The electric vehicle market is in a strange place right now. With federal tax credits gone, some automakers are marching ahead, while others are shifting their strategy. Ford has decided to discontinue the all-electric F-150 Lightning and replace it with a model that combines an EV power source with a gas range extender. While Ford could no longer make a business case for a new Lightning, buyers should know that used units are a fantastic deal.
The Lighting was (and still is) a great truck on paper. However, the starting price and shorter towing range have turned off many buyers. For the vast majority of truck buyers who just need a local daily driver with some ability to do “truck stuff,” the Lightning was an excellent choice. You can even use it to power your home during a power outage. When the tax breaks were in effect, buyers could score Lightings with super-cheap leases. With many of these trucks making their way into the used fleet, buyers can get the best used truck bargain on the market.
Much more bang for your buck than a base F-150
To put things in perspective, if you price a gasoline-powered, two-door base model F-150 XL with two-wheel drive, a V8 engine, and no extra options, you’re looking at a truck that retails for about $42,000 before incentives. This is a very basic piece of equipment, and not one you would normally find on most dealer lots.
Ford.comAccording to Autotrader.com there are more than 600 used F-150 Lightnings for sale nationwide and about 216 of those units sell for less than $42,000. While some of these trucks have a few miles on them, you can find some with fair use and great value.
Here’s a 2023 Ford Certified Lightning XLT with 27,000 miles for $36,403.
Autotrader.comThe original MSRP for this truck was approximately $58,000. You can keep over $20,000 in your pocket and save money on fuel, and get many more features compared to that base model XL.
The higher the trim, the better the deal
Of course, using a base-spec F-150 gas isn’t the best price benchmark, as almost no one would buy such a basic truck. A more realistic comparison would be a “mid-range” XLT, 4×4 with a 3.5 EcoBoost and some common packages. Even that “modest” truck with common features will cost you almost $60,000. Boost the used truck budget to $50,000, and you can score a fully loaded Lightning Platinum. Here’s a 2023 example with 31,000 miles for just under $49,000.
Autotrader.comThe original MSRP for this rig is an incredible $97,529.”
That’s a savings of almost $50,000, and there aren’t many options in the gas truck market to score a three-year-old model with plenty of warranty left and virtually half the price. I should note that when shopping for these used Lightnings, keep in mind that some of the inventory on the cheaper end of the market is often manufacturer buybacks or “Lemon Law” vehicles. While the savings may be tempting, they may not be worth the risk. However, with some careful digging and a willingness to shop outside your market, you can get more truck than you need for less than you expect.
Tom McParland is a contributing writer for Jalopnik and runs AutomatchConsulting.com. He takes the hassle out of buying or leasing a car. Do you have a question about buying a car? Send it to Tom@AutomatchConsulting.com
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