Ford
Ford Mustang Mach-E now has 0% APR Financing
Ford Mustang Mach-E electric vehicle (EV) now has a 0% Annual Percentage Rate (APR), reveals a new memo sent to dealers in the US.
CarsDirect reports that the new 2024 Ford Mustang Mach-E models are now eligible for 0% APR for 48 months. This is the second time in less than a week that the automaker switched pace on the financing rate.
Ford previously offered 2.9% APR on 4-year financing, which was reduced to 1.9% earlier this week. That’s not it, other financing terms were also slashed for Mach-E models. That includes 60-month financing down from 3.9% to 0.9% APR and the 72-month rate declined from 5.9% to 2.9% APR.
An estimate suggests a 6-year loan could save up to $5,000 on a $50,000 SUV. This is the best time to pick up a Mach-E model, which now beats the Tesla Model Y’s recent 0.99% financing rate. There’s a key difference in ease of purchase between the two models. Model Y is eligible for a $7,500 Federal tax credit, while Mach-E isn’t.
The model lost its eligibility for federal incentives after 2024 EV battery sourcing rules restricted imports from some markets including China. However, companies may still reassess their model supply chain and make changes to regain eligibility.
Availability
This new 0% APR on the 2024 Mustang Mach-E is not available throughout the US. Instead, it could be available in some states including:
- Arizona
- California
- Colorado
- Florida
- Michigan
- Oregon
- Texas
- Washington
Meanwhile, other states will continue to offer a 1.9% rate for a 48-month term based on details published on the official website. But Ford has 0% financing available on all 2023 Mustang Mach-E Inventory models for up to 72 months. The inventory Mach-E GT model is also eligible for a $3,000 bonus cash.
Customers can also opt for a lease offer with MSRP savings of up to $10,000 in some states but you will have to trade a Tesla EV to catch this saving. The latest 0% APR on the Ford Mustang Mach-E 2024 model could stand by July 8.