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2023 Ford Lightning Lease Price Cut By Over $400/mo

If you've been on the fence about leasing a Ford Lightning EV, now may be the time to get in on the action. Today, CarsDirect confirmed that some 2023 Ford Lightning lease prices were cut by over $400 per month for Memorial Day. We also found a hidden way to get the best price ever on a Ford Lightning lease.

As we reported Thursday, 2023 Ford Lightning leases became eligible for up to a $15,000 incentive and rates equivalent to 0% APR. What we didn't know was just how much lease prices went down. Our suspicions were confirmed today that some Ford Lightning leases are over $400 — per month — cheaper than before.

Early yesterday, the 2023 Ford Lightning Platinum was listed at $995 for 48 months with $10,394 due at signing (see directly below). However, once Thursday's changes fully updated on Ford.com (screenshot further below), it went to $584 for 36 months with $10,048 at signing. That's a difference of $411 a month.

2023 Ford Lightning Platinum lease deal from Ford.com

We thought it was a website error. It wasn't. A Ford Credit spokesperson confirmed for us today that the price cut is real.

Having said that, the 48-month deal had an effective cost of $1,212 a month. With the 36-month offer, it's $863. That's still a difference of $349 per month, making the most expensive Ford Lightning a way better deal than before. If you're looking to spend less money, the XLT may represent the best value this weekend.

In base form, Ford's estimate for the Lightning XLT Standard Range is now just $397 for 36 months with $6,096 at signing. That's based on an MSRP of $56,990 including destination. However, upgrading to the XLT Extended Range can get you access to a $7,000 incentive that you can't get with the base model truck.

2023 Ford F-150 Lightning Platinum lease after price cut for memorial day

Here, Ford says you can lease the $70,000 truck for $457 with $7,771 at signing. Additionally, Ford began offering $1,500 in Trade-In Assistance Bonus Cash today in California. This could push discounts on the Platinum grade as high as $16,750. On the XLT ER, expect a discount of $8,500 plus an ultra-low lease rate.

But that's not all. Ford is still offering a $1,500 bonus for Tesla owners, and the fine print in the incentive bulletins shows no indications that you can't stack the deals together. On the range-topping Lightning trim, this could push discounts to $18,250 off MSRP, though we recommend checking with your dealer just to be sure.

These are by far the best deals we've ever seen for leasing the Ford Lightning. And that's before additional dealer discounts. Since dealer prices will vary, we recommend shopping around to get the best deal possible. Ford's Trade-In Assistance deal is set to end on May 28th, making this a truly limited-time offer.

Sources: Ford, Ford Credit

Explore Ford Lightning Incentives

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      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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