Ford Granting Lease Extensions to Mach-E Buyers

SSman

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Source: CarsDirect

Ford Is Giving Mach-E Buyers Lease Extensions

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Ford is offering lease extensions to current customers looking to buy time until the arrival of the 2021 Mustang Mach-E later this year. As a result, those with a current Ford lease could have a good reason to wait for the brand's first all-electric crossover SUV. Here's a look at what you'll need to know.

According to a bulletin from Ford Credit sent to dealers, lessees with a scheduled maturity date through March 31 of 2021 are eligible for up to a 12-month extension. The main requirements of the offer are that your account will have to be in good standing, with a firm dealer order already in place.

Lease extensions aren't all that unusual, especially ahead of a major vehicle release. But the fact that Ford is already offering financing deals and benefits like Ford Plan Pricing speaks to just how much effort is going into the launch of what could end up being one of the most significant vehicles in Ford's history.

Having said all of that, there are some catches worth knowing about.

First, the fine print states that GT versions of the Mach-E aren't eligible. That's not particularly surprising considering the faster variant isn't due to arrive until late next summer and is only open for initial reservations. Next, you'll have to contact Ford Credit to find out whether or not you qualify for an extension.

It's also worth noting that those coming from another brand will probably find no advantage whatsoever. Confusingly, Ford also isn't letting consumers lease the Mach-E just yet, instead opting for a "lease-like" alternative called Ford Options Plan involving potentially lower payments through balloon financing.
 

hybrid2bev

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Interesting that this took 13 days to make news. The bulletin came out on Oct 1st. But this is not a special thing for the Mach-E. Normal procedure allows for up to 12 months lease extension if the customer has a vehicle on order. This bulletin is just a reminder to the dealers to review their pending lease terminations and proactively contact them if they have a Mach-E on order.

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jhalkias

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Yeah, no big deal. I have done this before. Our lease ends on the one Escape on 12/14. No way I want to extend a month if I have the possibility of delivery before the end of the year. We will somehow make do with one less car for a couple of weeks.
 

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