1983 Ford Mustang 5.0 GT

3dr Hatchback

8-cyl. 5.0L 302cid/175hp 4bbl HO

#1 Concours condition#1 Concours
#2 Excellent condition#2 Excellent
#3 Good condition#3 Good

$12,900*

-4.4%
#4 Fair condition#4 Fair
Value Graph04/2407/2410/24$5k$10kJan 2025

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1979-1993 Ford Mustang stats
Number produced **
27,649
Highest sale
$231,000
Lowest sale
$1,210
Most recent sale
$40,425
Sales
2165
** Number produced is specific to this year and configuration.
Explore Hagerty Price Guide values for this generationResearch values for all configurations from this generation on a single page
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Photos

44 photosImages may not reflect selected vehicle.

1990 Ford Mustang 5.0 GT 3dr Hatchback Courtesy of Classic Auto Mall
1990 Ford Mustang 5.0 GT 3dr Hatchback Courtesy of Classic Auto Mall
1990 Ford Mustang 5.0 GT 3dr Hatchback Courtesy of Classic Auto Mall
1990 Ford Mustang 5.0 GT 3dr Hatchback Courtesy of Classic Auto Mall
1990 Ford Mustang 5.0 GT 3dr Hatchback Courtesy of Classic Auto Mall
1990 Ford Mustang 5.0 GT 3dr Hatchback Courtesy of Classic Auto Mall
1990 Ford Mustang 5.0 GT 3dr Hatchback Courtesy of Classic Auto Mall
1990 Ford Mustang 5.0 GT 3dr Hatchback Courtesy of Classic Auto Mall
1990 Ford Mustang 5.0 GT 3dr Hatchback Courtesy of Classic Auto Mall
1990 Ford Mustang 5.0 GT 3dr Hatchback Courtesy of Classic Auto Mall
1990 Ford Mustang 5.0 GT 3dr Hatchback Courtesy of Classic Auto Mall
1990 Ford Mustang 5.0 GT 3dr Hatchback Courtesy of Classic Auto Mall
1990 Ford Mustang 5.0 GT 3dr Hatchback Courtesy of Classic Auto Mall
1990 Ford Mustang 5.0 GT 3dr Hatchback Courtesy of Classic Auto Mall
1990 Ford Mustang 5.0 GT 3dr Hatchback Courtesy of Classic Auto Mall
1990 Ford Mustang 5.0 GT 3dr Hatchback Courtesy of Classic Auto Mall
1990 Ford Mustang 5.0 GT 3dr Hatchback Courtesy of Classic Auto Mall
1990 Ford Mustang 5.0 GT 3dr Hatchback Courtesy of Classic Auto Mall
1990 Ford Mustang 5.0 GT 3dr Hatchback Courtesy of Classic Auto Mall
1990 Ford Mustang 5.0 GT 3dr Hatchback Courtesy of Classic Auto Mall
1990 Ford Mustang 5.0 GT 3dr Hatchback Courtesy of Classic Auto Mall
1990 Ford Mustang 5.0 GT 3dr Hatchback Courtesy of Classic Auto Mall
1990 Ford Mustang 5.0 GT 3dr Hatchback Courtesy of Classic Auto Mall
1990 Ford Mustang 5.0 GT 3dr Hatchback Courtesy of Classic Auto Mall
1990 Ford Mustang 5.0 GT 3dr Hatchback Courtesy of Classic Auto Mall
1990 Ford Mustang 5.0 GT 3dr Hatchback Courtesy of Classic Auto Mall
1990 Ford Mustang 5.0 GT 3dr Hatchback Courtesy of Classic Auto Mall
1990 Ford Mustang 5.0 GT 3dr Hatchback Courtesy of Classic Auto Mall
1990 Ford Mustang 5.0 GT 3dr Hatchback Courtesy of Classic Auto Mall
1990 Ford Mustang 5.0 GT 3dr Hatchback Courtesy of Classic Auto Mall
1990 Ford Mustang 5.0 GT 3dr Hatchback Courtesy of Classic Auto Mall
1990 Ford Mustang 5.0 GT 3dr Hatchback Courtesy of Classic Auto Mall
1990 Ford Mustang 5.0 GT 3dr Hatchback Courtesy of Classic Auto Mall
1990 Ford Mustang 5.0 GT 3dr Hatchback Courtesy of Classic Auto Mall
1990 Ford Mustang 5.0 GT 3dr Hatchback Courtesy of Classic Auto Mall
1990 Ford Mustang 5.0 GT 3dr Hatchback Courtesy of Classic Auto Mall
1990 Ford Mustang 5.0 GT 3dr Hatchback Courtesy of Classic Auto Mall
1990 Ford Mustang 5.0 GT 3dr Hatchback Courtesy of Classic Auto Mall
1990 Ford Mustang 5.0 GT 3dr Hatchback Courtesy of Classic Auto Mall
1990 Ford Mustang 5.0 GT 3dr Hatchback Courtesy of Classic Auto Mall
1990 Ford Mustang 5.0 GT 3dr Hatchback Courtesy of Classic Auto Mall
1990 Ford Mustang 5.0 GT 3dr Hatchback Courtesy of Classic Auto Mall
1990 Ford Mustang 5.0 GT 3dr Hatchback Courtesy of Classic Auto Mall
1990 Ford Mustang 5.0 GT 3dr Hatchback Courtesy of Classic Auto Mall
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Model overview

