It’s the car that epitomises America. Powerful, fast and with the looks to boot, the Ford Mustang has been an iconic model since the very first concept was showcased back in 1962.

Two years and another concept later, the Mustang rolled off Ford’s production line, and soon became the carmaker’s most successful launch since the Model A of the late 1920s.

In the intervening 52 years, the Mustang has seen a variety of guises, from the angular first generation which was produced until 1973, to the more understated fourth generation, which was built from 1994 to 2004.

While the exterior design may have changed over the years, one thing that all Mustangs share is the potent powertrain under the bonnet.

The latest, sixth generation Mustang went on sale in 2015, and its muscular appeal combined with its impressive engines marked it out as an instant success.

While the Mustang only comes with two engine options, the 2.3-litre EcoBoost and the 5.0-litre V8 GT, various trims can be chosen to create different options.

Thinking of a Mustang but unsure of which? Fear not, here at we have picked out the ideal model for three different price points.

The smart choice for those on a budget: – Mustang 2.3-litre EcoBoost Fastback

Ok, let’s face it. If you’re buying a Mustang, then chances are you’re not on exactly a low budget. However, for those looking to spend as little as possible on this American icon, the Fastback 2.3-litre EcoBoost engine with direct injection and twin-scroll turbocharger is the one to go for. Costing from only £31,745 with a six-speed manual transmission, this Mustang may be stock, but offers a thrilling drive and is still guaranteed to turn heads.

The choice of either a ‘race’ red or ‘grabber’ blue body colour as standard is complemented by the ebony or ceramic leather interior trim – again both standard options.

The car features fully independent front and rear suspension, a limited slip differential, electronic stability control with three settings, a performance brake system featuring four-piston front callipers and Electronic Brake Prefill, and four driving modes of snow/wet, normal, sport and track.

Other highlights include 19-inch black alloy wheels, a SYNC 3 8-inch colour touchscreen with nine-speaker DAB radio, USB & Bluetooth connectivity, voice control and Ford Emergency Assistance and track apps with accelerometer technology (for track use only).

The smart choice for value for money – Mustang 2.3-litre EcoBoost Convertible

The second option is near identical to the first, however for only £5,000 more, drivers can benefit from a convertible roof, and automatic six-speed transmission.

The smart choice for technophiles – Mustang 5.0-litre V8 GT convertible

Finally, those on an unlimited budget, and wanting the most technologically advanced Mustang should opt for the 5.0-litre V8 GT convertible. Prices for the six-speed manual gearbox model start at £39,245.

While it boasts the same standard exterior colour and interior trim options, all similarities to its less powerful baby brother end there.

The 5.0-litre V8 quad cam 32-valve engine features an induction sound tube, while the performance braking system of the 2.3-litre EcoBoost has been uprated to feature Brembo 6-piston front callipers and Electronic Brake Prefill.

Added detail across the car includes a GT front grille featuring vertical power bars and ‘GT’ and ‘5.0’ badging on the front wings and bootlid.

Finally, the piece de résistance of the 5.0-litre V8 is its track-only features of electronic line lock and launch control – the ultimate for any technophile.

Activate the former and the front brakes will electronically be locked independently of the rear, allowing the driver to perform a burn out.

Meanwhile, launch control means the driver can get the optimum acceleration off the line from the car.