It's all because of current incentives.
Although they're very different vehicles, the Ford Mustang Mach-E and Mustang GT share a common name and heritage. Not every Mach-E customer is interested in a V8-powered Mustang coupe or convertible, and vice versa. Still, the Mach-E is all-new, features more advanced technologies, and is far more family-friendly. Not surprisingly, it's also more expensive. Most of the time.
CarsDirect has closely examined the current financing rates between the 2021 Mach E and Mustang GT and despite the former's higher MSRP, it's actually cheaper to finance. Let's discuss. The cheapest Mach-E carries an MSRP of $43,995 including destination. The Mustang GT begins at $38,910 if you opt for the optional automatic transmission.
Ford Credit is currently offering a very attractive 1.9 percent APR interest rate for 60 months on the Mach-E while the Mustang, including the GT, has a 2.9 percent rate for the same time period. In general, Mustang incentives are not very attractive right now, which is kind of unusual given the recent end of year deals typically offered. For example, V8-powered are still not included in standard rebates. The 2021 Chevy Camaro V8, meanwhile, is now eligible for GM Employee Pricing for non-employees.
Back to the Mach-E: It's being launched with up to $11,000 in available discounts, plus the $7,500 federal tax credit and other incentives, depending on the region. In California, for example, there's a $2,000 Clean Vehicle Rebate.
Factor that all together and the cheapest Mach-E dips to just $32,995. That's nearly $6,000 less than the cheapest Mustang GT. Again, the Mach E and Mustang are not direct rivals and never will be, but the Mach-E does still offer fantastic performance, such as instant torque, and Mustang-like handling. The fact that it's zero-emissions could potentially be the deciding factor for some.
But the Mustang GT's naturally aspirated 5.0-liter V8 with 460 horsepower and 420 lb-ft torque can be had for as little as $36,000. Only in America. Ford's current Mach-E offer expires on January 4.