Model description

In 1983, Ford offered a Mustang Convertible for the first time since 1973. These cars were not designed from the outset as convertibles, but rather left the factory as coupes and were sent to third-party company Cars & Concepts of Brighton, Michigan for conversion.

The sophomore year of the GT Mustang would see the carburetor of the 5.0-liter V-8 upgraded to a Holley four-barrel unit. This raised output to 175 horsepower and 245 pound feet of torque, sent through a new Borg-Warner 5-speed manual transmission and an updated 3.27:1 rear end. Wider Michelin tires helped put power to the road and an enlarged stabilizer bar added to the enhancements. According to Ford, the Mustang GT 5.0 could get from 0-60 mph in under seven seconds. Its 175-hp output made it the most powerful Mustang since 1973.

A turbocharged Mustang returned for 1983, but without the gaudy Cobra graphics. Available on the GT, the 2.3-liter, four-cylinder turbo made 145 horsepower and 180 pound-feet of torque. The base engine continued to be an anemic 88-hp four cylinder, but a mid-range 3.8-liter V6 now made 112hp.

Slight styling revisions included a smoother nose, updated taillights, and a reverse hood scoop. The Ford Blue Oval logo replaced F-O-R-D block lettering for this year.

The presence of the convertible option and the availability of the T-Tops meant Ford no longer had to offer the dated “Carriage roof.” The Ford Mustang was offered in L, LX, and GLX levels. 120,873 Fox body Mustangs were sold in 1983.

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Common Questions

The value of a 1983 Ford Mustang 5.0 GT can vary greatly depending on its condition, mileage, options, and history. Typically, you can expect to pay around $13,700 for a 1983 Ford Mustang 5.0 GT in good condition with average spec.

The highest selling price of a 1983 Ford Mustang 5.0 GT at auction over the last three years was $31,900. The highest prices are usually reserved for rare or exceptionally well-maintained examples with desirable features or modifications and excellent history.

The lowest selling price of a 1983 Ford Mustang 5.0 GT at auction over the last three years was $8,800. The lowest prices are usually paid for examples that have extensive maintenance needs, differ greatly from their original configuration, or have accident histories or title problems.

In the last three years there have been 5 1983 Ford Mustang 5.0 GTs sold at public auction.

The most recent auction sale of a 1983 Ford Mustang 5.0 GT was $31,900 on July 28, 2023 by Mecum Auctions.

Many factors can increase a car's value including excellent condition, exceptional originality, a recent restoration, low mileage, unique provenance, desirable options, popular or unique color choices, and excellent maintenance records. Upgrades and modifications that enhance performance or aesthetics can also add value.

Factors that can decrease a car's value include unusually high mileage, poor maintenance history, visible wear and tear, accidents or damage, title issues, and gaps in ownership history. Additionally, less popular color choices and extensive modifications that don't appeal to a broad audience can reduce value.

Mileage plays a significant role in a classic car’s value. Lower mileage usually increases value because it indicates a higher degree of originality, is rarer, and suggests less wear and tear. However, cars with exceptionally low mileage may also have maintenance needs due to lack of use. Whether someone should pay more for a vehicle with lower miles will depend on how they plan on using it, and the vehicle's specific condition.

The value of modified cars differs widely based on the type and quality of modifications. While some modifications can significantly increase value, especially performance enhancements and high-quality custom work, others may not add much or could even detract from the car’s value if they appeal to only a limited audience.

All prices shown here are based on various data sources, as detailed in About Our Prices. The Hagerty Price Guide is for informational purposes only and is not intended as financial advice. More information on how forecast models are calculated can be found on Forecasted Values page. For additional information and a complete description of benefits, visit hagerty.com/legal. Purchase of insurance not required for membership in HDC. Hagerty, Hagerty Valuation Tools & Hagerty Drivers Club are registered trademarks of The Hagerty Group LLC, ©2025 The Hagerty Group, LLC. All Rights Reserved. The Hagerty Group, LLC is a wholly owned subsidiary of Hagerty, Inc.

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