Most Ford Mustang Mach-E Customers Opted To Lease In Q3 2024

For some time now, Ford has posted one of the highest finance rates of any automotive brand, as its customers clearly prefer that method of purchase versus leasing. However, this isn’t true of every model in the lineup, as certain vehicles are more likely to be financed rather than leased, or the other way around. The Ford Mustang Mach-E is a good example of this, as 54.31 percent buyers opted to finance the EV crossover in Q1 2024, while 38.98 percent leased, and 6.71 percent 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. However, that changed in a big way in Q3.

According to Experian’s Q3 2024 State of the Automotive Finance Market report, a whopping 55.96 percent of Ford Mustang Mach-E customers opted to lease their new vehicle in Q3 2024, compared to 40.26 percent who financed one and 3.79 percent that paid cash. That lease rate isn’t even close to being the highest of the top 10 new EV models listed here, but it’s a notable flip given the fact that historically, most Mach-E buyers have financed that purchase rather than leasing it.

As for what’s driving this trend, we can look to a variety of recent lease deals that The Blue Oval has offered for the Ford Mustang Mach-E as possible influences. Back in June, leftover 2023 Ford Mustang Mach-E models became eligible for a 41 percent increase in RCL (Red Carpet Lease) Customer Cash, up to $12,000 in certain cases. With a base price of $41,695, that resulted in a lease price as low as $29,945, which was its lowest to date – and payments as low as $392 per month for 36 months with $1,142 due at signing – cheaper than its chief rival, the Tesla Model Y at the time, as well as some Japanese hybrids, too.