Ford News: Ford Charges Up Financing Incentives on Ford Mustang Mach-E and F-150 Lightning

[Drew Dowdell]

Many electric vehicle manufacturers have been aggressive with financing and lease deals lately. With new car interest rates at the highest level they have been for years, financing an electric vehicle is starting to become the most cost-effective way to get into a new vehicle. Adding fuel to that fire, Ford announced new financing incentives today for Mustang Mach-E and Ford F-150 Lightning. 

Mustang Mach-E

All 2023 and 2024 Mustang Mach-E models can be financed for 0% interest up to 72 months if you have excellent credit. If you prefer to lease, a new $7,500 Red Carpet lease cash bonus is available from Ford until September 30th, along with a new 24-month lease option for those with commitment issues. An additional $600 off is available until September 9th if you pick one from dealer stock.

The 2024 Mustang Mach-E gained range and charging speed, now up to 320 miles on rear-wheel drive cars. If you don't mind being a year behind with ten fewer miles of range, your dealer may be motivated to slash the price of leftover 2023 Mach-Es a bit further for you with another $2,000 off when financed. However, we suspect the dealership can find room for discounts even if you lease. Remember that the Mach-E no longer qualifies for tax credits as of January 1, 2024.

F-150 Lightning

On the F-150 Lightning, 2023 models are available at the same 0% for 72 months, while 2024 models can be had for 0% for 60 months or 1.9% for 72 months, and most trims of the F-150 Lightning qualify for the $7,500 tax credit. A 24-month lease option is available; however, without the $7,500 bonus cash that the Mach-E features, it isn't a good deal. With Ford being the number two electric vehicle manufacturer in the United States behind Tesla, Tesla owners can snag an additional $1,000 conquest bonus. 

E-Transit

The Ford Transit is the most popular work van in the country, so incentives are slim.  However, if you are in the market and can find a leftover 2023 Ford E-Transit on the lots, Ford is offering 0% interest for 60 months plus $7,500 bonus cash. Just keep in mind that Ford enhanced the E-Transit for 2024 and you will be limited to a range of 126 miles rather than the 159 miles of the updated model. 

All three of Ford's current electric vehicle offerings are compatible with most of the Tesla Supercharger network, though you will need to use a complimentary Tesla adaptor provided by Ford. Ford access to the Tesla network is transparent with plug-and-go available through Ford's BlueOval charging network. 

It will be interesting to see if other manufacturers follow suit with new electric vehicle incentives of their own.

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[G. David Felt]

Anything to help the transition to EV is a good thing imho.

[Drew Dowdell]

42 minutes ago, G. David Felt said:

Anything to help the transition to EV is a good thing imho.

The Mustang Mach-E is on my watch list as a potential replacement for the 300C. My only hesitation is the lack of a heat pump, but I don't think that will be an issue for its primary duties.

[G. David Felt]

34 minutes ago, Drew Dowdell said:

The Mustang Mach-E is on my watch list as a potential replacement for the 300C. My only hesitation is the lack of a heat pump, but I don't think that will be an issue for its primary duties.

What about the Kia/Hyundai/Genesis lease deals on their EVs?

Or are you thinking to buy?

[Drew Dowdell]

1 hour ago, G. David Felt said:

What about the Kia/Hyundai/Genesis lease deals on their EVs?

Or are you thinking to buy?

At the moment they don’t make one in the configuration Albert wants, except for Genesis and that’s a bit pricey for us right now. He might be convinced into an Ioniq 6, but he really wants to go back to an SUV. Honda Prologue and Mustang Mach-E are the two best contenders right now. I do have a reservation on a Rivian R2, but that’s several years away. 

[G. David Felt]

7 minutes ago, Drew Dowdell said:

At the moment they don’t make one in the configuration Albert wants, except for Genesis and that’s a bit pricey for us right now. He might be convinced into an Ionia 6, but he really wants to go back to an SUV. Honda Prologue and Mustang Mach-E are the two best contenders right now. I do have a reservation on a Rivian R2, but that’s several years away. 

Got it, yes a March 7th 2025 Reveal date for the R2 with first half 2026 production in Georgia. Those are a long time away compared to the deals that are starting to happen on current EVs.

Are you going to then install a L2 charger at the house?

[Drew Dowdell]

3 minutes ago, G. David Felt said:

Got it, yes a March 7th 2025 Reveal date for the R2 with first half 2026 production in Georgia. Those are a long time away compared to the deals that are starting to happen on current EVs.

Are you going to then install a L2 charger at the house?

I will probably do it sooner rather than later because I expect to start getting press cars again shortly and a good chunk of them are EVs.  Lucky for me the L2 install will be just about as easy as can be. The total run from the panel will be less than 4 feet and when I upgraded the panel in 2016, I accounted space for eventually having an EV. 

[G. David Felt]

17 hours ago, Drew Dowdell said:

I will probably do it sooner rather than later because I expect to start getting press cars again shortly and a good chunk of them are EVs.  Lucky for me the L2 install will be just about as easy as can be. The total run from the panel will be less than 4 feet and when I upgraded the panel in 2016, I accounted space for eventually having an EV. 

That should make it easy for you to do it as a DIY project if you're up to it.