With the release of the Ford Lightning, one of the biggest questions was “what is the price”. Luckily we now know that information and it allows us to take a deeper dive into the truck. The Ford F150 Lightning is a long-awaited electric truck with orders expected to roll out around 2022.
Ford has already had a tremendous amount of orders for the truck but like most car manufacturers, they are struggling to produce high volumes of the cars. Ford still has gone to work and thinks they should be able to double their initial production capacity by the year 2024 so they can keep up with orders.
In general, what is the Ford Lightning price? Buying the base model Ford F150 Lightning Pro is estimated to cost around $41,669 after adding a destination charge, but it costs more after accessories. Putting in a charger will cost around $1,500. A full charge will cost around $13.91, so around $200 monthly. Maintenance should cost an average of around $77 a year for electrical vehicles.
The price of a Ford Lightning is not at all nice to your wallet, but it does meet the average price of new vehicles at this time. With the average purchase price of a new non-luxury vehicle being around $45,000, the Ford Lightning is not too far off from this mark. The Ford Lightning is more expensive than its equivalent gasoline F150 model by a little less than $10,000, which is not a small amount of money. However, Ford has worked in a lot of advanced features that allow the truck to perform many more tasks than the gasoline F150 would be able to handle.
What Is The Price For All The Trim Levels?
Depending on where you live and if you buy directly from the company or through a dealership, there can be some differences in your price. We will look at the pricing Ford has released on its website and what is currently posted, specifically their posted base MSRP. There are also different choices you can make if you choose to build your Lightning through Ford’s website that can increase the price.
- Pro- $39,974
- XLT- $52,974
- XLT Extended Range- $72,474
- Lariat- $67,474
- Lariat- Extended Range- $77,474
- Platinum- $90,874
These prices are for cash offers, meaning if you finance the vehicle or lease it, then you will probably be paying different amounts of money. Adding things like different truck bed accessories, a safe in the vehicle, 360-degree cameras, different towing technologies, and many more different accessories will increase the price of the Ford Lightning if you order one.
How much money you spend on the Lightning will probably be more than these listed prices. Different fees may bring your cost up by another one or two thousand dollars as well. There may also be taxes on the vehicle depending on where you live, however, some states will actually give you incentives for buying an electric vehicle. So generally, taxes are not as high as they would be for a gasoline or diesel vehicle.
Price Breakdown Of Factory/Dealer Add-ons
If you go to Ford’s website you can click on build & price which will allow you to choose a trim level and then choose from a variety of add-ons to the truck. There is a huge variety of add-ons that are available and we will only be talking about some of the largest add-ons and packages available, but if you want to see the full list for each truck you can find this information on their website.
Depending on what trim level you get, you may already have some of the add-ons that had to be purchased for the cheaper trim levels of the truck. With some add-ons being less than $50 and others being way above $2,000, Ford truly does give you a customizable feeling.
One of the most important and popular add-ons would be the extended-range battery. The extended-range battery brings the normal 230-mile range up to 300 miles and increases the price of the XLT by about $20,000, the price of the Lariat by about $10,000, and comes stock on the Premium. Another popular add-on is the tow technology package which includes pro trailer backup assist, trailer brake connector, smart hitch, on-board scales, smart trailer tow connection, trailer reverse guidance, pro hitch assist, LED side mirror spotlights, and the 360-degree camera.
This package cost $1,395 to add to the Pro, XLT, or Lariat, and it does come stock on the Premium. The max trailer pro package is similar to this package but it does include a bit more technology that makes hauling and backing up a trailer much easier for the price of $859 and has the same availability as the tow technology package.
What Is The Cost Of Ownership?
Owning an electric car is actually not quite as expensive as most people think, it just may cost a higher initial investment than a gasoline or diesel vehicle. Both maintenance and cost per mile are cheaper when it comes to electric cars when compared to internal combustion vehicles.
In the US, the cost per mile is about 3 cents while gas is about 6 cents, which is double the cost when it comes to paying for the range of the vehicle. Electric cars are generally more expensive at first, in fact, the Ford Lightning is about $10,000 more expensive than a new Ford F150. You will also have to invest another $1,500 into a wall charger if you plan to daily drive the Ford Lightning. But they will eventually pay themselves off.
- Taxes, registration fees, dealer fees, etc
If you order a Ford Lightning there is a destination charge of about $1,695 to drop off the Lightning at the closest Ford dealership. Other fees and taxes will depend a lot on where you live and what rules are in place that relates to these fees and taxes. Some places do have benefits for buying an electric vehicle and it may decrease the amount of taxes or fees you pay.
The federal government even has a way that you may be able to earn up to $7,500 when you buy an electric vehicle, depending on where you live. If where you live does not have these benefits then generally the taxes and fees will be nearly the exact same as what is common in your area. Compare.com has a handy chart that allows you to see what kind of fees and taxes may be common in your area when it comes to buying a vehicle.
- Monthly cost to charge
Many different factors will affect how much you are spending each month on charging. A good way to calculate how much it may cost you is finding 32% of your current electrical bill (this will be about how much it may cost to charge a Ford Lightning but it is only an estimate). You most likely will not be charging it fully every single day, since a full charge costs around $13.91, a good estimate that charging a Ford Lightning will be about $250 a month. This price may vary dramatically however based on the price of electricity in your area.
- Maintenance costs
Maintenance costs nearly go out the window when it comes to maintaining the Ford Lightning. Reports show that only around $77 dollars a year are spent on the maintenance of an electric vehicle. Generally, the only maintenance that a person has to do on an electric car is the windshield wiper fluid. Everything else that needs to be worked on will generally need a technician to fix but thankfully these parts don’t go out super often as they are sometimes more expensive to fix.
What Are The Depreciation Rates Over Time?
Sadly, electric vehicles have been shown to depreciate at a much higher rate than other vehicles tend to. Electric vehicles will depreciate at around 52% in three years while other vehicles will only depreciate at around 36% in the same time span. This is largely because of the higher demand for internal combustion vehicles while the demand for used electric vehicles stays generally low. Because electric vehicles are still less popular, they tend to depreciate at a much faster rate than other vehicles.
There is hope, however, as most of this depreciation is in part a lack of demand, if this demand was to increase then the depreciation percentage would decrease as well. As we know, the Ford Lightning looks to be a very popular upcoming electric vehicle. We also know that they depreciate slower than other vehicles, beating them by about 5% in three years. Because of these reasons, the Ford Lightning may not decrease in value as quickly as other electric vehicles. There is just a small chance of this happening and some reasons why it may not decrease as quickly, but it is not a definite fact.