2023 Ford F-150 Lightning Lease Is More Affordable Than Gas Counterpart

Ford’s popular F-150 Lightning model has been a fan-favorite in the electric vehicle market in the United States (U.S.), and now it has become more than $200 more affordable to lease per month compared to its gas-powered counterpart.

Despite possessing a higher initial price point, recent incentives have been sent out for Memorial Day weekend, slashing the leasing costs of the 2023 Ford F-150 Lightning model according to CarsDirect. As a result, the leasing rates for the F-150 Lightning are now priced at $338 per month for 36 months, with $6,102 due at signing, compared to $578 per month for the gas-powered F-150.

The lease rates resulting in a noticeable difference can be attributed to several factors. It started with Ford inserting discounts to its remaining 2023 Lightning inventory and introducing subsidized lease rates equivalent to 0%. Importantly, EVs commonly retain higher residual values compared to gas vehicles, resulting in lower total lease amounts for EVs.

In addition, Tesla owners can also capitalize on a special conquest discount of $1,500, further elevating the cost-effectiveness of leasing the F-150 Lightning. These efforts reflect Ford’s aim to bolster its EV lineup as the company recently announced price cuts for the 2024 F-150 Lightning lineup.

Despite Ford experiencing challenges in the market with responses to drive down EV production costs, the company is still headstrong in thriving in the EV market with more affordable EVs. With significant cost savings and environmental benefits, the F-150 Lightning represents a paradigm shift in the automotive industry. Ford’s incentives will last in most regions through July 8th.

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