Redesigned in 2015, the current Mustang is Ford's latest take on America's iconic pony car. The EcoBoost model in particular exemplifies the core Mustang values of style, affordability, and fun.
Because less is more on a car like this, we'd spec ours in Guard (dark green) with a six-speed manual transmission and no options. All Mustangs already come decently equipped with Xenon headlights, Bluetooth, and reversing camera. Here's how much it costs to lease one.
The Lease Program
The cost of leasing a particular car is determined by its lease program, which is set by the manufacturer, and the selling price, which is set by the dealer. Here is Ford Credit's lease program for January 2016:
|Lease Program (36 months, 10,500 mi/year)|
|Model (2016)||Residual||Interest Rate|
|Mustang Fastback V6||58%||2.0% APR|
|Mustang Fastback EcoBoost||59%||2.0% APR|
|Mustang Fastback Ecoboost Premium||59%||2.0% APR|
|Mustang Fastback GT||64%||6.6% APR|
|Mustang Fastback GT Premium||61%||6.6% APR|
Lease rates valid for most states, including California, Illinois, New York, Georgia, and Florida.
There is no lease cash on Mustang. However, there are some targeted incentives that vary slightly by region. For example, there's $1,000 Competitive Lessee Cash in New York and $250 Competitive Lessee Cash in California. Alternately, there's a $500 Recent Grad/Military/Police incentive that can be used.
A 2016 Mustang Liftback EcoBoost has an MSRP of $26,545. According to a third-party car shopping website, the average selling price of that model is $25,935 before incentives (Southern California zip code). The lowest selling price currently offered by a dealer on said car shopping site is $24,300 before incentives.
Putting It Together ($277/Month)
Use the lease calculator below to customize your own inputs. Here's a sample deal of a Mustang Liftback EcoBoost assuming a selling price of $24,300, a California sales tax rate of 9%, a 10,500 miles per year lease, and use of the $500 College Grad incentive.