Compare Quotes from Top Providers and Save now!

Ohio the best state to buy a used Ford Mustang, Georgia the worst

The Ford Mustang has been one of America’s favorite cars since 1964. Now in its fifth generation, the Mustang is said to have been the inspiration behind the Toyota Celica and Ford Capri. The sales of the Mustang went up in 2012, and it is also a very popular car in the used car market.  In this feature, we will examine the median price and insurance rate of the Mustang in the different states, to figure out the best and worst states to own a Ford Mustang. We will also factor in the insurance costs of owning the Mustang.

The median price of the mustang ranges from $15,999 in Montana to $26,877 in Vermont. The average annual yearly insurance for the Mustang in Maine is $1,054 (lowest in the U.S.), and in Georgia it is $4131 (highest in the U.S.).

The three best states to buy a used Mustang, considering both the median price and insurance average, are –

1.       Ohio –

Ohio is the second least expensive state to buy a Mustang. The median price is $16,385 in Ohio, and average annual insurance is $1,166. The insurance rate is higher in Montana ($1,964), though the median price in lower. That is why Ohio is a better state to own and insure a Mustang.

2.       Maine –

Maine has the lowest insurance rates. The higher median price here may pose a challenge to Mainers, but they could easily buy the Mustang from another state and have it shipped. Even accounting for transport charges, they should be able to save a huge chunk on the cost of the car. Also, their overall costs will be lower because of the low insurance rates in Maine.

3.       Iowa –

The average annual insurance of the Mustang in Iowa is $1,131. This is merely 6% of the median price ($18,623).

On the other hand, the three worst states to own and insure a used Mustang in the United States are –

1.       Georgia –

Usually states which have a higher insurance rate are the states which offer the car for a lower median price. However, in Georgia, you’ll pay through your nose for both the purchase as well as insurance of your car. The median price of the Mustang is $19,981, and the insurance average is a whopping $4,131, which is 20% of the median price.

2.       Michigan –

The average annual insurance rate for a used Ford Mustang is $3,164 in Michigan, i.e., 17% of the median price.

3.       Louisiana –

With a high median price ($19,995) and steep insurance average ($2,830), Louisiana is one of the worst states to buy a Mustang. If you live here, you might want to consider buying the car from Montana and having it shipped. You could lower your insurance costs by installing an anti-theft device on your car.  

Average Yearly Insurance Premium $1,760
Ford Mustang MSRP $32,980
Estimated Monthly Income to Afford a Ford Mustang Car including Insurance $620

Ford Mustang - Average Insurance Price by Segment

Male $1,970
Male Married $1,730
Female $1,040
Female Married $1,000
Teenage Boy $4,390
Teenage Girl $2,640

Ford Mustang Safety Features - 2013

Side airbags: front seat-mounted combination head and torso airbags Electronic stability control Antilock brakes Daytime running lights (optional on vehicles sold to fleets)

Expensive States for Insuring Ford Mustang

RankStateAverage Insurance of Ford MustangMSRPEstimated Monthly Income to Afford a Ford Mustang including Insurance Cost
1 Georgia $3,400 $26,800 $540
2 Michigan $3,000 $36,200 $690
3 Louisiana $2,900 $33,500 $650
4 Oklahoma $2,300 $27,500 $530
5 Montana $2,200 $29,800 $570
6 Connecticut $2,200 $29,800 $570
7 California $2,100 $31,700 $600
8 West Virginia $2,000 $35,600 $670
9 Rhode Island $2,000 $29,500 $560
10 Pennsylvania $2,000 $32,900 $620

Cheap States for Insuring Ford Mustang

RankStateAverage Insurance of Ford MustangMSRPEstimated Monthly Income to Afford a Ford Mustang including Insurance Cost
1 Maine $1,100 $35,800 $650
2 Iowa $1,200 $30,700 $570
3 Idaho $1,200 $36,100 $660
4 Indiana $1,300 $33,700 $620
5 North Carolina $1,300 $32,100 $590
6 Ohio $1,300 $28,800 $530
7 Wisconsin $1,300 $135,000 $2,410
8 New Hampshire $1,400 $43,500 $800
9 Washington $1,400 $30,500 $570
10 Arizona $1,500 $29,200 $540

Ford Mustang - Remaining States under Study

RankStateAverage Insurance of Ford MustangMSRPEstimated Monthly Income to Afford of Ford Mustang including Insurance Cost
1 Colorado $1,500 $33,700 $620
2 Florida $1,500 $31,500 $580
3 Illinois $1,500 $37,000 $680
4 Mississippi $1,500 $29,200 $540
5 New York $1,500 $32,900 $610
6 South Carolina $1,500 $31,300 $580
7 Vermont $1,500 $29,800 $550
8 Kansas $1,600 $25,900 $490
9 Nebraska $1,600 $29,800 $560
10 Nevada $1,600 $29,800 $560
11 Oregon $1,600 $33,000 $610
12 Tennessee $1,600 $29,000 $540
13 Utah $1,600 $31,500 $590
14 Virginia $1,600 $29,800 $560
15 Alaska $1,700 $31,300 $580
16 Massachusetts $1,700 $31,900 $600
17 North Dakota $1,700 $27,400 $520
18 New Mexico $1,700 $29,800 $560
19 Wyoming $1,700 $25,600 $480
20 Delaware $1,800 $29,800 $560
21 Hawaii $1,800 $31,900 $600
22 Maryland $1,800 $28,800 $540
23 Minnesota $1,800 $27,500 $520
24 Alabama $1,900 $30,700 $580
25 Arkansas $1,900 $30,700 $580
26 Missouri $1,900 $25,900 $490
27 New Jersey $1,900 $29,800 $560
28 Texas $1,900 $26,300 $500
29 Kentucky $2,000 $25,500 $490

Ford Mustang Models Comparison

Model Style Cylinders MSRP Average Premium of Ford Mustang models Est. Monthly Income to Afford a Ford Mustang including Insurance Cost
Mustang 2 Door Convertible 6 cyl. $33,000 $1,430 $610
Mustang 2 Door Coupe 6 cyl. $33,000 $1,440 $610
Mustang Boss 302 2 Door Coupe 8 cyl. $33,000 $2,020 $620
Mustang GT 2 Door Coupe 8 cyl. $33,000 $1,720 $620
Mustang GT 2 Door Convertible 8 cyl. $33,000 $1,740 $620
Mustang Shelby GT500 2 Door Convertible 8 cyl. $33,000 $1,960 $620
Mustang Shelby GT500 2 Door Coupe 8 cyl. $33,000 $2,050 $620

Ford Mustang vs Sports cars Insurance Comparision