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2023 Ford Lightning Gets 0% APR For 72 Months

Ford Lightning EV red color front view

For the first time, Ford is offering interest-free financing for 6 years on the F-150 Lightning. According to a Ford spokesperson, the new national promo just went into effect, offering EV shoppers an impressive price cut on remaining inventory. Our analysis shows this may be the best-ever deal for 2023 Ford Lightning buyers.

Earlier today, all 2023 Ford Lightning trucks became eligible for 0% APR for 72 months. Previously, the rate was 1.9%. On a $70,000 truck, we estimate that this may translate to a $4,100 price cut for those looking to finance. Despite being on sale for over 2 years, Ford only introduced 0% APR on the Lightning in May.

Ford Lightning EV silver color side view off-road

Per Ford spokesperson Marty Günsberg, Platinum trims are also eligible for $7,500 in stackable Retail Bonus Cash. If you're looking to buy one, this could make the 2023 Lightning an outstanding deal. Despite being well over halfway into 2024, inventory data shows that roughly 50% of in-stock Lightnings are 2023 models.

To sweeten the deal, Ford is offering deferred payments for 90 days. To put that into perspective, the all-new Chevy Silverado EV launched with no rebates and dealer incentive bulletins indicate GM's best interest rate is 6.99% for 72 months. Additionally, Tesla Cybertrucks remain ineligible for promotional financing deals.

Lightning deals have improved quickly over the past few months. In May, the F-150 Lightning became cheaper to lease than the Mustang Mach-E despite a $15,000 difference in MSRP. In some cases, lease payments fell by $400 a month. Around the same time, Lightning EVs became cheaper to lease than the gas F-150.

Ford's apparent inventory glut and the latest deals could make it a good time to buy a 2023 Lightning. Having said that, Günsberg added that 2024 Lightning EVs are now eligible for 0% APR for 60 months. Previously, interest-free loans on the 2024 model were limited to 36 months, marking a major change after July 4th.

Shoppers should be aware that both Lightning model years remain eligible for a $7,500 federal tax credit subject to income limits and an $80,000 price cap. Since the tax credit can be taken as an upfront discount at dealers, Ford may have finally introduced a deal that shoppers can't refuse on its flagship electric truck.

Offers end on September 30th.

Source: Ford

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Author profile
Alex Bernstein Senior Pricing Analyst

Alex has been writing about car buying and leasing for over a decade. Originally from San Francisco, Alex has a degree in History from the University of California, Santa Barbara, and has been a lifelong lover of cars. Alex’s work has been featured in publications such as Forbes, The Wall Street Journal, Motor Trend, and more.

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