Mach-e does fixed tesla pricing, so wysiwyg on ford website, unless dealer is marking up. X-plan saves a bit and there are a few dealers on mach-e forums offering 3% off. With ford options its lease structured like a purchase so you claim the 7500 off as a deduction.
This is totally up to the finance company. They donât have to pass along the credit. I donât know what they are currently doing for the Mach-E but sounds like maybe not. Or that dealer is marking up over MSRP.
Couple of thousand due at signing due to taxes and fees + to get it to 599 exactly. MSRP of just under 52 and paying $599/mo.
Was advised to look into tax credit myself, and from the verbiage Ford links to at IRS, it does apply to leases, especially I think the way they structure these.
Will have CPA figure it all out. Love the car, and had thousands to play with after selling a leased XC40. Fullerton Ford was the one dealer who wasnât trying to sell $3-4k over sticker locally, or âcome on in to test driveâ
NOTE: They didnât mention Ford Options to me, so I got a bog standard lease, will ride it like a rented mule and turn it back, might want to ask about Ford Options.
The tax credit does not apply to leases.
Ford offers a balloon financing option with a pre-arranged buy back option that is similar to a lease, that allows for claiming the tax credit it, but it is not a lease.
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I also have read that the Ford Options program has a very low residual (low 40% range), driving the poor numbers on the âlease-likeâ deal.
If you factor in the 7500 tax reddit on the $814/mo, you are looking at approximately $600/mo, which is heavy for a mid-40k car.
Absolutely and thatâs where my head was at too. That is a ridiculous amount to pay for a 44k MSRP. Iâd rather lease an XC90 again or buy a used Tesla for that kinda money
I agree but the MSRP being low is what makes the vehicle super attractive. Itâs a great buy/poor lease. You should be able to walk away at a better price than the residual at the end of 3 years.
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If they passthrough the federal credits and apy is low, itâs probably a fine to lease if itms only expensive due to an artificially low RV - except youâll need to plan to sell the car at the end to a third-party
The only thing might be the lease acquisition fee isnât worth the optionality if youâre going to buy it out in all cases - unless youâre in a state where you can sell it at the end without paying sales tax on that portion or Ford allows third-parry buyouts at the same price
Or if your state lets you do a trade-in and exempts that from the sales tax then youâll probably just want to buy
With the lease, you donât get to claim the federal tax credit, nor does Ford Credit pass it on in the form of lease cash. The residual is subvented higher however.
2021 Mustang Mach-E Select:
Ford Red Carpet Lease, 36/12K: 57% residual, 3.94% APR, $0 lease cash
Ford Options Balloon Financing, 36/12K: 43% residual, 2.25% APR, $2,500 bonus cash + $7,500 tax credit
If you have a tax liability of $7,500 or higher, Ford Options is the way to go, IMO. Plus, you can more easily leverage equity at the end. Ford does not allow third-party buyouts with leases, I believe.
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Couldnât find one of these under $800/month for a extended battery AWD with $5k down. Absolutely bonkers
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Those are hard to find.
There just werenât any extended battery vehicles in stock here. They went first. I got a standard range AWD at an MSRP / adj cap cost of just under 52k for $599/mo with $5k down.
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I had one dealer quote me nearly $1100 for one too. $10k markup lol
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Ok, thatâs a good idea. I think I managed to get most of those that werenât off the rails. Right now, it is looking to me like it is out of order now. Thought the system would correct for that, but weâll see how it plays out.
Iâm still curious to know the RV on your contract.
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RV $30,613.60 with total payments by end of lease $29,584.72. Gross cap cost of 52,792.50
Seems a little hefty even with fees (which I paid in the DAS)
Will figure it out with Fullerton, or just ride it out until lease end. Itâs not like I planned on buying the thing, but it wouldâve been a nice option.
So RV is 58%, but, yeah, your total payments donât make any sense if $5k DAS and $599/mo for 35 more months. Do you know if the contract got funded yet?
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58% due to 7,500 mi/year - 39 month lease.
Still seems a few thousand off, probably funded by now because I was stupid enough to only look at the buyout number after work the next day, and in NJ they like you signing away your 24 hour rights.
Was too used to honest people like @aronchi where you walk in and out with the numbers quoted, so I saw one sheet and the monthly / downpayment correct. Wasnât given a copy or shown the 20 e-signatures I was doing, but they kept me there 2.5 hours knowing I took an Uber over lunch.
Was my bad, got the classic work-over by the dealer. Got a follow up from the salesman pre-Ford survey and let him know this crap is the reason I hate dealers. He seems interested in talking or at least remedying the issue. Wasnât presented with Ford Options, so tax rebateâs out the window.
Doubt thereâs much that can be done now, so Iâve got a 3 year rental I can ride out and fast charge daily if I want. Usually keep cars pristine, but figure why not in this case.
This really is just a transitionary car until EVâs become more mature, and the Volvo C40 has 2+ years under its belt, so itâs not a huge deal, just would have been nice to have that option.
Just made this thread to keep a Mustang discussion going to see if $3-5k is the âover priceâ that most other people are getting quoted, or of thereâs weird crap going on in the back end of the lease like mine.
Did not mean to piss everyone off, just wanted to discuss the Mustang Mach-E somewhere on here.
I ask about funding because, if the numbers donât add up, it wonât get through. If they see total payments number exceeds what you are ACTUALLY paying, it should get rejected, I would think.
Can you post your contract? Should shed some light as to whatâs going on.
I was told the credit would apply to a lease, but everyone at the dealer was very careful to say nothing definitive, then I wasnât presented with Ford Options.
Will be properly pissed if Ford gets the $7,500 rebate and itâs not applied to my rebates.
What does your contract say? What did edmunds say when you confirmed incentives with them?