Prices for Ford’s new Mustang are so low, and residuals so strong, that it could be one of the best-value large coupes for fleet users – provided they don’t cover galactic mileages.

Costs for the 2.3 Ecoboost coupe stand at 71.3p per mile, with benefit-in-kind charges of £150/£301 for 20%/40% taxpayers, somewhat offsetting mediocre 35.3mpg economy. Unsurprisingly, the V8 option is significantly pricier at 89.3ppm, with convertible models adding a further 8ppm.

BMW’s 430i M Sport coupe, meanwhile, weighs in at 76.5ppm (with £151/£302 BIK) with Audi’s A5 2.0 TFSI SE Quattro standing at 76.2ppm (with BIK of £135/£270) and Mercedes’ C300 coupe 73.6ppm with £141/£282 BIK. Even Lexus’s hybrid RC300h is 73.2ppm, although lower CO2 mean meagre BIK costs of £99/£198.

Despite manageable fleet costs, keen drivers should have just as much fun in the 2.3 as in the V8, as there is little difference in acceleration. The weighty steering, slick gear change and snarl from the engine (in sport mode at least) make the Mustang feel more exciting than mainstream alternatives too, with the low seating position, long bonnet and upright windscreen all providing a real sense of occasion.

We also found the front seats extremely comfortable. However, boot space is around 10% less than German rivals and there’s a small opening, while the rear seats are practically unusable for all but the shortest of passengers, courtesy of very limited headroom. Cabin quality also lags behind BMW and Merc rivals, with cheap-looking trim.

The Mustang might not be the most agile car, but it offers a comfortable ride and strong refinement, while remaining enjoyable to drive on twistier stretches. Throw in the sleek styling and rock-bottom running costs and it is a very appealing option for fleet users who don’t need the most economical or practical option.

Ford Mustang 2.3 Ecoboost Fastback

Model price range £30,995-£39,995
Residual value 48.4%
Depreciation £15,540
Fuel £7875
Service, maintenance and repair £5032
Vehicle Excise Duty £800
National Insurance £3986
Cost per mile 71.3p
Fuel consumption 35.3mpg
CO2 (BIK band) 179g/km (30%)
BIK 20/40% per month £159/£301
Warranty 3yrs/60,000mls
Boot space (min/max) 408 litres
Engine size/power 2261cc/317hp