Welcome to 2026, where everything comes at a cost, a big one. You want reliability? Speed? Style? Fun? Well pay up because even a used 25-year-old example of the best known V8 pony car can cost a hefty price. So if you want a used Mustang on a budget, you have two options, buy a cheap V8 model that has likely been wrecked, or commit the cardinal sin of the internet muscle car community… buy a V6 version. 

Photo Credit: Ryan Dieterich

But the point of a Mustang is to be fun and stylish without breaking the bank. It’s safe to say that an old V6 Mustang will easily fall into the affordable category, but will it meet the other two priorities: style and fun.

Well style may be in the bag here. The SN95 may not be regarded as the best-looking Mustang, but it carries on the classically recognizable traits of the Mustang. The long hood, and short rear deck lid make up the iconic silhouette that the Mustang came out with in 1964, and helped it define the “pony car” segment.

The “New Edge” Mustang, introduced in 1999, specifically makes good use of the SN95 platform’s proportions. With sharp styling that made it stand out a bit more than the earlier pre-facelift SN95s. The New Edge also gives you some iconic Mustang styling cues, such as the vent, and character lines on the side, or the 3 vertical taillights in the rear, which hearken back to the source material, while still looking aerodynamic and modern (for the Y2K era).

That trend continues inside, where the Mustang sports an interior that calls back to the original, while still being at home within its own time period. The interior, designed by Emeline King, features a dual binnacle dashboard, like the original, but it is more round and curvaceous, like you would expect on a car from the 1990s.

That design may look good, and more unique than any other entry level car of that era, but it still feels like every other entry level car from that era. Car interiors of the 1990s have never been accused of being too well made. The plastics haven’t aged well, some parts don’t fit right, some things have long been cracked, the door panels groan in protest when you go to close them and many of the plastic clips have left the chat, leaving the car with a handful of “quick release” interior panels.

Now if you are disappointed to find out the interior quality doesn’t hold up to modern standards then rest assured… neither does the performance. The 3.8L Essex V6 makes 193 horsepower, and sends the Mustang from 0-60 in 7.8 seconds. If you can find a deal on one with the 4.6L V8, then that is bumped up to 265 horsepower, and a 0-60 time of 5.6 seconds. But both will likely lose a drag race to a new 2026 ecoboost Mustang, which gets 315 horsepower from its 2.3L four-banger, and a quoted 0-60 time of 4.5 seconds.

The handling isn’t made to blow you away either. The Mustang, through most of its history, has featured a live rear axle. Which is another word for “solid rear axle.” Nowadays, most cars, except pickup trucks and some off-road SUVs, use independent suspension, which improves handling and ride quality. The technology isn’t new, it has been in cars since the 1920s, and many vehicles had utilized it by the time the SN95 was in development in the early 1990s. Even some other, two-door coupes such as the Toyota Celica, had independent rear suspension at the time.

The downside to this is that both rear wheels are connected by a solid axle. When one side hits a bump, it can upset the other side as well. Independent suspension allows each wheel to react to the road separately, which generally improves both ride quality and handling.

The SN95 was available with independent rear suspension, but only on the SVT Cobra models, and good luck finding one of those on a budget.

But the thing to remember is that the goal shouldn’t just be to beat every modern car on the road. It has been said many times before, that slow car fast is better than fast car slow. That adage holds up here, and on most old performance cars. The truth is this is still an enjoyable car. It won’t win you any races, not against a modern car. And it won’t handle like a go-kart, but it is enjoyable. The alternative here is a used Accord or Camry, and in that case, you will likely find yourself enjoying the old Mustang far more than an old family sedan.

And besides, a V6 isn’t the end of the world. Plenty of cars are still fun without the biggest available engine. An old SN95 Mustang is still a car that you can enjoy, a car that you can have fun with. You can try your hand at modifying it, maybe you get more speed but this is a car where the journey matters more. It is the fact that you have something interesting and fun that counts.

So for that, the SN95 Mustang makes for a great fun on a budget. Chances are, you are gonna make more money, and save more money in the future, and you will be able to get a better, faster, nicer car. But even then, from the peaks of success, you’ll still remember that old SN95.