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No Need To Pony Up: Lease A Mustang EcoBoost For $277/Month, $0 Down

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.

2016 Ford Mustang Liftback (source: www.ford.com)

2016 Ford Mustang Liftback (source: www.ford.com)

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.

Selling Price

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.

Select to auto-populate the acquisition fee, disposition fee, and MSD fields.
% off MSRP
e.g., cash-back offers, loyalty cash, bonus cash.
e.g., manufacturer-to-dealer cash rebate or if you live in a state where customer cash rebates are not taxed.
I want to pay my acquisition fee upfront.
%
( miles/yr)
Adjusting the miles changes the residual(%).
APR: %
Enroll in Mercedes-Benz Autopay to lower the MF by 0.00010
I want to pay my total lease payment upfront to lower the MF by 0.00073.
APR: %
%
Tax your state, county, and city levy.
Tax is levied on the monthly lease payment (most states).
Tax is levied on the sales price upfront (e.g. VA, TX, GA).
Tax is levied on the total lease payment upfront (e.g. NY, MN, OH).
First month's Payment incl. tax:
Down payment:
Registration and doc fee:
Total MSD Payment:
Tax on cap cost reduction and fees:
Acquisition Fee:
First Month's Payment:
Down payment:
Registration and doc fee:
Total MSD Payment:
Tax on the Sales Price:
Acquisition Fee:
First Month's Payment:
Down payment:
Registration and doc fee:
Total MSD Payment:
Tax on the total lease payment:
Tax on cap cost reduction and fees:
Acquisition Fee:
The number of years it would take for the accumulated monthly payments to exceed the MSRP. Higher is better.
The total cost of leasing over the lease term, including applicable taxes and disposition fee but excluding registration/license fee and the refundable MSD payment.

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