DETROIT — Ford Motor Co. will begin accepting $100 refundable deposits for the 2021 Bronco immediately after revealing the SUV on July 13.
The deposit essentially puts customers in line for the vehicle, allowing them to configure it and choose a dealership. Ford will convert those deposits into completed orders at a later date, when the customer confirms final pricing and specs.
The process is similar to what Ford offered with the Mustang Mach-E, although customers had to shell out $500 to earn a spot in line for the electric crossover, which hits showrooms later this year. The deposit trend was popularized by Tesla, which last year began accepting $100 refundable deposits for its Cybertruck. Tesla CEO Elon Musk has said the company received more than 250,000 deposits.
The news of the refundable deposit first appeared on Bronco fan forums yesterday, and a Ford spokesman confirmed the plan to Automotive News.
Ford will unveil the Bronco, along with the smaller Bronco Sport crossover, on July 13. The reveal has been postponed twice since the original spring timing.
The Bronco is expected to go on sale early next year. Ford recently revamped its accessories business and hopes to offer hundreds of add-ons at launch.