Last day! It was fun expensive and …

[flypony53]

Inflation and shortages helped make the numbers look good. I did the same with my 2015 M235i. I kind of planned on keeping it for a long time, but prices just kept going up.....

Did the same thing with a 2016 Yukon Denali. Pandemic shortages earned me $40k in 2022. Bought a Tesla Model 3 while I waited on the delivery of my Lightning. Traded it in on the Lightning for what I had in it. Cost me insurance and electricity to drive for 4 months.

Gone are those days. The value of my Lightning has remained stable for the last year or so. Anyone looking at a vehicle they drive as an investment is always going to be disappointed.

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[F150ROD]

The one great thing about trucks in general is that depreciation doesn’t matter. You can keep it for a very long time and it will always be useful even if it just sits in the driveway parked.

I’m hoping for aftermarket battery packs in the future that will be make these even more “valuable”

Either way, I am of the opinion that the Ford Lightning will eventually hold steady at around $35k no matter the mileage as the next iteration will be slower but possibly more range/faster charging. Just not a fun. If there is another one.

 

[Hank42]

The one great thing about trucks in general is that depreciation doesn’t matter. You can keep it for a very long time and it will always be useful even if it just sits in the driveway parked.

I’m hoping for aftermarket battery packs in the future that will be make these even more “valuable”

Either way, I am of the opinion that the Ford Lightning will eventually hold steady at around $35k no matter the mileage as the next iteration will be slower but possibly more range/faster charging. Just not a fun. If there is another one.

Here's to what you're saying comes to fruition - but I hoping for 3rd party packs, or even manufacturer replacement packs to become affordable is fairy dust. Just in the way a economy works, it'll be more cost effective to replace the whole vehicle than to replace a battery. I learned this with my 2012 Tesla Model S - thinking "in 10 years, there'll surely be 3rd party or lower cost replacement battery options available". That car is worth $7K now, and a replacement pack is at least $15k. That is a nice down payment on a new vehicle with less wear and tear and more bells and whistles.
3rd party? Who's going to make a 3rd party battery and to replace who's OEM packs? With the number of lightnings out in the wild, it's probably close to last on the list of any aspiring 3rd party manufacturer. What we _really_ needs is more standardized packs across brands - but that's a far cry for a whole list of other reasons - none of which are economic.

 

[Ricks Lightning]

Where you also got screwed was what the dealer gave you for it when you sold it back.
Case in point. Bought a 23 pro in May of 24. Loved the Truck. Wanted more bells and whistles.. Shopped for a 24 Flash and purchased it Sept of 24.. Basically had the pro for 4 months and 2500 miles.
Dealers were offering 34k for my 55k msrp window sticker. They were all about the same with dealers and online car lots..

Leased my new Flash for 3 years. While my pro that I purchased at $0 down 0% interest.

Put an add on craigs list for 45k with lots of pictures. Had 1 buyer wanting it but couldn't come till the weekend. Had another guy show up in under an hour.
When I told him I can get Ford to give him my$0 down 0% interest with good credit. He jumped on it. It took approx 5 weeks to process all the documents. Ford is in no hurry to process the documents. Plus they needed a total of 6 payments to accept the transfer.
Buyer was patient and all worked out for both of us.

But in the mean time, I had the first person hanging in there incase my buyer fell through and a 3rd buyer as another backup .

I didn't budge on the price and at the end of the entire process, The new buyer took over my payments in Oct of 24. He didn't have to spend a penny until Jan, 25.

I got out of it with a 5k loss, including all the taxes and license fees..

Moral of the story, Ford dealer screwed you coming and going.

Lesson learned, lease the vehicle so in 3 years it's their problem. Plus as a work vehicle, I write it off anyways.

Rick

 

[digitys]

This was a very poor financial decision. The depreciation of a new vehicle no matter what you buy. Good luck to you and yours.

 

[RocketGhost]

Sometimes it's ok to sell a depreciating asset to stop the bleed. If you aren't going to replace it, now's the time to sell strictly from a financial standpoint. Money wise you did the right thing. However, I don't think the further depreciation will be as bad as you think.

What the market is showing is that early adopters are willing to pay a premium for EVs but the mass market is not. In some cases a model is worth less than it's gas counterpart. So what's happened is that people who bought at a premium have seen huge depreciation. But a couple years in and it's pretty much at a stable rate.

 

[Lytning]

Depreciation is like the stock market. The value of the truck goes down and it goes back up. I bought a 2000 SVT Lightning in 2005 for $20,000. It cost $33,000 when new. I sold it in 2022 for $29,000. I buy a vehicle with the intention of keeping it for 10 or more years, so depreciation is never a concern. Selling it when it is depreciated is like selling stock after it has dropped by 50%. You just locked in the loss.

