It goes without saying that there are myriad factors when it comes to a vehicle purchase. It’s not just fuel economy, size, utility and price. Sometimes it’s more complicated things like insurance rates, residual value, and tax incentives. It also has to do with leasing incentives. And it all may explain why so many people continue to buy full-size trucks, even if they don’t necessarily use them to their full potential. It’s not just about a supposed “image,” as it could make more financial sense than getting anything else. Of course that buying logic applies to other vehicles, too. To that end, there’s been curiosity about whether or not the new 2024 Ford Mustang will be a good buy. And we now have an answer for that.
According to CarsDirect, the latest dealer residual value guide from Ford Credit indicates that some versions of the pony car will be just 1% better than the outgoing model.
2024 Ford Mustang Residual Value: Details
However, if you’re a lessee, there may be a hidden opportunity. However, some versions of the all-new car have a residual value of just 45%. The figure in question is for the turbocharged 2024 Ford Mustang EcoBoost convertible based on a 36-month lease and allowance of 15,000 miles per year. That’s not a great percentage, but it can be bumped up if you opt for an entry-level 2024 Mustang EcoBoost coupe making the residual value go up to 50%. That percentage can be improved to 53% by opting for Ford’s standard advertised allowance of 10,500 miles per year.
In that scenario, 2024 Ford Mustang GT residual values are slightly better at 56% for the coupe and 54% for the convertible. Unfortunately, Ford still needs to publish the residual values for Dark Horse. At 53%, the residual value of the 2024 EcoBoost Mustang is just 1% better than a comparable 2023 Mustang. That could be surprising for shoppers waiting to get their hands on the redesigned pony car due to arrive this summer.
That being said, lessees can get a better deal on a 2024 Ford Mustang if they opt for a 24-month lease which increases the residual value of a Mustang GT to as much as 64%. A shorter lease for the 2024 Ford Mustang could mean a better deal for shoppers. Looking at these percentages gives a pretty good indication of how well the S650 Mustang will hold its value over the years. It’s similar to that of the outgoing model. It all comes down to whether you want to get your hands on the last muscle car with a V8 engine and if you plan on getting rid of it later.