Thanks ... so the $10,750 incentive Ford is offering is really just the $7,500 tax credit plus $3,250 "cash" incentive?
It still doesn't fully make sense to me, though. Using the residual value of the 2012 Ford Focus Electric as a bogey (~$21,000 after 24 mos.) and a $12,749 "down payment" ($1,999 down + $10,750 Ford incentive), the monthly lease payment should be ~$260/mo.
In order to get $149/mo, either the dealer is ponying up an extra $5,000 or the residual for the 2013 after 24 months is $26,800, which seems really high given the 2012 numbers.
Close enough to stealing, though, for me to head over to the dealer and find the catch.