While not as drastic as Tesla's price cuts, it's still welcome news for the pricey pickup.
For the first time since it was launched, Ford is offering discounts on the F-150 Lightning electric pickup truck. These savings provide some relief following prices that have drastically increased since the pickup was launched – it currently starts at around $60,000, far above the sub-$40,000 price it launched with.
As per CarsDirect, a bulletin sent to dealers outlines incentives worth up to $1,500 in certain parts of the United States. Besides that, Ford Credit is providing 1.9% financing for all Lightning trims for up to 36 months, a deal that runs through October 2. There are also 48-month (2.9% financing) and 60-month (3.9%) options, or rates over 72 and 84 months of 5.9% and 7.9% APR, respectively.
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As for the first Lightning rebates from Ford, these are valid through July 31 and include $500 in Low APR Retail Customer Cash, as well as Retail Trade Assist, valued at $1,000. CarsDirect points out that these deals are, unfortunately, not available everywhere. Phoenix appears to be the best place with both of these incentives available there. California, meanwhile, offers $500 in Trade Assist for a total of $1,000 there. If combined with the $7,500 tax credit and the $2,000 Clean Vehicle Rebate in the Western state, that adds up to a saving of close to $12,000.
Shortly after the above deals were uncovered, it was also learned that Ford is offering a $2,500 discount on the Lightning if orders are placed before the end of July. Depending on the region, this discount may be lower at around $1,000.
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The maximum $2,500 discount applies to customers who buy or lease a Lightning in Atlanta, Cincinnati, Dallas, Houston, New York, and Pittsburgh. These discounts are flowing in now that inventory of the electric truck has increased.
While these discounts are welcome, most of them don't come close to accounting for the sharp price hikes experienced by the F-150 Lightning since its launch. That has not slowed down sales of the pickup, which increased by 119% in the second quarter of 2023 relative to the same period last year. The pickup also continues to attract new buyers to the Blue Oval, with half of Lightning customers being new to the brand.
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Keyword: Ford F-150 Lightning Discounts Begin This Month