New Year, New Mach E leasing options (and New Prices on Lightning)

From: https://www.f150lightningforum.com/...4-lightning-and-mach-e-leasing-options.17864/

Good morning and happy new year!

Sharing some Ford EV news today regarding MY24 Lightning price adjustments and Mustang Mach-E incentives.

Mustang Mach-E Incentives

• Mustang Mach-E remains eligible for tax credits when leased or for businesses and state/local customers under the commercial tax credit.
• MY23 Mustang Mach-E is now available with $7,500 Red Carpet Lease Cash, when leased through Ford Credit.

Lightning Pricing Adjustments

Ford are adjusting pricing, production, and trim packages to achieve the optimal mix of sales growth, profitability, and customer access to the IRA tax benefit. Pricing adjustments are part of balancing production with current customer demand. We have also lowered the price of the F-150 Platinum which has helped to compress the price range of the overall F-150 Lineup.

What you need to know:

• Pricing remains unchanged for MY23 F-150 Lightning models.
• MY23 Lightning Platinum is now eligible for $7,000 bonus cash.
• Customers who have already ordered a MY24 Lightning will be price protected.
• More information will be available on Ford.com on MY24 Lightning in early 2024 or customers can visit their local Ford dealer.

Find the latest pricing table below.

I was excited to see the $7500 Mach-E RCL credit until my sales guy told me the residual is now 44% instead of 55% and the subvented rate is now .35 APR for 36/12k. Was hoping better with tax incentive now gone.

Many folks purchasing Ioniq 5 who wanted to purchase would lease to get the $7500 credit, then immediately buy out their lease before any interest was charged. I wonder if Mach-E buyers might now choose that tactic. It seemed to be a bit of a pain to do, and varied by state, but saving $7500 might be worth the pain.

c-had said:

Many folks purchasing Ioniq 5 who wanted to purchase would lease to get the $7500 credit, then immediately buy out their lease before any interest was charged. I wonder if Mach-E buyers might now choose that tactic. It seemed to be a bit of a pain to do, and varied by state, but saving $7500 might be worth the pain.

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At one point Ford eliminated the option that customers had to purchase the vehicle at the end of their lease. They wanted to absorb the benefit of overvalued used car prices vs residuals during the pandemic. Not sure if that is still the case.

Of course they add the lease tax credit as an incentive like a month after I started my lease Could've saved like $150-200/month with that...

GreaseMonkey said:

At one point Ford eliminated the option that customers had to purchase the vehicle at the end of their lease. They wanted to absorb the benefit of overvalued used car prices vs residuals during the pandemic. Not sure if that is still the case.

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My lease from a month ago (bad luck for me if the residual and money factor remain about the same as last year, I only had about $3k in incentives compared to the 7.5k they're doing now) says I can buy the car at the end of the lease. Don't expect I will for a multitude of reasons, the buyout is $35k at the 3 year mark which is about what I can apparently sell the thing for now with 1000 miles on it.

jdeve said:

I was excited to see the $7500 Mach-E RCL credit until my sales guy told me the residual is now 44% instead of 55% and the subvented rate is now .35 APR for 36/12k. Was hoping better with tax incentive now gone.

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Interesting if that's accurate. The Ford website is showing the new incentive on the payment estimator and is about $175/month or so lower than what mine was so it still has the old residual and money factor in its calculation. Wonder if that's for the 24 model and they're going to use the new incentive to try and get rid of the old 23 stock.

Hope this is okay to post... I agree that the Ford payment estimator is also much lower than what was shown on my lease worksheet for specific car. This is not my lease worksheet but supposedly shows the lease incentives, residual and money factor specific to VIN I was looking at and I guess zip code where I am. It shows the $7500 RCL rebate, residual 44% for 36 months (highlighted) and tier 0-1 interest rate .35 APR for 36 months and also same for 12,000 miles/year.

In my opinion the $7500 rebate is still a terrible deal after they have upped the money factor and lowered the residual as much as they did. No more tax break. For the car I am looking at, a premium awd, extended battery, black book shows the car worth somewhere around $40,000 as soon as I take it off their lot. Could be wrong but I think the average car loses around 10% of its value as soon as you buy it. I guess the APR is still good. I also lost my $1000 personal cash rebate on Jan 2. At least for now the offers I saw just before New years were much better. I tried hard to find a dealer to negotiate on an older job 1 build 200+ days on market, fully taking out the $4000 price difference, and that surprised me. No one wanted to make a great deal on aging inventory and all of my Job 2 OTD quotes were better in my search. I don't know if I should feel bad for the Ford dealers having so much inventory that's not selling right now. Guessing the CDJR dealers have it a lot rougher.

So if it's VIN specific it's definitely not for a MY24. Either they lowered the residual because they wanted to add the 7.5k tax credit as an incentive to make it look like a great deal or it was updated to more accurately reflect what the cars value will be to sell used after 3 years. I think my residual is around that 55% mark. My lease agreement says the buyout will be $35k. Plugging my car into online dealerships like Carvana, they're already offering me less than what the buyout would be with less than 1000 mi on the car.

Ford must have since late last night updated their payment estimator with the new residuals and money factor. Monthly lease payments are much higher this morning with the $7500 rebate.

Hey Ford! I am suspending my Mach E search. Your new lease offer is terrible. No matter how great the car the deal still has to make sense.

i have a 2023 select and am looking at upgrading to a 2023 Premium extended battery. I do not owe any on the select and because of my trade in with my incentives would like to rcl my balance. I plan on keeping the car and want to have a residual value of approzimately $2000. On the Ford site I am unable to obtain a lease payment since it will not let me enter the entire amount of what the dealer is giving me trade in. They also are having trouble since evidently the residual value shows 39 percent of msrp and not the difference between msrp and trade in value and incentives. Does anyone have a suggestion how to obtain this. If I am able to lease instead of buy even with the 0 per cent financing option I will save about $3000. Thanks

jdeve said:

Hope this is okay to post... I agree that the Ford payment estimator is also much lower than what was shown on my lease worksheet for specific car. This is not my lease worksheet but supposedly shows the lease incentives, residual and money factor specific to VIN I was looking at and I guess zip code where I am. It shows the $7500 RCL rebate, residual 44% for 36 months (highlighted) and tier 0-1 interest rate .35 APR for 36 months and also same for 12,000 miles/year.

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Is there a way to get access to this template to plug in a specific VIN to get this information, or was this just a printout of something that came from Ford? I'm curious to know the results for a specific 2023 Mach-E that I'm thinking about buying?

HalifaxDC said:

Is there a way to get access to this template to plug in a specific VIN to get this information, or was this just a printout of something that came from Ford? I'm curious to know the results for a specific 2023 Mach-E that I'm thinking about buying?

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That was in an email from a salesman or sales manager wanting to sell me a car when I started asking a lot of questions. You might be able to ask your sales guy for a vincent for a specific car. I got a lot of good car negotiating help from caredge. Number 1 thing is to always get the OTD (out the door quote before anything else without revealing how you want to pay for it or if you have a trade). That gives you more leverage to negotiate a discount from the MSRP. Also be really aware if you are looking at job1 vs job2 builds and the options (charge cable and 3 years bluecruise is included with job 1's.) Caredge will also show you days on market. You should have more negotiating leverage on job 1 cars. They will have days on market somewhere around 240+ now I believe.