Ford Authority

Most Ford Mustang Mach-E Customers Financed In Q1 2024

While it has long ranked among the top automotive brands in terms of the percentage of its customers that opt to lease their new vehicle purchase, Ford has also long enjoyed one of the highest financing percentages of any auto brand, too. That trend continued through Q1 2024, when 82.59 percent of Ford customers opted to finance their vehicle purchase, compared to 17.41 percent that chose to lease instead. This was one of the highest finance rates of any automotive brand, behind only Dodge, in fact, and it was also true of one specific model – the Ford Mustang Mach-E.

Experian State Of The Automotive Market Q1 2024 EV Finance vs Lease

According to Experian’s Q1 2024 State of the Automotive Finance Market report, 54.31 percent of Ford Mustang Mach-E customers opted to finance their EV crossover in the first quarter of the year, compared to the 38.98 percent that leased and 6.71 percent that paid cash. That finance rate was among the highest in the segment, in fact, trailing only the Ford F-150 Lightning, Chevy Bolt EUV, and Tesla Model X.

Notably, this rate is also higher compared to Q4 2023, when 51.56 percent of Ford Mustang Mach-E customers financed their new vehicle purchase, compared to 38.74 percent who leased and 9.7 percent who paid cash. Additionally, the Mach-E’s chief rival – the Tesla Model Y – saw its finance rate drop from 59.39 percent in Q4 2023 to 50.31 percent in Q1 2024.

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

In spite of this, Ford still finished Q1 2024 as the sixth most leased brand over that time span by accounting for 5.39 percent of the total market, tying The Blue Oval with BMW in that regard. That did mark a bit of a decline for Ford versus Q4 2023, however, when it ranked fourth among all makes by accounting for 6.18 percent of the total market, prior to which it ranked sixth in Q1 and Q2 2023 before moving up to fifth place in Q3.

We’ll have more financing and lease data to share 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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