F-150 Lightning Always-On Financing Rates Released - Effective May 6, 2022

Administrator · May 9, 2022

Ford Credit has released its "Always-On Rate" financing rates, effective May 6, 2022.

Always-On Rates are aimed at providing consumers with "a transparent and simple pricing experience." This means that dealers may not mark-up the finance rates.

Always-On Rates apply for Standard Retail, Options and Flex Buy Contracts on the F-150 Lightning.

Rates (up to 72 months) as follows:

Tier 0-1 Credit: 4.90%
Tier 2 Credit: 6.90%
Tier 3 Credit: 8.90%
Tier 4 Credit: 14.90%
Tier 5 Credit: Standard Rate

Rates (Up to 73-84 months): 100 bps (1%) increase

Also see:

F-150 Lease Residuals - https://www.f150lightningforum.com/...ptions-plan-released-compared-to-mach-e.8925/

Roy2001 · May 9, 2022

This is high.

gorwell · May 9, 2022

Someone tell me that this isn't shit....

Guess ford options is a no go for me unless they have like a 2k incentive.

Hamtech · May 9, 2022

This fine print is interesting “The above referenced program guidelines apply to Mach-E and F-150 Lightning sales with the exception of Low APR offers from Ford Motor Company.”

Do not understand why Ford would report Tier 0-1 at 4.9% if there is the potential for lower Apr offers for high credit score applicants.

gorwell · May 9, 2022

Hamtech said:
Do not understand why Ford would report Tier 0-1 at 4.9% if there is the potential for lower Apr offers for high credit score applicants.

I guess we could hold out some hope that there's another hidden level for those of us with high credit scores. If it gets to around 3% I'd consider it.

DrZoidberg · May 9, 2022

They’re smoking crack. Should be 0% for compensation of the delay and ever diminishing features. I’ll die on my deleted ambient lighting hill, idgaf.

Sdctcher · May 10, 2022

Example: (Double Check My Figures

)

Ford Options:
$85,000 Lariat ER Purchase ($80,000 Truck + $5,000 Tax/Fees)
$20,000 Down
48 Month Residual @55% = $44,000
Principal Finance = $41,000 @ 4.9% and 48 Months ($80,000 - $44,000 + $5,000)
Interest Finance = $65,000 @4.9% and 48 Months

= $850/Month Principal + $170/Month Interest

Total Payment $1,020/Month for 48 Months
+ $35,000 Balloon Payment Due in 48 Months

NOPE - The only one who would jump at this is one who could not qualify for a $200/Month higher payment.

My Credit Union:
$85,000 Lariat ER Purchase
$20,000 Down
Finance $65,000 @ 2.49% and 60 Months

= $1,080/Month Principal + $135/Month Interest

Total Payment $1,215/Month for 60 Months
No Balloon Payment

If Ford could sweeten this offer I could stomach the high interest rate. I checked around and this rate is at least 1%-2% Higher than most any other commercial lenders right now.

RickLightning · May 10, 2022

On principle, it is principal.

TechTutor · May 10, 2022

They are out of their minds. A local credit union (First New York FCU) is 1.74% for 60 months, and in addition there is a .5% discount for it being a hybrid or EV. I just need Ford to get their head out of their butt and get me my truck.

sotek2345 · May 10, 2022

Sdctcher said:
Example: (Double Check My Figures )

Ford Options:
$85,000 Lariat ER Purchase ($80,000 Truck + $5,000 Tax/Fees)
$20,000 Down
48 Month Residual @55% = $44,000
Principal Finance = $41,000 @ 4.9% and 48 Months ($80,000 - $44,000 + $5,000)
Interest Finance = $65,000 @4.9% and 48 Months

= $850/Month Principal + $170/Month Interest

Total Payment $1,020/Month for 48 Months
+ $35,000 Balloon Payment Due in 48 Months

NOPE - The only one who would jump at this is one who could not qualify for a $200/Month higher payment.

