mustang comes with a 3 yr./ 36000 mi. basic warranty, a 3 yr./ 36000 mi. roadside warranty, and a 3 yr./ 36000 mi. powertrain warranty.

What's a good price on a Used 2001 Ford Mustang?

Price comparisons for Used 2001 Ford Mustang trim styles:

  • The Used 2001 Ford Mustang GT Deluxe is priced between $8,500 and$24,997 with odometer readings between 512 and157494 miles.
  • The Used 2001 Ford Mustang Deluxe is priced between $3,950 and$3,950 with odometer readings between 117879 and117879 miles.
  • The Used 2001 Ford Mustang SVT Cobra is priced between $18,899 and$18,899 with odometer readings between 119168 and119168 miles.

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Can't find a used 2001 Ford Mustangs you want in your area? Consider a broader search.

Find a used Ford Mustang for sale - 5 great deals out of 16 listings starting at $8,333.

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Should I lease or buy a 2001 Ford Mustang?

Is it better to lease or buy a car? Ask most people and they'll probably tell you that car buying is the way to go. And from a financial perspective, it's true, provided you're willing to make higher monthly payments, pay off the loan in full and keep the car for a few years. Leasing, on the other hand, can be a less expensive option on a month-to-month basis. It's also good if you're someone who likes to drive a new car every three years or so.

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