The beauty of the used car market is that securing yourself a high-performance vehicle for the same price as a brand-new runabout is a very realistic proposition. Depreciation takes hold the moment a new car first exits the showroom and begins its life on the road, and some higher-end machines struggle more than most to hold their original value. While this can be frustrating for those who shell out the cash to get one brand-new, it presents a golden opportunity for bargain hunters to net themselves an amazing car they could only have dreamed of owning new a few years down the line.
The Ford Mustang Mach-E GT is one such tantalizing option, with early examples of the model now having celebrated their fifth birthday. Depreciation hits EVs hard, and you can now have a clean specimen for less than the cost of a new Mazda Miata.
The Mach-E GT Is A Proper Powerhouse
2021 Ford Mustang Mach-E GTFord
2021-2023 Ford Mustang Mach-E GT
Powertrain
Dual electric motors
Power
480 hp
Torque
600 lb-ft
0-60 mph
3.8 seconds
Average Value
$27,621-$34,289
While the Mustang Mach-E has proven to be a rather divisive model thus far, primarily because this electric crossover shares a name with Ford’s iconic muscle car, there’s no doubt about the range-topping model’s performance. Known as the GT, it comes loaded with a potent dual-motor powertrain shared between the front and rear axles. Peak power sits at a strong 480 horsepower, though its 600 lb-ft torque figure is the real hero of the hour. Since it’s an EV, torque is delivered to the wheels instantaneously, which tends to leave most of your internal organs at your previous destination.
In fact, the Mach-E GT can launch past the 60 mph barrier in a blazing 3.8 seconds, which is quicker than most sports cars on the market today. Part of the reason for this neck-breaking pace is the car’s eAWD system, made possible by an electric motor on each axle. The Mach-E is primarily rear-wheel drive, but the setup can send power to the front wheels if it senses even the slightest hint of wheelspin. This allows the Mach-E to put its commanding power figures on the road, rather than simply sitting still and spinning all its power into the ether.
An independent suspension arrangement and a Brembo braking system are on hand to ensure the vehicle feels sportier, but it’s no sports car, given its nearly 5,000-pound weight. Still, its intoxicating straight-line prowess means you can have a ton of fun just blasting away from most machinery you line up against.
It May Not Be A True Mustang, But It’s Faster Than One
Blue Ford Mustang Mach-E GT pictured driving down a road at night. Ford
For the most part, you’d have more fun around a track or twisty road behind the wheel of a proper Mustang GT, partly due to the heavenly soundtrack of the Coyote V8 being sung at you. It’s also the better handling option due to its lower center of gravity and lighter frame. The Mach-E GT’s relentless grunt will easily take care of it on the straight bits, though, seeing as the Mustang GT takes four seconds to hit 60 mph.
While the two cars share the same 480 hp peak power figure, the Mach-E’s vastly superior torque potential makes the difference, despite it tipping the scales at well over 1,000 pounds more.
Early Mach-Es Are Criminally Cheap In 2026
2021 Ford Mustang Mach-E GT Performance exterior close-up shot of charging cable plugged inFord
While you may be happy to trade the Mach-E GT’s torque for the Mustang GT’s superior handling and soundtrack, there is another element that could swing you towards the Mach-E. Used examples are remarkably cheap at the moment, especially those built early in the model’s production run between 2021 and 2023. Vehicles of this age can easily be had for less than $30,000, and with decent mileage on the clock to boot.
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The electric Mustang Mach-E crossover moved more than 20,000 units in the third quarter of 2025, while the pony car did a hair over 9,000.
In fact, you can easily find yourself a tidy 2022 Mach-E GT with around 50,000 miles on the clock for around the $25,000 mark. This is around $13,000 less than a similarly aged Mustang GT and a good $5,000 cheaper than even a brand-new Miata. For a car that can hit 60 mph in comfortably under four seconds, and at just a few years old with relatively low mileage in the grand scheme of things, this is a hell of a saving. Spend the full wedge of a new MX-5, and you shouldn’t find it too difficult to find a 2023 machine with less than 30,000 miles on the clock.