My Credit Union:
$85,000 Lariat ER Purchase
$20,000 Down
Finance $65,000 @ 2.49% and 60 Months

= $1,080/Month Principal + $135/Month Interest

Total Payment $1,215/Month for 60 Months
No Balloon Payment

If Ford could sweeten this offer I could stomach the high interest rate. I checked around and this rate is at least 1%-2% Higher than most any other commercial lenders right now.

I thought the residuals were much lower than that?

Administrator · May 10, 2022

sotek2345 said:
I thought the residuals were much lower than that?

Here are the Lightning lease residuals.

https://www.f150lightningforum.com/...ptions-plan-released-compared-to-mach-e.8925/

RickLightning · May 10, 2022

TechTutor said:
They are out of their minds. A local credit union (First New York FCU) is 1.74% for 60 months, and in addition there is a .5% discount for it being a hybrid or EV. I just need Ford to get their head out of their butt and get me my truck.

You clearly don't understand what "Always-On" financing rates means.

First, you need to understand that unless a rate is promotional, Ford dealers can, and often do, mark up rates. So, you apply via Ford Credit for a loan, get approved, then when you're at the dealer they see you qualified for 2.9%, and they offer you 4.9%. You have no visibility to, or knowledge of, the fact that you qualified for 2.9%.

In addition, many dealers will offer financing from sources other than Ford Credit, although a consumer may be unaware of that until signing.

Setting these base rates that cannot be jacked up is smart on Ford's part. It doesn't negate any promotional rates they may have, including with Ford Options. It tells the Dealers what's what. And sets the state for EV sales in the future no matter what rates do.

Sdctcher · May 10, 2022

sotek2345 said:
I thought the residuals were much lower than that?

https://www.f150lightningforum.com/...ptions-plan-released-compared-to-mach-e.8925/

According to this leasing bulletin from Ford Credit, the 2022 F-150 Lightning has a 36-month residual value of 60% for the entry-level Pro work truck. That's actually high for an EV, but lower than the 63% residual of a gas-powered all-wheel-drive F-150 XL, and the 65% residual of a well-equipped F-150 PowerBoost Hybrid.
Feb 18, 2022

Correct - But the final residual values have not yet been released nor were they included in the latest Dealer Bulletin. (Correction - Adm has posted the Ford Residuals for Q1)

But it is really not realistic to think they would be lower than the ICE given estimated production and market conditions today. It is my GUESS that the Lariat ER will be about 55% @ 48 Months.

You can run your own Monthly Payment Estimate under Ford Options by just substituting XX% in place of my estimated 55%.

sotek2345 · May 10, 2022

Sdctcher said:
https://www.f150lightningforum.com/...ptions-plan-released-compared-to-mach-e.8925/

According to this leasing bulletin from Ford Credit, the 2022 F-150 Lightning has a 36-month residual value of 60% for the entry-level Pro work truck. That's actually high for an EV, but lower than the 63% residual of a gas-powered all-wheel-drive F-150 XL, and the 65% residual of a well-equipped F-150 PowerBoost Hybrid.
Feb 18, 2022

Correct - But the final residual values have not yet been released nor were they included in the latest Dealer Bulletin. (Correction - Adm has posted the Ford Residuals for Q1)

But it is really not realistic to think they would be lower than the ICE given estimated production and market conditions today. It is my GUESS that the Lariat ER will be about 55% @ 48 Months.

You can run your own Monthly Payment Estimate under Ford Options by just substituting XX% in place of my estimated 55%.

Thanks - I was looking at an ER lariat for 48 months at 12k miles/yr. Looks like a 40% residual (seems low, but at least better than the Mach-e. Racking the numbers with 77k financed an their 4.9% rate gives a payment around $1,250 per month. If I go through my credit union I can get about $100/mo less on a 72 month loan, and pay way less interest.

Ford options was a great deal on the Mach-e, even with the low residuals - but it just doesn't seem to make sense on the Lightning unless they are throwing in some kind of incentive or a lower rate. I was hoping to use it to transfer the resale risk (i.e. something crazy like Gen 2 Lightning or new Ford truck comes out with 800 mile range at half the cost), but may just stick with traditional financing.

LightningShow · May 10, 2022

Yuck.

F-150 Lightning Always-On Financing Rates Released - Effective May 6, 2022

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