Need Advice on 2024 Mach E Premium dealer offer

[arkv]

Hi Mach E experts,

Quick question. I am a 2021 Mach E Select with Tech Package owner in NJ, and my Ford Options plan is ending this month. I am negotiating with dealers in NJ on a 2024 Mach E Premium AWD with a 91KWh battery, panoramic sunroof, rapid red color, and interior protection package. The MSRP is $54,980. The dealer is offering a $9600 Ford Rebate and a $2K Ford Loyalty discount totaling $11600 in discounts. For 3K down, 12K miles/year, and 36 months, the monthly EMI is $450. Is this a deal that I can sign and drive?

Thanks,
-Arun

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[Mach1E]

Hi Mach E experts,

Quick question. I am a 2021 Mach E Select with Tech Package owner in NJ, and my Ford Options plan is ending this month. I am negotiating with dealers in NJ on a 2024 Mach E Premium AWD with a 91KWh battery, panoramic sunroof, rapid red color, and interior protection package. The MSRP is $54,980. The dealer is offering a $9600 Ford Rebate and a $2K Ford Loyalty discount totaling $11600 in discounts. For 3K down, 12K miles/year, and 36 months, the monthly EMI is $450. Is this a deal that I can sign and drive?

Thanks,
-Arun

So basically the lease costs you $19,200 over the next 3 years and at the end you have no car.

What’s the buyout on your options plan to keep your car?

For not much more, you could own a 2021-2022 right out and at the end of 3 years still own a car.

The lease deal doesn’t seem bad, but it’s still more expensive than just buying a used one (almost always the case). Up to you as to what you want.

Unless you care about the extra power/acceleration, I don’t think the 2024 has anything worth upgrading to.

 

[ToOldForThis]

Doesn't sound like the dealer is kicking in anything on this deal. Everything you mentioned are incentives from Ford. As far as this dealer is concerned, they are selling this car at MSRP. They should be able to do better, and still give you all the incentives you mentioned.

 

[grein002]

Doesn't sound like the dealer is kicking in anything on this deal. Everything you mentioned are incentives from Ford. As far as this dealer is concerned, they are selling this car at MSRP. They should be able to do better, and still give you all the incentives you mentioned.

What he said. $7500 of the $9600 is federal tax credit, available to any lessee.

 

[RickMachE]

Never put money down on a lease.

 

[ScienceTimes]

No guessing needed. Is it a fair lease? Check here.
https://www.leaseguide.com/articles/car-lease-interest-rate/

 

[arkv]

Thanks, everybody. The dealer is not budging, so I have to figure out alternatives. As always, I appreciate the insightful responses.

 

[arkv]

So basically the lease costs you $19,200 over the next 3 years and at the end you have no car.

What’s the buyout on your options plan to keep your car?

For not much more, you could own a 2021-2022 right out and at the end of 3 years still own a car.

The lease deal doesn’t seem bad, but it’s still more expensive than just buying a used one (almost always the case). Up to you as to what you want.

Unless you care about the extra power/acceleration, I don’t think the 2024 has anything worth upgrading to.

I appreciate the reply. The main reason I was going for a new 2024 is the Extended-Range battery and the other bells and whistles, which make it a bit more interesting than the current 2021 Select AWD I have. The 2021 Select suffers big time in the winter by dropping to almost 45% of the total charge when the temperature is below 30F (often in NJ). Also, I see that charging takes a lot longer, and with the current rates of 50+ cents per KWH in Electrify America, it is becoming more expensive than a gasoline car. I know other folks might have a different experience. So, while I enjoy and love the 2021 Mach E, I am always in a dilemma on whether to make the balloon payment or to get a new one and see how it goes.

 

[tsixr]

Does that include the $2k NJ charge up incentive? What is your end of lease buy out?

 

[AKgrampy]

Only you can tell. If it is what you want and you can’t find a better deal then go for it if you can afford it. But if you are on the fence and will keep questioning your choice I would certainly look at paying off the balloon if your 21 is in good shape.

 

[arkv]

Does that include the $2k NJ charge up incentive? What is your end of lease buy out?

Does that include the $2k NJ charge up incentive? What is your end of lease buy out?

Great question. I don't think so, but let me double check.

 

[Mach1E]

I appreciate the reply. The main reason I was going for a new 2024 is the Extended-Range battery and the other bells and whistles, which make it a bit more interesting than the current 2021 Select AWD I have. The 2021 Select suffers big time in the winter by dropping to almost 45% of the total charge when the temperature is below 30F (often in NJ). Also, I see that charging takes a lot longer, and with the current rates of 50+ cents per KWH in Electrify America, it is becoming more expensive than a gasoline car. I know other folks might have a different experience. So, while I enjoy and love the 2021 Mach E, I am always in a dilemma on whether to make the balloon payment or to get a new one and see how it goes.

That’s fair. Then I wouldn’t keep your existing car if it’s not what you want.

But I would consider buying a used premium 4X or GT. You can pick those up in the mid to high $20s now.

 

[phil]

I would demand another $3k discount, and find a dealer that agrees, even if that means waiting. Then I'd buy out the lease right after closing.

Good luck.

 

[johnnycombo]

I just bought a 23’ premium 4x leftover, 49 out the door. There’s a lot of them still on the lots, don’t forget the Mach E lost the federal credit because of the battery sourcing also.

 

[arkv]

Does that include the $2k NJ charge up incentive? What is your end of lease buy out?

It includes only the 2K Loyalty Rebate. Does NJ still have the 2K?
Also, residual value is 26395. Thanks!

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