As Ford Authority reported last month, FoMoCo stopped taking orders for the 2022 Ford Mustang Mach-E after demand exceeded the automaker’s production capacity. Ford also canceled its planned price increases for the EV crossover following this move, but finding a deal on a new Mach-E is still virtually impossible as inventory remains rather low. That is also true of the high-performance 2022 Ford Mustang Mach-E GT, which has been a hit with buyers thus far, which makes it somewhat surprising that Ford Credit is now offering a lower interest rate for that model, according to a dealer bulletin seen by Cars Direct.
FoMoCo’s financing arm is offering an 84-month financing rate of 4.9 percent on the 2022 Ford Mustang Mach-E GT starting today, which is significantly lower than the previous-best APR of 7.9 percent. Longer loans have become more popular in recent years because they result in lower monthly payments, but they also often carry higher APRs, which results in customers paying more interest. However, in this case, at least, Mach-E GT buyers can get a far better deal than what was previously offered, though they’ll also be paying a considerable amount of interest over the course of seven years.
Meanwhile, the Mach-E remains one of the most considered electric vehicles on the market. Strong demand for the EV crossover recently prompted Ford more than double its battery supply by 2023. Those additional batteries will also help the automaker in its efforts to vastly expand its Mach-E production capacity to 200,000 units per year at the Cuautitlan Assembly plant in Mexico by 2023, as Ford Authority reported back in December.
Previously, FoMoCo planned on building all-electric versions of the Ford Explorer and Lincoln Aviator at that same plant but nixed those plans in order to focus on expanding Mach-E production over the next year or so.