Summary

• With 343 currently listed for sale near Chicago, IL and an average price of $35,885.00, 33.2% of 2023 Ford Mustangs for sale on CarGurus are rated as good or great deals.

• Favorably reviewed: Owners rated the 2023 Ford Mustang 5 / 5 stars.

• 100.0% of 2023 Mustang models on CarGurus are accident free.

Why it stands out

The 2023 Ford Mustang stands out because it sits at the end of the sixth generation, a long-running redesign that began for the 2015 model year and brought a sleeker, smoother look, coupe and soft-top convertible body styles, and a new electric system for the convertible top. It also marked the first time Ford produced and marketed the Mustang for a global audience, and it was the first Mustang to feature Ford’s EcoBoost engine lineup. A new independent rear suspension system was another key part of that ground-up redesign, helping define this generation’s more modern driving character.

For 2023, the Mustang’s appeal comes from its broad range of powertrains and transmissions. Ford’s EcoBoost turbocharged 2.3-liter inline four-cylinder engine powers base Mustangs in this generation, while other available engines include a 3.7-liter V6, the 5.0-liter Coyote V8, and two versions of the 5.2-liter V8, exclusive to the Shelby GT350 and the GT500. Transmission choices, depending on engine, include two six-speed manuals, six- and 10-speed automatics, and a seven-speed dual-clutch automatic. That variety helps the Mustang cover a wide spread of buyers, from those who want an accessible sports car to those looking for more serious performance.

There are tradeoffs, though. Models with the EcoBoost engine are known for problems with oil consumption and potential head gasket failure, and the transmission may be prone to slippage. For shoppers considering a used 2023 Mustang, that means condition and maintenance history matter a lot. Even so, the car’s combination of iconic styling, rear-wheel-drive layout, and wide performance range keeps it appealing, and owner feedback reinforces that mix of performance, looks, and value.

Other model years to consider

• 2025 Ford Mustang

  • Average price: $45,488.00
  • Good/great deal percentage: 36.0%
  • User rating: 5 / 5
  • Total listings: 336

• 2020 Ford Mustang

  • Average price: $25,176.00
  • Good/great deal percentage: 26.0%
  • User rating: 4.73 / 5
  • Total listings: 288

• 2021 Ford Mustang

  • Average price: $32,075.00
  • Good/great deal percentage: 25.5%
  • User rating: 4.71 / 5
  • Total listings: 282

These recommendations are based on CarGurus' proprietary market data from August 11, 2026, CarGurus experts' opinions, and generative AI.