Ford Mustang Mach-E Finally Gets A Lease Option

By

Senior Pricing Analyst

As CarsDirect’s resident pricing analyst, Alex offers must-know analysis of pricing & incentives to those looking to buy or lease a car. His consumer-oriented coverage of the latest trends and breaking news has been featured in publications such as Car and Driver, Motor Trend, Automobile Magazine and Autoblog.

Follow On: Twitter

, Senior Pricing Analyst - November 19, 2020

Ford is finally allowing consumers to lease the 2021 Mustang Mach-E just ahead of its arrival. Previously, the highly-anticipated EV was limited to an unusual "lease-like" option called Ford Options Plan. However, our analysis of dealer incentive bulletins finds that the Mach-E could end up being rather expensive to lease.

As of this past Tuesday, Ford Credit is offering Mach-E lease rates starting at 3.94% APR on a 36-month lease. Alternatively, there's a 39-month option at 4.19%. There are no special rates for 24 or 48-month leases, at least for now. That said, we found some important quirks that potential shoppers should know about.

First, the rates in question are limited by geography to major metro areas like Boston, New York, Philadelphia, Phoenix, San Francisco, and Seattle. In many other parts of the country, early adopters will find considerably higher rates starting at 5.4% APR on a 36-month lease or 5.65% for 39 months. But that's not all.

A closer look reveals that the offers are currently limited to the Mach-E Select, Premium, and California Route 1. There's no mention yet of the higher-performance GT that's still only available for advance reservation since it isn't due to arrive until late next summer. Initial Mach-E residual values appear to be a mixed bag.

Although Ford isn't advertising a lease just yet, Mach-E residuals range from 56% on the Select to 58% for the Route 1 and now-sold-out Mach-E First Edition. Interestingly, a residual is already listed for the GT. What's more, it's identical to the base Mach-E Select (56%, figures here based on 36-months, 10,500 miles/year).

Whether or not the Mach-E will be good to lease remains an open question. Apart from residuals and rates, manufacturer lease cash can impact the value of a lease. Until now, one of the debatable disadvantages of Ford's "lease-like" option was that it didn't factor in the $7,500 tax credit. That could change with a lease.

A Ford spokesperson did not immediately respond to a request for comment. As we reported today, the Mach-E will debut with as much as $11,000 in savings here in California with the addition of the new Clean Fuel Reward. That's on top of a round of price cuts worth up to $3,000 Ford implemented back in late September.

To help bridge the gap until the Mach-E's arrival, Ford Credit is offering current lessees lease extensions for up to 12 months. With the ability to lease a Mach-E, shoppers appear to have one more option as an alternative to a traditional loan as well as the unusual balloon financing offer that's still set to start next week.

This Month's Top EV, Plug-In, and Hybrid Deals »

, Senior Pricing Analyst

As CarsDirect’s resident pricing analyst, Alex offers must-know analysis of pricing & incentives to those looking to buy or lease a car. His consumer-oriented coverage of the latest trends and breaking news has been featured in publications such as Car and Driver, Motor Trend, Automobile Magazine and Autoblog.

Follow On: Twitter

Privacy Policy|Do Not Sell My Personal Information|Terms of Use|Cookie Policy|Disclaimer|
COPYRIGHT 1999-2020 MH Sub I, LLC dba CarsDirect.com