We leased a '23 Mach-E - too good to pass up

Congrats! We really enjoyed the Mach-E, it was my 2nd favourite behind the i4 M50 (and my wife liked it more than the bimmer).
 
To those who asked: This is my wife's daily, although I will end up driving it quite a bit also. It's with her, not here to take pics right now. But I will at some point.

We left the dealership last night about an hour and a half after it closed, the cybersecurity deal mentioned elsewhere on BITOG affected the speed of our checkout. It was pitch black by the time we left and there are no pictures yet. They also promised us a better detail as the one it got was kind of half arse, so we need to go back for that.
 
Congrats! Nice EV that shouldn't have been given the Mustang name though, IMO.

Also, auto brights have been around for awhile. Even my 10yr old Benz has them and they're fantastic.
 
I may be missing something here. What does the purchase price, incentives and discounts have to do with a lease? Typical lease terms are independent of all of that.

The lease has a total cost, mile limits, and often an option to purchase at the end. All of which are configured to ensure the lessor makes a profit from the lessee.

The only thing I can think of may be EV related local state and federal tax implications.
 
The Critic said:
All of those items are factored into the lease structure.

However, many people are simply leasing to get the incentives, then buying out the lease immediately.
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Ah ha! Interesting.

I like the idea of leasing EV's. Not cheap when cost per mile is figured in, but the only real maintenance cost will be tires.
 
Brons2 said:
We leased a new 2023 Mach-E yesterday, it's a Premium AWD with just about every option under the sun except for the extended range battery. Been languishing on the lot since sometime last year.

Original sticker - $55,400
Dealer discount down to $44,600
Ford lease credit on all leftover 2023 Mach-E Premiums - another $10,500 off. They were previously offering a $7500 lease credit, but when they bumped it up to $10,500, we jumped.

It had more options than I even realized when we showed up at the dealer, like the Bang & Olufsen stereo, I'm seriously going to have to look at the Monroney label again to see everything that's on it. It kept surprising us going down the road with all the stuff that it has, like auto brights for example. Color is Vapor Blue, which was a new color for 2023. Yeah it's a kind of EV looking color, but it's really pretty in the sunlight as it's pearlescent metallic.

I originally didn't want an AWD with the standard battery because it puts the range in the mid-high 220s, but you know what, we don't go out of town very often. And the amount of public chargers is growing fast, plus, the Fords have access to some percentage of the Tesla network that is compatible. This was the least expensive 23 Premium, with the dealer markdown, available within 100 miles. So, it's fine. Another plus point is that several of the magazine reviews said they got more highway range out of the Mach-E than the EPA and Ford ratings stated, so, maybe that will be true in our case also.

And even though I wasn't looking for it, with the AWD it is gonzo fast. The salesperson said it was less than 4 seconds 0-60, but I wasn't about to find out with my wife and 8 year old in the car. It is fast enough even with moderate pedal pressure coming off a stoplight that all the other cars will be far, far behind you very quickly. I had to tell my wife on the test drive she was going 85 - I think in a 60 zone, haha.

Other thing that was originally desirable on our EV hunting list, although not a hard requirement - has an LFP battery, so no cobalt. Honestly I think this is a red herring issue anyway, but it will be nice to be able to retort to people who try to throw the cobalt mining issues in my face, and yes that has happened in real life, not just on social media.

There are some drawbacks to this car, the cabin and the cargo area are not as voluminous as say the Model Y and the ID.4, mostly noticeable in the backseat accommodations when big ol me is in the front seat (6'7", 320ish). But I was already tired of my wife trying to convince me all the time that we need to have only 3 row vehicles. I mean it is just the three of us, and we still have the Navigator (for now). It's also not as efficient in a mile per watt hour basis so far in driving it as compared to say my parents ID.4, but they bought theirs in 2022 when the demand was still really high and paid sticker at close to $50K. So I really can't complain too much, electricity is cheap at home (.13 per kwh) and cheaper on the ChargePoint chargers at my office in the parking garage (.10 per kwh).

The lease is for 3 years at 15K miles per year. The buyout is very reasonable, and I think we will probably do so unless something goes horribly awry during the lease period. I suppose you might ask why we just didn't buy it in the first place. We probably would have, but the $10,500 credit was only available on the lease, go figure. Maybe Ford figures they'll get a bunch of them back in 3 years and the market for EVs won't be so soft at that point. But I wasn't about to leave that money on the table just to "own" it.

Comments? Fire away...
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Congratulations! A few questions.

How much down and how much a month?

Was there an acquisition and/or disposition fee?

Is the tax, tag and registration rolled into the payment or did you have to pay up front?

Finally, are you eligible for the EV tax credit?
 
That’s a lot of discount. If the depreciation priced in makes sense, and buying is a good idea, that will be an interesting option. Time will tell what the 220 mile range is after a few years. That’s too short to be practical for me, ok depending upon some use cases.

Good luck with it, I’ll be interested to see how it holds up!
 
macarose said:
Congratulations! A few questions.

How much down and how much a month?

Was there an acquisition and/or disposition fee?

Is the tax, tag and registration rolled into the payment or did you have to pay up front?

Finally, are you eligible for the EV tax credit?
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Absolutely nothing out of pocket other than the first month's payment. The incentive paid for everything.

Acquisition fee was $695. Sigh...

No tax credit on the Mach-E, but the lease incentive more than made up for it.

$540/mo.
 
Brons2 said:
Absolutely nothing out of pocket other than the first month's payment. The incentive paid for everything.

Acquisition fee was $695. Sigh...

No tax credit on the Mach-E, but the lease incentive more than made up for it.

$540/mo.
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So basically you have the vehicle for three years at a cost of $20,135? That's 36 x $540 + $695.
 
Brons2 said:
Well we haven't even had it 24 hours yet, but the experience just driving it home was solid. The headlights are very good.

Replaces the Outlander in my signature, which I need to update now.

There is not a 240 volt circuit in the garage right now. I had planned to DIY, but the included Ford plug is a 4 prong, so I'm going to need to do some more research on the proper method of wiring that. The other question is if there's enough capacity in the garage subpanel or if I need to come off the main panel, which thankfully is directly adjacent to the garage on the outside of the house.

I have wired up dryer and AC circuits before when I remodeled a 1960s house down to the studs a while back, in fact I rewired that entire house including putting in a new outdoor box since the old one was rusty (I did have an electrician come pull the meter off to cut power to the box while I was wiring it up). Passed inspection by the notorious City of Austin inspectors, so I must have been doing something right. I am highly motivated to do everything electrical to code, so there's that as well.

Now as for the spigots on the hose bibs, that is another matter ;)
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Check with the power company as it may have to run a cable with higher amp capacity from the pole to your house. I recommend you install a separate panel for the charging circuit.
 
Brons2 said:
Absolutely nothing out of pocket other than the first month's payment. The incentive paid for everything.

Acquisition fee was $695. Sigh...

No tax credit on the Mach-E, but the lease incentive more than made up for it.

$540/mo.
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What's the buyout value at the end? Sometimes that's a nice bonus if its below market value.
 
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