2024 Flash Purchase or Lease and incentives in MA

[broncoaz]

I’m looking to jump into another Lightning. I had a 2022 Pro when they first came out, but sold it relatively quickly. Since then I’ve moved and have a Tesla Y and enough surplus solar on the house to feed a Lightning about 12,000 miles per year. I don’t own a pickup currently and would like to get one for normal dump runs, home improvement, towing my boat (short distances), and possibly for work. I’m considering trading my paid off 2021 Bronco for a new Lightning, or leasing a Lightning and maybe keeping the Bronco. In MA there is a $7500 EV incentive. I saw a local dealer advertising $15K off MSRP plus the federal incentive, so $22,500 off the $73K MSRP. Unfortunately they are including the state’s $7500 in their $15K, and $7500 in Ford incentive money. I was hoping to be getting $30K off MSRP.

Here is how the numbers work out. Obviously I would negotiate off MSRP and try to reduce this further.

$73,000 2024 Lightning Flash with tow and pro power
-$7500 ford incentives
-$7500 MA incentives
-$7500 federal incentives
-$1500 Tesla conquest cash
-$2000 in lieu of Ford 80 amp Charger and install (I have a 48 amp Tesla charger already)
$3875 sales tax
$685 dealer doc fee
$51560 plus plates

My Bronco is worth $40,875 according to their online KBB tool, so it will offset $2555 in sales tax. I would expect them to play games on trade value, so I wouldn’t mention it until the rest of the deal is done.

$51560
-$40875 Bronco
-$2555 Sales tax offset
$8130 out of pocket or take a check and finance at 0% if available.

If I could lease the truck cheap enough that would also be fine for me. I asked for lease numbers and was given a number of $0 down $709 per month for 36 months and 10,500 miles per year. The sales manager is being really cagey about the $7500 federal incentive, suggesting the bank just keeps it. Reading here it appears that different trims get a different federal incentive on the lease, I saw another post on here saying they give $3500 in lease credit. For the state incentive they said I have to file for it and will get a $7500 check from MA in 6-8 weeks. Using their numbers it looks like this:

$709x36 = $25,524.00 total payments with $9,000 in ford incentives = $34524 for the lease on a $73,000 truck
$25,524 lease total
-$3500 Federal incentive
-$7500 MA rebate (I would put $7500 down)
-$2000 in lieu of Ford 80 amp Charger and install
$12,524 remaining balance = $348 per month for 36 months

Do these numbers make sense, or am I missing something? I don’t know if the X plan cash deal I read about below is still going. I don’t know that I would be able to get a pin before the end of the year but I have a few friends in AZ who work at Ford dealerships.
https://www.f150lightningforum.com/...plus-3395-options-49-880-with-a-z-plan.21880/

I like the idea of leasing the Lightning so as the tech improves I can plan on an upgrade. If I buy I’d add the extended warranty and plan on driving it for 6-8 years. I would expect the resale on a 6-8 year old Lightning to be pretty awful with new products coming to market in 2030-2032.

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[Dfair]

I bought a 2024 lightning flash 2 weeks ago in Ohio. No state incentives.

I've already forgotten all of the Ford incentives, but including the 7500 Fed tax credit, I got 18K off. This included incentives for Ford"s affiliate companies.

I wanted to lease, but Ford is keeping the 7500 tax credit on lease deals (which really ticked me off).

Overall, though, I love the truck and was happy with the deal.

 

[Dfair]

Also they're only giving 1k for passing on the Ford charging station.

 

[broncoaz]

Also they're only giving 1k for passing on the Ford charging station.

The dealer page is showing $2K for the charge station credit in my area. I also see $6K in X plan cash.

 

[Ricks Lightning]

With a Flash lease, the best I got was 0 down
1.1% interest.
Ford keeps the 7500. But gives you some cash credit.

With a purchase 0 down, 0% interest. 7500 federal cash.

California. 9.5 % sales tax LA county.

Purchased a pro for 4 months loved it. Sold it for 45k. Took over my ford payments 0 down 0 interest.

Leased a flash 3 months ago. Same package, pro power, tow, bed liner.

Rick

 

[Dfair]

The dealer page is showing $2K for the charge station credit in my area. I also see $6K in X plan cash.

Yeah, they were showing 2k here too, but when they put the deal together they said Ford dropped it to 1k. Hope you get 2!

 

[broncoaz]

I was able to generate a X plan pin through my insurance company membership.

 

[broncoaz]

I spoke to one of the dealerships in Boston today. I got the right no BS internet sales guy who seemed happy to rattle off numbers. He said the X-plan $6500 cash wiped out the $3500 RCL cash, $2000 customer cash, and $1000 bonus cash; so that would be a wash. There is another $1000 offer I could still get. I received a Ford private cash offer yesterday for $2500, but that wipes out the $1500 Tesla conquest offer. The Ford Promise plan incentive did drop to $1000 in mid November, so I might as well have them install another charging station since I'd have 2 EV's at the house. No matter how we slice it I get to $10K in incentives and Ford installing an additional charging station at my home. X-plan pricing saves $2797 and $371 on their doc fees.

36 month 12 miles per year lease with $940 down (including plates, excise tax, etc) is $610 per month. I would collect a $7500 rebate from MA after the fact.

Putting $7500 down to offset the MA rebate I'd collect back drops the payment to $421 per month.

Total lease cost $22929 after $10K in incentives, minus the MA rebate it works out to $15,429 for three years. I was hoping the incentives would stack up a little more, but $5K per year for a new $73K pickup is still pretty cheap.

Compared to a gas F-150 (or my Bronco) I calculate saving $2166 per year in gasoline and have the capacity in my home solar to support 12K miles per year at 2.1 miles per kWh. In three years that equals $6498 I could boy math deduct from the cost of the lease.

I haven't broached the subject of trading in my Bronco with the dealer, that would save me about $2K in sales tax on the lease. Carvana offered $36K for the Bronco, Carmax wanted pictures and will get back to me.

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