The 2024 Ford Mustang should help the pony car maintain its title as the world’s best-selling sports model but for shoppers in the U.S. hoping to find a cheap lease deal, they are out of luck.
According to an analysis by Cars Direct, the 2024 Ford Mustang EcoBoost, equipped with a four-cylinder engine and priced at $32,515 MSRP (including destination), can be leased for $491 per month over a 36-month term. This lease requires a $3,743 upfront payment at signing and has a mileage cap of 10,500 miles per year. Taking into account the monthly payment and upfront amount, the effective lease rate reaches $595 before taxes and fees. Alternatively, a 48-month lease is a more favorable option, with a monthly payment of $426 and $3,678 due at signing, averaging around $503 per month.
More: 2024 Ford Mustang Priced From $32K, Dark Horse At $60K Or Just $6K Less Than A Corvette
Then there are the V8-powered Mustang GT and Mustang Dark Horse models that have been wholly excluded from promotional lease rates, making them very expensive. Indeed, customers who take out a 60-month loan on a Mustang GT Coupe with an MSRP of $44,090 including destination will need to cough up $874 a month with no money down at a 7% interest rate. A 72-month loan is still very expensive at $752 a month and this deal will require the customer to pay more than $10,000 in interest over the period of the loan. And that’s if they get it without any markups.
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The Mustang Dark Horse is considerably more expensive again. Ford says that $60,865 (with destination) entry-level model over a 60-month term without a down-payment will cost $1,206 per month while a 72-month loan will see this drop to $1,038 a month.
While the Ford Mustang has all the ingredients to be an excellent sports car, it has yet to reach the hands of customers in part because of quality issues that recently prompted Ford to cut production at its Flat Rock Assembly Plant. It is understood that Ford is addressing issues with the fitment of body panels, valves in the V8 engine, and the car’s electrical systems.
