Save Big on Ford F-150 Lightning with New Discounts and Incentives

Ford is offering up to $15,250 in discounts on the 2023 F-150 Lightning.

If you’re considering buying a new Ford F-150 Lightning, now is an excellent time as Ford is offering attractive discounts and incentives for its electric pickup. According to CarsDirect, the 2023 Lightning is available with up to $15,250 in discounts through the RCL Customer Cash leasing rebate. If you’re waiting for the 2024 model, it’s priced lower than expected.

The most significant discounts are on the Platinum grade, with savings of $15,250, up from the previous $7,500 rebate. Lariat Standard Range models now have a $9,750 discount, while the Lariat Extended Range gets $9,250 off, both previously set at $5,000. Although the XLT model is less expensive, it offers a $1,500 incentive. However, there are additional ways to maximize savings.

For example, an XLT with the Extended Range battery pack is eligible for a $7,000 discount, and models with the Equipment Group 311A receive $4,250 off. These deals are available only for lease customers in ten cities: Los Angeles, New York, San Francisco, Houston, Dallas, Chicago, Atlanta, Cincinnati, Memphis, and Pittsburgh. California-based customers benefit from reduced leasing rates, with the three-year rate dropping from 5.68% to 0.09%.

There are further savings available for Tesla drivers, who can receive a $1,500 incentive to switch from a Model Y to a Lightning. Additionally, a $1,500 Trade-Assist Cash incentive is expected to be introduced before Memorial Day. Despite leading electric truck sales, demand for the F-150 Lightning has declined, leading Ford to cut two production shifts at the Rouge Electric Vehicle Center in Dearborn, Michigan.

These offers are specifically for the 2023 F-150 Lightning, suggesting Ford is clearing out inventory to make room for the 2024 models, including the new Flash trim. Even the 2024 Lightnings have received price reductions, with the Flash now retailing for $67,995, $5,500 less than initially expected.

Leasing options for the 2024 F-150 Lightning are less favorable. The entry-level XLT costs $789 per month over 48 months, with a 10,500-mile cap and $7,298 due at signing. However, the F-150 Lightning is eligible for a $7,500 tax credit, and more appealing lease deals might be introduced as other automakers launch competitive EV leasing offers.