Deal check (first time leasing) - Mustang Mach-e GT

Hey - Ford seems to have some good deals on leftover 2023 models ($9250 lease cash toward a GT, and assuming they accept my trade-in there is another $1500 available). I wasn’t able to get a ton of a discount off the MSRP, but it seems like everything else is reasonable. Anyway, here is a link to the calculator

Please, please, please, please don’t do this.

$700 a month for a leftover Ford EV is DoA.

(They’re still leaving 2023s?)

How many other offers have you gotten for the trade? Pull that out and deal with it separately.

Also, double check all of your inputs.

Incentives are taxed in CA so for sure you aren’t accounting for close to (or depending on your location, more than) $1k in sales tax.

(I didn’t look beyond that.)

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Yes. Run from this deal. If you want something fast a left over Kia ev6 GT will lease for half of this. But plenty of solid options for half the cost or less with Ariyas, Ioniqs Blazers and other EVs.

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Hey guys - Thanks for the feedback. We kinda had our heart set on the Mach-e and thought the ~$10K in lease rebates was attractive. Any suggestions on what I could/should ask for outside of lowering the interest rate? They didn’t seem to want to go below the $58K price (against a 60,700 MSRP), and we didn’t discuss the residual.

The 10K came from Carmax…I told them I wouldn’t take anything besides that. They said they would need to inspect the car before committing to the $10K (and then qualifying for the extra $1500).

I would be surprised if this is salvageable, unless getting this specific car is the only definition of success (which would be a minority opinion here, by far, but it’s your money :slight_smile: ).

The interest rate is the least of the issues here (and it’s set by the bank).

48% residual doesn’t help things at all, and there’s nothing you can do about that either.

Get 5 or 6 other offers, but don’t throw the trade into the mix until you know what the rest of the deal looks like.

And double check all of your inputs as suggested.

That’s nothing. You can get $17,000 on the Genesis EV

That’s a terrible discount TBH. Obviously they wouldn’t go lower. They saw your desperation. Walk away and make all future negotiations remote via email. Know what the price should be and make offers.

And there’s nothing to discuss about the RV.

Honestly, as someone who owned and liked an MME, there’s absolutely no reason to overpay by so much vs some of the stellar deals available on other BEV

If you really want a Mach E go used where values are tanking and someone else took the depreciation hit.

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For what it’s worth, my husband has the Mach E GT and I have a Lyric… The Lyric a significantly nicer car. While the GT is faster off the blocks, the ride is much stiffer and the suede seats are not my favorite. The brakes are squeaky (known issue) and it takes four clicks to get you to the trunk release… Drive a few other EV’s and see if you’re still in love.

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The Genesis EV is much nicer than the MME as well…

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U hit the nail on the head low mileage used Mach E are selling very cheaply.
OP can easily snag one of them!

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This needs to be a metric - if the lease is more expensive than buying a same model CPO with under 10,000 miles, it’s not a good deal.

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There is no way I would lease a year-old Ford EV for less than 10% - 12% off MSRP PLUS incentives. Don’t just look at the lease cash as your determining factor as to this being a good lease deal or not.

Your “deal” is the reason Ford/Ford Dealers are in dire straits now.

As in, the total lease cost exceeds the purchase price on the latter?

That’s a really low bar. The latter car, the CPO, isn’t depreciating to zero in three years. You’re getting a bunch of cash back if you’re smart about it.

It’s low, but there are plenty we see that can’t cross it.

I just about spiked my phone today talking to a Ford dealer.

I’m helping a neighbor get a lease on a MME because oddly enough they really like the MME. They’re new to leases, but want to be the one to talk to the sales person after a test drive. I’ve told them what to shoot for, but of course they’re going to be the one to negotiate. Fine.

I told them if you end up with quotes when there in person, structure it so at least one of the cells in the Elead sheet is where the drive-off (aka DAS) amount is the first month lease payment only. To be obtuse, I said, “get a quote where the amount of cash you pay to close on the lease is equal to the recurring monthly lease payments. That means include sales taxes and capitalize all inceptions, registration, and fees.”

The neighbor felt weird with zero DAS sign-and-drive since it didn’t compute in their head (35 payments instead of 36 and getting keys to a car with zero cash paid). And at the same time I didn’t want any up front cap cost reductions and other junk to make comparing leases difficult. So having first month payment DAS in all instances makes it easy to compare different options.

Neighbor gets a phone/text quote (no Elead sheet) that is actually 10% off front end with full rebates and sales tax baked in. Probably the best we’ll get with these NorCal Ford folks.

I use their phone to ping the dealer to get Ultra-Confirmation before the neighbor wastes time driving up. The text my neighbor gets clearly says a monthly = DAS on a stock #, but I figured something was wrong.

Sales person refuses to confirm via text or generate a Elead and take a picture so we call them. Turns out the dealer was quoting first month payment due at signing, PLUS $1,800 other down payment too that wasn’t in the text.

I’m like, WTF is this sales person doing? They just left out the $1,800? WHATTTTT. According to the sales person, a down payment capital cost reduction is not part of the drive-off “due at signing.” FFFFFFFFFFF

I hate car buying. This is so freaking stupid how sales just re-imagines definitions and make shit up to trick buyers. I’ve had dealers tell me that the word “offer” followed by a price and payment is not a binding offer, it’s just advertising. I’ve had dealer tell me listed prices are just made up numbers anyway. I’ve had dealers hide aftermarkets in a cap cost because “they hide that in every lease and never have disclosed it before so it’s NBD.”

Get a broker. Except Ford doesn’t allow brokers. Ergo, Ford sucks.

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Why even bother trying to lease a Mach E if they really like it low mileage used ones are cheap. Why pay a premium via lease the value on these has sunk like the Titanic.

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What do you mean by “Ford doesn’t allow brokers?” Brokers are not employees of Ford or Ford dealers.

Ford Corporate took a fairly agressive stance on Brokers and Resellers in 2022. While I agree with you there is a grey zone on whether or not some independent lead-gen person counts as a “broker” by the definition Ford corporate provided, I think dealerships are simply choosing to avoid using any sales tactic that could remotely be considered a “broker”.

https://www.carsdirect.com/automotive-news/industry-news/ford-adds-harsher-penalty-to-stop-brokers-resellers
July 25, 2022

“Brokering includes the utilization of any 3rd party to wholesale, transfer, or otherwise deliver inventory, especially vehicles in high demand (including, but not limited to Raptor, F-150 Lightning, and all specialty vehicles). Additionally, any non-Ford dealer or non-Lincoln dealer that provide vehicle and inventory relocator services, automotive transfer assistance, dealer trade facilitation, and/or any other company by similar name or service, is considered a broker.”

So, Ford dealers are choosing to follow the corporate rules when it comes to doing business with brokers but not when it comes to selling vehicle over MSRP? I think there was an edict handed down from corporate in reference to that also. Funny how they pick and choose which corporate guidelines to follow lol