But we bet it'll sell fast anyway.
The Ford Mustang Mach-E is already becoming quite the sales success, and with a GT version coming that is quicker than a Porsche 911, those sales are sure to spike further. Or are they? While we have no doubt that the majority of the car-buying public will lap the Mach-E GT up as fast as the Bronco when orders open, some may be a little circumspect after reading this article. According to CarsDirect, the Mach-E GT will be pricier than expected thanks to a significantly higher financing rate than other trims of the same car. We do tend to be rather pessimistic when we see stories like this, but we feel justified in this instance - this looks like a blatant effort to pump up profit margins for no good reason.
According to the report, Ford's interest rates for the GT version are as much as two percent higher than those of other Mach-E models. "For example, Ford Credit's 72-month rate of 5.9% APR is noticeably higher than the 3.9% deal on less-expensive styles." And it gets worse: "In the most extreme cases, the Mach-E GT has an 84-month rate of 6.9 percent."
On a $60,000 vehicle, that translates to over $15,800 in interest alone. Of course, the potential of a $7,500 federal tax credit and state incentives can help to soften the blow, but this is still one unusually expensive structure.
The report also mentions that Ford doesn't pass the tax credit on when you lease the car, so it becomes even pricier. But things are a little more affordable with a lease-like contract called the Ford Options Plan. "With the standard Mach-E, the program offers an interest rate of 2.25% in many parts of the country. In the case of the GT, the rate actually comes in at 1.4%. Most Mach-E configurations also qualify for up to $2,500 in Ford Options Retail Bonus Cash you can't get otherwise." So yes, the Mach-E GT will be pricier than expected, but only if you don't do your research.