A fully loaded Ford F-150 Lightning has an MSRP of just over $90,000 and can potentially cost upwards of $4,000/month in some scenarios. However, there are also financing options that can cost less than half that amount. Here’s an overview of what you can expect to pay on a charged F-150 Lightning and how you can get the best deal.
The top-of-the-line 2022 F-150 Lightning Platinum has a list price of $92,569 including destination. According to a dealer incentive bulletin, the F-150 Lightning has no APR offers at this time and Ford Credit only offers standard rates. Based on the company’s online payment estimator, this implies a rate of 5% APR.
On a 72-month loan with no down payment, the F-150 Lightning Platinum has an estimated payment of $1,491/month. The shortest loan advertised online is a 24-month financing at $4,062/month. Both of these numbers don’t include taxes and fees, or big incentives like the federal electric vehicle tax credit and state plug-in rebates.
With a 10% down payment ($9,257), the F-150 Lightning Platinum has a 72-month payment of $1,342/month. With 20% down payment ($18,514), the payment is $1,193. A potential dealer mark-up could skew these estimates, and your actual interest rate will be determined by your credit score and possibly other factors as well.
Interest charges with a 5% interest rate can be very expensive. For example, a 72-month loan on an F-150 Lightning Platinum at MSRP would cost $107,339 and incur $14,770 in interest. If you happen to have bad credit, you might be looking at a higher interest rate and having to meet subprime loan requirements.
We expect the F-150 Lightning to command a significant premium over other trucks. For those who qualify, the Lightning offers discounts on Ford plan pricing, but is excluded from Friends & Neighbors pricing. The calculation of the truck’s invoice price is very unusual, and dealers are not allowed to advertise the Lightning below the MSRP.
Like the Mach-E, the F-150 Lightning will offer a lease-style alternative called the Ford Options Plan. This might be the most affordable way to get your hands on the F-150 Lightning. After all, Ford Credit doesn’t pass on the $7,500 tax credit to lessees as a lease on the Mach-E, nor should it on the Lightning.
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