The Ford Mustang Mach-E is finally on sale across the United States. The order books are now open and Ford will be happy to accept your deposit and work with you to finalize your purchase deal. It turns out you can already get 84-month financing from the manufacturer.
In a new report, CarsDirect explains that this may sound like an intriguing deal but that’s not necessarily the case. Leaked information from dealer incentive bulletins shows that the seven-year financing comes at a steep 5.9 percent annual percentage rate (APR) compared to 3.9 percent APR for a 72-month deal.
In addition, if you go for a 48-month financing option, it would come with a 0.9 percent APR, which will result in just $832 in interest for a $45,000 crossover. In turn, the 84-month deal has a huge $10,000 interest and brings the total price to more than $55,000.
CarsDirect also points out that electric vehicles depreciate more heavily than traditional cars and that’s something customers should be aware of when purchasing a new EV. A BMW i3, for example, loses 63 percent of its value during the first years of ownership compared to an average of 38 percent for all vehicles.
Gallery: 2021 Ford Mustang Mach-E
“Electric vehicles depreciate more than any other vehicle segment due in part to the state federal incentives that were in place when these vehicles were sold new," research company iSeeCars’ CEO Phone Ly explains.
With order books now open, customers who made early reservations can finally finalize their deals for the Mustang Mach-E. The first deliveries are scheduled for the fourth quarter of this year.