Ford Lightning Gets First-Ever Discounts, 1.9% Financing

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Senior Pricing Analyst

As CarsDirect’s resident pricing expert, Alex offers must-know analyses of pricing & incentives to those looking to buy or lease a car. His consumer-oriented coverage of the latest trends and breaking news has been featured by The Wall Street Journal, Fox Business, Motor Trend, Automobile Magazine, and more.

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, Senior Pricing Analyst - July 11, 2023
Ford F-150 Lightning EV front view off-road

The Ford Lightning just got its first factory rebate since the truck's launch over a year ago. According to a bulletin sent to dealers, the 2023 F-150 Lightning features up to $1,500 in incentives in some parts of the country that buyers couldn't previously get. We're also seeing the best Ford F-150 Lightning financing deals to date.

Through October 2nd, Ford Credit is offering 1.9% financing for up to 36 months on all versions of the F-150 Lightning. Alternatively, there are 48 and 60-month options at 2.9% and 3.9%, respectively. If you're looking to lower your monthly payment even further, there are 72 and 84-month rates of 5.9% and 7.9% APR.

Ford F-150 Lightning EV rear view in snow

Based on our records, there were no such deals a month ago. Ford is also offering the first F-150 Lightning rebates we've ever seen. Through July 31st, the all-electric truck features $500 in Low APR Retail Customer Cash as well as up to $1,000 in Retail Trade Assist. That's $1,500 that can be stacked with low APR.

The downside is that Ford Lightning deals are regional and we aren't seeing the same discount everywhere. The best deals appear to be in Phoenix with $1,000 in Retail Trade Assist plus the $500 financing incentive. In California, there's $500 in Trade Assist for a combined total of $1,000. Offers elsewhere may vary.

Ford F-150 Lightning EV front view in snow

In addition to being regional deals, the offers may not apply to everyone. Low APR Retail Customer Cash is a rebate available when financing at a promotional rate. In other words, you'll need to finance through Ford Credit in order to get it. Retail Trade Assist is a bonus that you can only get when trading in a car or truck.

This could create a big advantage for buyers who are able to take advantage of the $7,500 federal tax credit. States like California offer additional incentives such as the $2,000 Clean Vehicle Rebate. With the new rebates, we're seeing nearly $12,000 in potential savings on the F-150 Lightning here in the Golden State.

Leasing an F-150 Lightning continues to be a bad deal. That's because Ford Credit has kept the tax credit on leases ever since the truck first went on sale. To put that into perspective, most manufacturers of EVs have been taking advantage of a loophole that enables them to lower prices by claiming a commercial credit.

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, Senior Pricing Analyst

As CarsDirect’s resident pricing expert, Alex offers must-know analyses of pricing & incentives to those looking to buy or lease a car. His consumer-oriented coverage of the latest trends and breaking news has been featured by The Wall Street Journal, Fox Business, Motor Trend, Automobile Magazine, and more.

Follow On: Twitter

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