Ford Authority

Ford Mustang Mach-E Leases Now Cheaper Than Tesla Model 3

There was a time – not terribly long ago – when vehicles like the Ford Mustang Mach-E and Tesla Model 3/Y were in high demand and short supply, which – when coupled with soaring raw materials costs and supply chain issues – made those vehicles far more expensive. However, things have changed in a hurry over the first half of 2023, as supply chain problems ease and production ramps up, all while a bit of an EV price war has erupted at the same time. Now, vehicles like the Ford Mustang Mach-E are readily available with factory incentives to boot, which has now made that particular EV crossover a better lease deal than the Tesla Model 3, according to incentive bulletins seen by CarsDirect.

The 2023 Ford Mustang Mach-E Select, in particular, is currently available with a 10,500 mile-per-year lease deal of $429 for 36 months with $4,790 due at signing, which is available through July 31st. That’s a full $70 less than last month’s lease deal of $499 with $5,279 due at signing, which reduces the effective monthly cost of the lease from $646 per month down to $562 – an $84 difference. Plus, leasing a Mach-E becomes even more attractive for customers that qualify for the current 0 percent lease rate and $1,000 in factory lease cash.

Perhaps more notably, however, that $562 total monthly cost also makes the Ford Mustang Mach-E cheaper to lease than the Tesla Model 3, which is advertised with the same $426 monthly rate, albeit with an upfront cost of $5,624 – which brings its effective monthly total to $585, or $23 per month more than the base Mach-E.

Of course, there are some interesting caveats that emerge when we make this comparison – for starters, the Model 3 is a four-door sedan, while the Mach-E is a crossover that costs roughly $3,000 more, making it a better deal in other aspects. However, the base Mach-E Select also gives up a bit in terms of range – 250 miles versus 272 miles for the base Model 3, but otherwise, it certainly seems like a good time to lease one for those in the market to do so.

We’ll have more on the Mach-E and its competition soon, so be sure and subscribe to Ford Authority for more Mustang Mach-E news and non-stop Ford news coverage.

Brett's lost track of all the Fords he's owned over the years and how much he's spent modifying them, but his current money pits include an S550 Mustang and 13th gen F-150.

Subscribe to Ford Authority

For around-the-clock Ford news coverage

We'll send you one email per day with the latest Ford updates. It's totally free.


  1. David Dickinson II

    If you think the deals are good now, wait another 6 months or a year. I don’t care what Ford execs are publicly saying, when you look at every chart concerning EVs they look like the proverbial roller coaster that has just gone over the peak and has started to take a dramatic plunge. A 30% 1-year drop in used EV prices! 100+ day inventory of new MachE! (thus the lease deals). Ford execs must be piddling their pants.

  2. H

    The difference between 250 and 272 is irrelevant for everyday use, which is likely under 40 miles, for people who charge at home. And if you took a 400 mile trip in either of them, you’d start with a full charge and you’d need one stop. It might be the same place with either car.

  3. Kevin

    If you have a home charger it’s worth it if not I keep hearing Toyota solid battery going to annihilate any current generation EV. I’d rather just wait for 700-900 range. Early adoption is nice to gloat otherwise it’s too early in my opinion. But hey if your rich then your can do whatever you want and trade in whenever you’re bored.

  4. Chris

    “A 30% drop in EV prices!”. Yup, because EV prices are basically focused around one brand- Tesla. Who has announced significant reductions in new car prices thereby affecting their used car prices.

    New Ford (and GM) new EV sales are way down. Why? Look at all of the price increases they have announced our new models reached not even remotely close to their price at launch.

  5. Rantr

    Remember there is no Buyout option which is a bummer. I want to get Mach E, but I’d like to get it eventually and not have to return it back.

  6. Budlar

    Number one rule of leasing no money down not a penny


Leave a comment