Ford’s Rapid EV Has Depreciated Considerably In Just A Handful Of Years
2021 Ford Mustang Mach-E GTFord
The Mach-E GT’s value is even sharper when you consider how much the EV cost when it left the dealership just a few years ago. A 2022 example would have set you back $61,995 just four years ago, and that was before you’d even cast an eye over the options menu. Based on the current average value for that model year, which is $29,523, you’re looking at a 52.3% decrease over this short timeframe.
This level of depreciation is terrible news for those who purchased one brand-new. Still, it signifies an incredible opportunity for used-car buyers to secure a clean $60,000 car for less than half that price after just a few years of service.
The Mach-E GT Is Also Pretty Practical
2021 Ford Mustang Mach E rear seatsFord
Another advantage of opting for the Mach-E GT is that, as far as rapid performance cars go, it’s pretty practical. The compact crossover body offers plenty of room for your family, with cabin space comparable to other popular electric crossovers like the Hyundai Ioniq 5. The Mustang’s sloping roofline means it’s a little compromised in terms of headroom, especially out front, but it scores well for legroom.
It also performs solidly when you factor in the vehicle’s trunk capacity. Whereas the Ioniq 5 can only muster 26 cubic feet of space out back, the Mustang wades into battle with 29 cubic feet of room. Plus, there’s another couple of cubic feet of space to use thanks to its front-mounted frunk, so you’ll be able to carry a decent amount more than its Korean rival. It goes without saying that it comfortably gets the better of more focused sports cars like the Mustang GT and MX-5 in this regard, too, with the latter not even coming with any rear seats.
Being the range-topping variant, it also gets plenty of creature comforts as standard. Your $25,000 or so will net you heated seats and a heated leather steering wheel, a premium sound system, adaptive cruise control, and a selection of potentially life-saving safety features like autonomous braking and blind-spot assist. The Mach-E is truly a $60,000 car that you’ll only need to hand over $25,000 for, but unlike other heavily depreciated models, it’s difficult to go too far wrong. Well, almost.
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Early Mach-Es Can Be Problematic
2021 Ford Mustang Mach-E GTFord
While the Mach-E GT has proven pretty solid for the most part, earlier examples suffered from the age-old problem of being the first to market. It’s hard for manufacturers to iron out every little problem before their shiny new cash cow reaches the public domain, and the Mach-E is no exception. A total of 12 recalls have been issued for the 2021-2023 Mach-E, with one of the most serious being an overheating drive battery that could cause the entire powertrain to shut down. This issue and other electrical-related problems were rectified by over-the-air software updates, but make sure that any early Mach-E has these updates applied before you buy.
Biggest 2021-2023 Ford Mustang Mach-E GT Recalls
Recall
Units Affected
Rearview Camera Image Malfunctions
1,076,138
Electrical Door Locks And Latches Fail During Times Of Low Battery Charge
197,432
High Voltage Battery Overheats, Causing Loss Of Power
83,686
Windshield Not Properly Bonded To Vehicle
17,692
Other annoying issues included loose windshields caused by a lack of a bonding agent. Plus, the company recalled nearly 200,000 units due to a problem that caused the locks and latches on the vehicle doors to keep the doors firmly locked when the battery got too low.
Aside from the various recalls that have been issued so far, which Ford has taken care of free of charge, the only other issues tend to be minor problems that most cars experience. The issues include a slightly laggy infotainment UI that various owners have reported.
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But the Mustang story is far from over.
All in all, the Mach-E GT is a very solid choice if you’re looking to get into the world of EVs, but don’t fancy spending the considerable outlay needed to secure a new variant. The Ford delivers thrilling performance, offers good space for average-sized families, is well-equipped, and can be had for less than half its original MSRP despite low mileage and being just a few years old. As long as you make sure the example you spend your hard-earned dollars on has been properly maintained by its previous owner, you’d have a load of car for the money.
Sources: Ford, NHTSA.
