- The base Mach-E Select RWD is available for as little as $319 per month over 36 months.
- The Tesla Model Y can be leased for $499 per month in the U.S. for 36 months.
- Ford increased lease discounts by roughly 400% in June and has jacked them up again.
If you can get over the fact that the Ford Mustang Mach-E isn’t a real Mustang, you’ll find that it’s a competitive EV and, in our eyes, a slightly more appealing alternative to the class-leading Tesla Model Y. Thanks to generous discounts in the U.S., the electric Ford SUV is also much cheaper to lease than the Tesla.
Ford has offered plenty of lease deals on the Mustang Mach-E since its launch, and they are now particularly generous. Earlier this month, Ford increased the lease cash available on the 2024MY to $9,000 and is offering a $600 Summer Sale bonus. In the case of the Mach-E Select RWD, this reduces monthly payments on a 36-month lease to $319, with $4,469 due at signing.
Read: Ford Pushing Its Managers To Buy Their EVs And Help Spread The Word
By comparison, the Tesla Model Y Long Range All-Wheel Drive, a higher-spec model than the Mach-E Select RWD, is currently available from $499 per month for 36 months with $2,999 down. Those wanting the flagship Model Y Performance All-Wheel Drive will need to cough up a monthly payment of $599.
Ford has been playing around with lease prices for the Mustang Mach-E a lot over the past few months. In June, it increased discounts by roughly 400% to $7,500 and then again for July. This current deal will be available until September 3. The final figure will vary depending on where you live, with these prices specific to Southern California.
Shoppers don’t only stand to save money leasing a Mustang Mach-E when compared to a Tesla Model Y but also when compared to some standout hybrid crossovers. For example, Cars Direct notes that the 2025 Honda CR-V Hybrid Sport commands $379 per month over 36 months with $4,499 due at signing, or an effective payment of $487 monthly. The 2024 Toyota RAV4 Hybrid is slightly more affordable, commanding a monthly payment of $399 over 36 months but with $2,999 required upfront, reducing the effective cost to $482.