 

[hturnerfamily]

Let’s start by saying that I never lost so much money on a car(?).
Well did I?
From 80k to 40k in 3 years.
But that is not counting the rebates etc.

Best vehicle I’ve had, but it does not make sense to keep making those high payments anymore. Writing a check for 10k to satisfy negative equity: it is definitely not fun!

I wish Ford had been a little more friendly to early adopters(??)
and I may have stayed with the brand.

Will miss the ride quality, cabin space, frunk, bed, blue cruise, speed, comfort.

Will not miss: payment, depreciation, efficiency, some dealerships.

I would still recommend getting into one at the right price/lease payment.

I'm confused.
A) car??
B) drove a comfortable, roomy, self-driving TRUCK for three years...
C) "friendly" to early adopters??
D) will not miss HIGH finance payments

hmmm....
A) it's a truck... some of us understand this...
B) wow: drove a vehicle for THREE years, and now wondering why it has 'depreciated'??
would you buy a THREE year-old truck and expect to pay full price?
C) it seems that the original 'adopters' got: Extremely low pricing, a BRAND NEW vehicle, and one that does EXACTLY as it was intended - it works.
If you buy a $80k 'truck', though, and only need it for a vehicle to 'get you around comfortably, with roomy storage, and self-driving tech', you didn't need to spend that much. Mine was 1/2 that.
D) Financing a $80k vehicle, of ANY brand, will have you into a 'high' payment you might not like three years and many, many thousands of miles later. That has nothing to do with this 'truck', or 'brand', or 'depreciation'.

here's another way to calm your internal concerns:
- add up your ownership costs, including downpayment, monthly payments along the way, and even your 'upside down' payoff amount.
- divide this by the number of months you've owned this amazing machine.
- now you know your 'true' costs for driving the truck, as you would for any vehicle of that price.
- remember, too, that if you 'traded' in your truck, you've also succumbed to the LOWEST of 'depreciated values' you could possibly receive, meaning that your overall ownership cost is at it's highest. Selling it outright to another avid EV Truck lover would have netted a better outcome, although it takes more time and effort.

oh well. Some new owner is now getting a 'good' deal on a three-year-old 'used' amazing EV Machine.

 

[hturnerfamily]

"I would still recommend getting into one at the right price/lease payment."

two things to mention about this comment:

A) Boat owners know this: The second best day in an owners life is the day we buy a BOAT : )
The very BEST day is the day we sell it.

B) Car and Truck owners know this: The cheapest vehicle to 'get into' is the one you already own.

 

[Whammy Bar]

"I would still recommend getting into one at the right price/lease payment."

two things to mention about this comment:

A) Boat owners know this: The second best day in an owners life is the day we buy a BOAT : )
The very BEST day is the day we sell it.

B) Car and Truck owners know this: The cheapest vehicle to 'get into' is the one you already own.

Break Out Another Thousand

If it flys, floats, or f***s... Lease it.

 

[RickLightning]

"I would still recommend getting into one at the right price/lease payment."

two things to mention about this comment:

A) Boat owners know this: The second best day in an owners life is the day we buy a BOAT : )
The very BEST day is the day we sell it.

Bought a boat in 2017, using money from selling my father in-law's "junk". Fully paid for by that.

Sold the boat in 2024 for basically the same price.

 

[RailroaderJ]

I hate you have incurred so much depreciation. I bought my 23 XLT for $36k. Early adopters always get hit with at least 10% depreciation as soon as you drive off the lot.

 

[RickKeen]

Who knows, maybe Ford Lightnings will be collectable as their first gen of EV trucks?
But you would have to park it in a climate controlled storage for 25+ years or so to find out.

 

[Lytning]

Who knows, maybe Ford Lightnings will be collectable as their first gen of EV trucks?
But you would have to park it in a climate controlled storage for 25+ years or so to find out.

I disagree with storing it, although that would maximize the value. Drive them and enjoy them. I have a 1967 Pontiac GTO that I bought in 1970 from the original owner for $1600. It has over 100,000 miles on it and recently appraised for $105,000. Drive them, keep them perfectly maintained, and repaint and reupholster them as needed. Drive them and keep them in like-new condition. There is a member of our GTO club with a 1966 GTO he purchased new. The story is that after driving it a few years, he put it in his garage and built a sheetrock wall around it with no doors or windows. A past President of the club says he saw the car before the wall was built, and swears the story is true. I assure you that I have way better memories of my experiences with my car than he has had with his in storage.

 

[Firn]

Who knows, maybe Ford Lightnings will be collectable as their first gen of EV trucks?
But you would have to park it in a climate controlled storage for 25+ years or so to find out.

Even that is crap. Aside from some extreme exotics, most vehicles that increase in value still barely keep up with inflation.

The only way to make money on a vehicle that gains value is to find it used when its value is at its lowest. Buying new and putting it away won't break even, let alone pay for the cost of keeping it safe.

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