harlano
Well-known member
- Thread starter
- #1
Ford F-150 Lightning Has Up To A $15,000 Discount
Ford appears to be banking on big rebates to sell as many F-150 Lightnings as it can in the final months of the year. According to incentives introduced last week, the F-150 Lightning now features as much as a $7,500 discount for buying or leasing. This could enable some shoppers to score up to $15,000 in savings.
Through January 2nd, the F-150 Lightning Platinum features a choice between $7,500 in Retail Customer Cash or the same amount in Red Carpet Lease Customer Cash. Confusingly, the Lariat has a $7,500 purchase discount but only $5,000 for leasing. The XLT gets $1,500 off for either, while the Pro has none whatsoever.
According to our records, this is the largest discount that Ford has ever offered on the F-150 Lightning. It's also worth knowing that the EV is eligible for a $7,500 federal tax credit on purchases. While there is an $80,000 MSRP cap, this could translate to as much as $15,000 in savings on the well-equipped Lariat.
However, there are some drawbacks. Our analysis found that Ford Credit's underlying F-150 Lightning residual values dropped this month between 4% and 8% depending on the trim. In the case of the Platinum grade, the 36-month residual fell from 59% to 51%. Lower residuals are often followed by higher lease prices.
What's more, Ford Credit appears to have scrapped promotional lease rates on the F-150 Lightning. Previously, our records show F-150 Lightning money factors from 0.15% for the Platinum grade, which is essentially 0% APR. Based on offers here on the West Coast, it appears rates recently increased to 4.76%.
As before, there are no financing deals and Ford's online payment estimator lists an interest rate of 7% APR. On a 5-year loan with $0 down, the XLT now starts at $1,099 per month. The figure includes this month's $1,500 customer cash incentive, which brings the price down from an MSRP of $56,990 to $55,490.
Still, lower prices as a result of the rebates could help Ford move the needle on F-150 Lightning sales. When the truck was first introduced, the company didn't offer F-150 Lightning lease deals and promoted a lease-like balloon financing program called Ford Options Plan. Now, it appears that the strategy has shifted.
As we reported earlier today, Ford Mustang Mach-E incentives changed significantly as well. For both models, it appears that Ford decided to offset lower residual values with big upfront incentives. Whether or not this approach proves to be successful remains an open question amid a growing shift in competition.
Original Post:
My dealer sent me this today:
I have an XLT on the way. Makes me think I should have got the Lariat. Nah, I don't like leather seats
Ford appears to be banking on big rebates to sell as many F-150 Lightnings as it can in the final months of the year. According to incentives introduced last week, the F-150 Lightning now features as much as a $7,500 discount for buying or leasing. This could enable some shoppers to score up to $15,000 in savings.
Through January 2nd, the F-150 Lightning Platinum features a choice between $7,500 in Retail Customer Cash or the same amount in Red Carpet Lease Customer Cash. Confusingly, the Lariat has a $7,500 purchase discount but only $5,000 for leasing. The XLT gets $1,500 off for either, while the Pro has none whatsoever.
According to our records, this is the largest discount that Ford has ever offered on the F-150 Lightning. It's also worth knowing that the EV is eligible for a $7,500 federal tax credit on purchases. While there is an $80,000 MSRP cap, this could translate to as much as $15,000 in savings on the well-equipped Lariat.
However, there are some drawbacks. Our analysis found that Ford Credit's underlying F-150 Lightning residual values dropped this month between 4% and 8% depending on the trim. In the case of the Platinum grade, the 36-month residual fell from 59% to 51%. Lower residuals are often followed by higher lease prices.
What's more, Ford Credit appears to have scrapped promotional lease rates on the F-150 Lightning. Previously, our records show F-150 Lightning money factors from 0.15% for the Platinum grade, which is essentially 0% APR. Based on offers here on the West Coast, it appears rates recently increased to 4.76%.
As before, there are no financing deals and Ford's online payment estimator lists an interest rate of 7% APR. On a 5-year loan with $0 down, the XLT now starts at $1,099 per month. The figure includes this month's $1,500 customer cash incentive, which brings the price down from an MSRP of $56,990 to $55,490.
Still, lower prices as a result of the rebates could help Ford move the needle on F-150 Lightning sales. When the truck was first introduced, the company didn't offer F-150 Lightning lease deals and promoted a lease-like balloon financing program called Ford Options Plan. Now, it appears that the strategy has shifted.
As we reported earlier today, Ford Mustang Mach-E incentives changed significantly as well. For both models, it appears that Ford decided to offset lower residual values with big upfront incentives. Whether or not this approach proves to be successful remains an open question amid a growing shift in competition.
Original Post:
My dealer sent me this today:
I have an XLT on the way. Makes me think I should have got the Lariat. Nah, I don't like leather seats
