Ford Motor is offering substantial lease discounts on its Mustang Mach-E electric vehicle, positioning it as a cost-effective alternative to the class-leading Tesla Model Y. The discounts, aimed at boosting the appeal of the Mach-E, make it significantly cheaper to lease than the Tesla.
The automaker has increased the lease cash available on the 2024 Mustang Mach-E to $9,000, coupled with a $600 Summer Sale bonus. This reduces the monthly lease payments on the Mach-E Select RWD to $319 for a 36-month lease, with $4,469 due at signing.
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In comparison, the Tesla Model Y Long Range All-Wheel Drive is available from $499 per month for 36 months with $2,999 down, while the Model Y Performance All-Wheel Drive requires a monthly payment of $599.
Ford has been actively adjusting lease prices for the Mustang Mach-E in recent months. In June, the company increased discounts by approximately 400% to $7,500, with further increases in July. The current deal is available until September 3, though final pricing may vary based on location, with these figures specific to Southern California.
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Besides undercutting the Tesla Model Y, the Mustang Mach-E also offers savings compared to notable hybrid crossovers. For instance, the 2025 Honda CR-V Hybrid Sport requires $379 per month over 36 months with $4,499 due at signing, translating to an effective payment of $487 monthly. The 2024 Toyota RAV4 Hybrid costs $399 per month over 36 months with $2,999 required upfront, leading to an effective cost of $482.
The lease deals and discounts provided by Ford make the Mustang Mach-E an attractive option for EV shoppers looking for affordability and competitive features.
Ford’s New EV Offers: No Payments for up to 90 Days on Mustang Mach-E and F-150 Lightning
