With somewhat of a glut of 2023 Ford Mustang Mach-E inventory still populating dealer lots around the U.S., Ford has recently worked to introduce incentives for its EV crossover, all while making it eligible for X-Plan pricing as well. Then, just yesterday, the automaker took significant action by reducing the prices of the 2023 Ford Mustang Mach-E lineup by a pretty large margin, with cuts ranging from $3,100 all the way up to $8,100, depending on trim. However, those price cuts also mean that the 2023 Ford Mustang Mach-E is now as cheap to lease as a Tesla Model Y, its chief rival, according to CarsDirect.
In fact, the entry-level Mach-E Select can now be leased for $379 across 39 months with $4,549 due at signing, which is pretty much identical to the Model Y, which can be leased for 36 months at $379 with $3,573 due at signing. However, this slight variance means that the Model Y is still slightly cheaper to lease in terms of effective cost, which combines cash due at signing with monthly payments – $478 versus $496.
Regardless, there is one caveat worthing mentioning – this takes into account the current $8,500 in lease cash that Ford is offering on 2023 Mach-E models, but that’s only available in four markets – Los Angeles, San Francisco, New York, and Orlando. In other parts of the country, buyers can take advantage of $7,500 in lease cash, however, so payments are likely to be pretty close, regardless.
With lease cash dropping the cost of a 2023 Ford Mustang Mach-E Select to as low as $33,195, this means that the EV crossover can actually be cheaper to lease than some comparable ICE-powered crossovers as well, which is rather notable – particularly as automakers like Ford work to eliminate the pricing barrier that has kept many from making the switch to an EV.
We’ll have more on the Mach-E soon, so be sure and subscribe to Ford Authority for more Mustang Mach-E news and comprehensive Ford news coverage.
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