A man went to a CarMax dealership to check out a 2016 Ford Mustang GT Premium with 87,000 miles. He left stunned by the sticker price and proposed financing numbers.

TikTok creator Trace (@tracedoesit) posted a video with his thoughts while at the lot. “So I’m at this CarMax dealership, but this is what’s crazy to me,” Trace says. “This is a no-haggle price [on a] 2016 Ford Mustang GT Premium. It has 87,000 miles on it. It’s a six-speed manual. They want $27,000 for it. And these payments.”

Trace shows viewers the "understanding monthly payment” section of the sticker on the car. It says that a “very good" interest rate is 8.95%, a “fair” rate is 16.95%, and a “challenged” rate is 22.95%. Those rates make for payments of $504 per month, $622 per month, and $719 per month, respectively.

Trace wasn't impressed. “For a 2016,” he says. “I don’t know about you guys, but these prices have gotten outrageous. These payments have gotten outrageous. A couple years back, this Mustang wouldn’t have been close to that. This would’ve been in the teens. Now they’re asking close to $30,000. Guys, please shop around.”

It’s important to note that these numbers are based on a 72-month loan with zero down payment.

Regardless, viewers in the comments section said they would avoid this deal at all costs.

“That’s not worth more than $15,000,” said one person.

“That is a crazy price for a 10-year-old car,” a second person argued. 

A third person joked, “That’s why it’s still on the lot.”

Another person observed, “Those are credit card interest [rates].”

Gallery: Ford Mustang Generations: Original To S650

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Source: Ford

What Is Going on with the Price of Mustangs?

A Reddit user posted to r/Mustang nine months ago to ask a similar question. “Any reason why Mustangs are almost double the price from 8 years ago?”

The post includes a screenshot of a price listing for a brand-new 2017 Ford Mustang GT Premium, which cost just over $34,000 at the time. A second screenshot shows a 2025 Ford Mustang GT Premium going for a little over $66,000.

In the comments section, Mustang enthusiasts attribute the rising cost to a decrease in competition, inflation, and tariffs. Dodge stopped making the Challenger and the Camaro after 2023, both of which competed with the Mustang for market share.

“The Mustang doesn’t have to compete against the Camaro and the Challenger for sales anymore,” wrote one person.

“As a Dodge guy, I refuse to accept the Charger Daytona as a direct competitor, and even if you did, they cost as much if not more than $60,” a second person wrote. “And, obviously, the Camaro no longer exists. And all the Japanese competition is similarly priced. The second and probably final golden age of American Muscle is pretty much over.”

According to Edmunds, part of the issue could also just be that the Mustang is still very popular and tends to move off of lots in short order. And while they aren’t exactly rare, some of the higher trim levels are harder to come by and therefore could come at a higher cost.

In an email to Motor1, a CarMax representative wrote, "Vehicle pricing is influenced by a variety of factors, including a vehicle's age, mileage, condition, features, local market conditions, and current market data. Before a vehicle is offered for sale, CarMax invests in preparing it for retail, and only vehicles that meet our retail standards are offered for sale to customers. CarMax also offers upfront pricing with no dealer fees. Every vehicle comes with a free vehicle history report, a 10-Day Money-Back Guarantee, and a 30-Day Limited Warranty."

Motor1 contacted Trace via email for comment. We'll update this if he responds.