It's no secret that many electric vehicles are depreciating rapidly, even losing half their initial value in just two years. Below, we're scrutinizing how that's played out in the used Ford F-150 Lightning marketplace, and what potential shoppers should know to make the most informed purchase decision possible.When the Ford F-150 Lightning first hit the marketplace during peak EV hype, Ford positioned it as a mainstream breakthrough for electric pickup models. Just a single model year in, prices began to climb. In the several years since, some of the first F-150 Lightning models on the road have popped up in the used marketplace, while the latest models have undergone upgrades and enhancements designed to drive additional value. Add in the eight-year / 100,000 mile battery warranty coverage, and a modern second-hand F-150 Lightning stacks up as a compellingly low-risk way to enter the EV pickup scene for the first time. Here's What You'll Pay For An Early Electric Lightning Today Ford Starting prices at the F-150 Lightning's launch were $39,974 for the Pro trim grade, with the XLT coming in from $52,974, and the Lariat on offer from $67,474, each with the same 98 kWh 'Standard Range' battery pack as standard. The top-line F-150 Lightning Platinum was offered from $90,874, with the 131 kWh 'Extended Range' battery pack as standard. Destination fees added an additional $1,695, and tax credits of up to $7,500 applied at the time. If you're considering holding out for the next-generation F-150 Lightning, give this a read for a look at what's coming next.Ford spiked the prices of the Lightning for the 2023 model year, adding up to 40 percent to the sticker on some models. In 2022, the F-150 Lightning lineup covered a price range of about $40,000 to $91,000. A year later in 2023, the entry price climbed to nearly $56,000, and the top-line Platinum was tickling six-figure territory at the better part of $97,000. Milestone Model Years Of The Electric Pickup Market September 2021: Rivian R1T arrives as the first modern EV pickup to reach U.S. customers December 2021: GMC Hummer EV arrives with initial "Edition 1" launch package on the new Ultium platform May 2022: Ford F-150 Lightning hits the road with Pro, XLT, Lariat and Platinum trims June 2023: Chevrolet Silverado EV arrives in a work-truck configuration with 450 miles of range Late 2023: F-150 Lightning gets an 'Over The Air' software update that increases DC fast charging current from 450 to 500 amps for 2022–2023 models November 2023: Tesla Cybertruck arrives 2024:F-150 Lightning updated with new 'Flash' trim and upgraded heat pump system June 2024: Rivian R1T moves to its 'Gen 2' refresh with a major overhaul Summer 2024: GMC Sierra EV arrives with the Denali Edition 1 Late 2024: Silverado EV now available for retail sales with RST models shipping to customers Today, shoppers can expect to pay $35,000 to $50,000 for a 2022 model-year unit, depending on the trim grade and battery configuration. If you're willing to opt for a higher-mileage base-model unit that's out of warranty, you'll find options from the high twenties. For a 2023 model year unit, setting a budget between $40,000 and $55,000 is reasonable.For the 2024 model year, used prices take a step higher for several reasons. First, the F-150 Lightning's equipment bundles and standard feature content are reconfigured, and a new heat pump was added to provide better efficiency and range in cold weather. Additionally, the Lariat trim grade lost the option of the cheaper 'Standard Range' battery pack, reducing the supply of cheaper models running the smaller battery. As a result, the 2024 F-150 Lightning has pricing that trends higher and is more focused, between about $57,000 and $60,000.Five Typical Examples Of A Used F-150 LightningThe High-Mileage Workhorse: 2022 Ford F-150 Lightning Pro, around 120,000 miles, out of warranty, about $25,000 The Commuter Pick: 2023 Ford F-150 Lightning XLT, around 45,000 miles, roughly $33,000 The Tech-Focused Value: 2024 Ford F-150 Lightning Flash, under 20,000 miles, around $48,000 Nearly-New Luxury Value: 2025 Ford F-150 Lightning Lariat, 2,000 miles or less, virtually full warranty, around $65,000 The Top-Tier Flagship: 2025 Ford F-150 Lightning Platinum, typically under 10,000 miles, around $70,000 For a 2025 model year unit, including some that are nearly brand new, plan to spend anywhere between $52,000 and $80,000, depending on the model you're after. Buying a slightly used 2025 model year unit will also save you from paying destination fees, which don't apply to used vehicles. Key Reasons For And Against An F-150 Lightning Ford Shoppers are advised to test-drive the specific F-150 Lightning they're considering on the roughest stretch of road possible, or even a light off-road trail if available. Specifically, the Lightning's increased weight and application-specific suspension system will likely turn in a ride that's far from the 'F-150 feel' you might be used to. It's not a better or worse setup, but a different one, so bear the ride quality in mind.With 0-60 mph possible in four seconds, this family-ready pickup could outrun cars like the BMW M2 and Mustang Dark Horse in a drag race, and that's providing they've got ideal traction and a relatively capable driver at the controls. Though it can spank many a sports car in a straight line, the F-150 Lightning can also get drivers from 0-60 a full 2.5 seconds faster than a Ram HEMI, which can be good for a laugh.Ford Note that if you need a pickup truck and do a lot of commuting in traffic, the F-150 Lightning is a delight, too. Not only is it much smoother, quieter and more responsive in stop-and-go traffic, it's also at its most energy efficient in this sort of driving, where combustion-powered trucks are at their thirstiest.Still, an F-150 Lightning might not be the ideal used truck for you if you frequently need to travel long distances in extreme cold, especially towing a trailer. Note that extreme cold can slow Level 1 charging speeds to a crawl, but that a Level 2 charger makes it easy to arrive to a warm cabin and full battery, even on the coldest days of the year. Up To Speed On The Ford F-150 Lightning Ford The F-150 Lightning originally launched for the 2022 model year as just the second electric pickup to arrive in shopper driveways in the US, a few months behind the Rivian R1T. Competitive pressure would quickly ramp up with the introduction of new competitors like the Tesla Cybertruck and GM's Ultium-powered pickup models.Refueling the Lightning takes just seconds out of your day to connect and disconnect from a plug, no standing around the fuel pumps required. Even running in extreme winter conditions and extreme cold, drivers can expect powerful heat, tremendous traction (with appropriate tires), and sufficient range-per-charge to handle several days worth of 'Sport Mode' winter commuting with the heat cranked before you need to think of plugging in. There's also the frunk, basically a giant plastic-lined, easy-to-clean cargo area that makes use of the space in the emptied-out engine bay. It's weatherproof, full of handy power outlets, and is sure to raise an eyebrow or two when loaded or unloaded.Ford Performance and power aside, there's a lot to like about how the F-150 Lightning works with everyday life. The big, square-shaped cabin has plenty of glass and a flat rear floor with folding seats that allow for easy setup to just about any combination of passengers, pets and gear at hand, with excellent outward visibility supporting a low-stress drive. Add an accessory slide-out 'bed slide' tray and tonneau cover, and you've got an easy place to store for strollers, bicycles, camping gear and beach toys, without taking up any passenger room on board.The latest Ford Sync infotainment system had been updated and refined from years of experience by time the Lightning rolled around, meaning drivers can expect a top-notch infotainment experience, too. All modern driver-assist must-haves are also standard or available, including hands-free BlueCruise for a taste of the latest tech.