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

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)

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.

(11/13/17: Have issues with the calculator loading? Refresh the page. We are working on a fix.)

MSRP:

Sales Price:

% off MSRP

Taxed Incentives:

e.g., cash-back offers, loyalty cash, bonus cash.

Untaxed Incentives:

e.g., manufacturer-to-dealer cash rebate or if you live in a state where customer cash rebates are not taxed.

Down Payment:

Acquisition Fee:

I want to pay my acquisition fee upfront.

Net Capitalized Cost:

Residual: %

( miles/yr)

Months:

Miles/yr:

Adjusting the miles changes the residual(%).

Money Factor:

APR: %

Monthly Payment (Excl. Tax):

Document Fee:

License/Registrat. Fee:

Sales Tax: %

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).

Monthly Payment (incl. tax):

Drive Off:

First month's Payment incl. tax:
Down payment:
Registration and doc fee:
Total MSD Payment:
Tax on cap cost reduction and fees:

First Month's Payment:
Down payment:
Registration and doc fee:
Total MSD Payment:
Tax on the Sales Price:

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:

Leasehackr Score:

The number of years it would take for the accumulated monthly payments to exceed the MSRP. Higher is better.

Disposition Fee:

Total Lease Cost:

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.