it’s good the owners who already have them love them, because with their depreciation. It will be a shock to the owners if they try to sell it or trade it in on something else. The data I have seen last quarter seems to indicate Lightning’s lose 40-60% of their value i the first year depending on trim. Those who financed it are almost all underwater unless they put down over 30% down payment and making more than minimum payments.

My gas F250 lost 20% of its value(52k down to 42k) on trade in after two years and 12k miles, as I’m doing some research to see if I want to sell it since my work has changed and doesn’t require a 3/4 ton as much.

 

I love the internet.

 

@twobelugas,

You screwed up buying a gas F250. You should have bought a F-450. My 2022 F-450 King Ranch went up $4.1k in value from purchase price of $83.9k and sold it tho a wholesaler for $89k 2 months ago.

Contact https://texasautovalue.com/ for a cash quote.

My 2023 Lightning Lariat Extended Range was purchased for $61k after dealer discount, Rebate, tax credit and ECO. A 40-60% depreciation would bring the value down to $25k-36k. I'm sure it's worth more than that. Paid cash so I'm not upside down.

 

Looked at a MachE GT at $62k, Standard Mach E at $42k and didn't look at the Lightnings, but they had 16 on the lot.

 

Such is life. The reality is that all 4 can be true at the same time:

(1) F150 Lightnings are in fact experiencing severe over-inventory problem on dealer lots with lack of new buyers to buy new units.
(2) Owners who did buy one can absolutely be very satisfied since it suits their specific needs. But very few are going out and buying another one right now to alleviate (1)
(3) The resale value on F150 Ligntnings are in fact dismal, like many EVs are seeing. 2024 Lightnings that are being sold for >90k sticker price have trade in values in the upper 30s range when classified as "used" with less than 1000 miles across multiple car buying offer platforms(Carmax, Carvana, KBB Cash offers).

Now, the same can be said about Teslas, Hyundai EVs, Nissan EVs, what have you. It is not a situation unique to F150 Lightnings, but it does not make it any less the reality.

 

I ordered and got my STX CCLB F250 within 8 weeks in early 2022.

I highly doubt I would have the same luck with F450s, that's why you had great luck in turning int around because Ford is as good as churning out F450s as they are at cranking out Rangers. In any case an F450 would have been way overkill for me, and a 20% depreciation over 2 years is something I can live with. I bought it with cash so no interest payment to anyone either.

Thank you for the link, I will check it out! I haven't sold my truck yet, as I still use it off and on, but the business condition where I am is causing me to change my work scope so the sale is on the horizon, not yet though. I may decide to keep it after all, 42k is not going to affect my finances one way or another, I just might hold onto it and re-gear it with 4.88 to go with 37s and build it into my personal offroad truck.

 

My Local Ford Dealer is still slapping on 5k Market Adjustments on the 20 or so Lightnings on their lot. I don't think those puppies are going anywhere any time soon.

 

If you are interested in buying a Lightning the 2023 Lariats can be had for $30k UNDE MSRP. A member on another forum posted his signed contract.
MSRP - $79,785
Selling Price - $69965
Rebates - $13250
POS Tax credit - $7500

Selling price - $49215

 

That $20k for a GT is crazy...

 

They need the margin to offset the cost to make them. All the car makers especially domestic ones who came out with EVs completely dropped the ball and thought they can compete with Tesla with bloated models that will get brand loyal buyers chomping at the bits and willing to go upmarket. I think, nay, it is evident, that everyone at Ford GM and Stellantis didn't bother asking real people on the street if they are willing to pay Lexus TX or BMW X5 money for a Ford or GM EV.

 

Looks like Ford is pulling back on the reins again.

Headline: Ford drastically cuts workforce at F-150 Lightning EV plant amid ‘much slower’ demand

Link: https://electrek.co/2024/03/28/ford-...ning-ev-plant/

 

Not “again,” this is the same cut that was announced in January.

https://fortune.com/2024/01/19/ford-...k-weak-demand/

From that InsideEVs article:

That’s more than twice as many as they made last year.

 

Perhaps I read the Electrek article I linked differently than you. From that Electrek article...

So, the way I read it was that the F-150 Lightning workforce is being reduced by 2/3 and workers are being given an option to retire or move plants in lieu of being laid off. I say "good on Ford" for being loyal to their workforce and I commend them for working with the families and lives that depend on Ford.