The 2007 Ford Mustang, an automotive legend, is currently offered in twelve models: the V6 Deluxe for $19,995; the V6 Deluxe Convertible $24,820; the V6 Premium $20, 990; the V6 Premium Convertible $25,815; the GT Deluxe $26,440; the GT Deluxe Convertible $31,265; the GT Premium $27,620; the GT Premium Convertible $32,445; the Shelby GT 500 $41,675; the Shelby GT Convertible $46,500; the V6 Pony Package $21,740; and the GT Cal Special Package $29,515.

Mustang V6 models have a 4 liter, 12-valve V6 producing 210 horsepower (19 mpg city, 28 highway.) The standard transmission is a manual with five speeds with an option for a comparable automatic. The GT models are equipped with a 4.6 liter, 24-valve V8 generating 300 horsepower (17 city / 23 highway). The standard transmission is a TR3650 five-speed manual with an option for a five-speed automatic. The Shelby GT500 has a 5.4 liter, 32-valve V8 producing 500 horsepower (15 city / 21 highway) and comes equipped with a T-56 manual transmission with six speeds (the sole transmission option for the model.)

The four-passenger 2007 Ford Mustang line features bucket seats in the front that recline while rear seating is handled by a bench with a traditional 50/50 split. AM/FM/CD combos are standard with Shaker 500 and 1000 audio systems available and SIRIUS Satellite Radio optional.