Ford Authority

2023 Ford Mustang Mach-E Lease Program Matches Tesla Model Y

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.

Ford Tatuí Development and Technology Center Brazil Mustang Mach-E - Exterior 001 - Rear Three Quarters

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.

Ford Mustang Mach-E GT Performance Edition Argentina - Exterior 001 - Front Three Quarters

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.

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.

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