The Ford Mustang Mach-E debuted back in 2021, a time when consumer interest in EVs was quite high. With early adopters exiting the market and supply catching up with demand – not to mention a softening electric vehicle market in general – Mach-E prices have come down considerably since then, however. As such, the average Ford Mustang Mach-E monthly payment has also been on the decline for a while, too.
According to Experian’s Q4 2024 State of the Automotive Finance Market Report, the average monthly finance payment for Ford Mustang Mach-E customers in the final quarter of last year came in at $696, while the average monthly lease payment was $527. That loan figure is lower than the overall average of $736 and many of the Mach-E’s competitors, including the Chevy Blazer EV, Kia EV9, Honda Prologue, and Hyundai IONIQ 5, though its lease payment was higher than all of the top leased EV models in Q4 2024 – save for the luxurious Cadillac Lyriq.
We’ve seen these numbers change quite a bit in recent months, however. In Q3 2024, the average Ford Mustang Mach-E monthly finance payment was $726, which was nearly $200 more than the average lease payment of $530, and both of those figures declined in the ensuing quarter. The fact that there continues to be a large delta between lease and finance payments for EVs, in general, also helps explain why so many consumers opt to go the former route.
That’s certainly true of the Ford Mustang Mach-E, as in the fourth quarter of last year, a whopping 56.63 percent of Ford Mustang Mach-E customers opted to lease their new EV, compared to 38.96 percent who financed it and 4.41 percent that paid cash. This falls in line with most of the top 10 best-selling new EVs over that time span, as the majority of Honda Prologue, Hyundai IONIQ 5, Cadillac Lyriq, Chevy Blazer EV, and Rivian R1S customers also opted to lease – though most Tesla Model Y, Model 3, and Cybertruck customers financed their new vehicle.
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