Ford Authority

Over One Third Of Ford F-150 Owners Have $1,000+ Monthly Bill

After dominating the U.S. sales charts for decades now, the Ford F-150 also dominates our roadways, with around 16 million Ford F-Series trucks in total still in operation in all parts of the country. While the Ford F-150 routinely ranks near the top in terms of owner satisfaction scores, like many other new vehicles these days, it’s becoming increasing expensive to obtain. As such, the pickup has become a more popular vehicle to lease – which typically results in a lower monthly payment – as well as one that many customers are opting to finance for as long as 84 months to get those payments down. Regardless, a large percentage of owners are still paying more than $1,000 per month for that privilege, according to new data from Edmunds.

In fact, the Ford F-150 currently tops the list in terms of total market share of all vehicles financed with a monthly payment of $1,000 or more at 5.6 percent, while more than a third of owners – 36 percent – are paying four-plus figures each month to finance their pickups. That’s an alarming statistic indeed, but perhaps not entirely surprising given the fact that prices – and interest rates – have risen to the point where it’s getting harder to secure a payment of less than $1,000, at least not without first applying a large downpayment. Adding fuel to the proverbial fire is the fact that lease incentives are more difficult to come by these days, too.

Overall, a grand total of 14.3 percent of new vehicle owners are paying at or more than $1,000 per month, which is the highest on record and a considerable increase over 12.2 percent in Q2 of 2022 and 8.3 percent in Q3 of 2021. However, it’s truck owners in general that pay the most, with the Ram 1500 and Chevrolet Silverado joining the F-150 in the top ten.

“Despite worrisome macroeconomic conditions, Americans are spending more money than ever on new vehicle purchases,” said Jessica Caldwell, Edmunds’ executive director of insights. “Ongoing inventory shortages are partly to blame, but this trend is also a reflection of consumer preferences. In the past decade, we’ve seen Americans embrace a bigger-is-better mindset by gravitating toward larger vehicles with more creature comforts, technology-heavy features and, more recently, electrified powertrains – but that all comes with added cost. Rising interest rates combined with higher prices has sent monthly payments soaring to new heights.”

We’ll have more insights like this to share soon, so be sure and subscribe to Ford Authority for the latest Ford F-Series newsFord F-150 news, and ongoing Ford news coverage.

Brett's lost track of all the Fords he's owned over the years and how much he's spent modifying them, but his current money pits include an S550 Mustang and 13th gen F-150.

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  1. Joe

    I have a $166.00 per month, for 48 months on my 2022 Maverick at .9%. People just live over their heads.

    1. Naranjita

      I bought a ’22 Maverick too. I pay $305 per month, but for a loaded Lariat trim. Everything I ever want and need and an extra $700 in my pocket per month over a well equipped F150.

    2. joe

      your financing less than $8000
      lots of missing info… or purchase?
      trade in?
      down payment?
      just sayin’

  2. Robert.Walter

    1k$/mo? Seriously?

    That hardly seems recession proof.

    I wonder how FMCC handles risk of such a large segment customers possibly defaulting.

  3. Jeff

    Buy an older truck 2010 in a year or maybe two. You’ll save lots of money and have a great truck you can say you own for the next 10 to 15 years.

  4. Veodies

    I own a 2010 F150 that I paid off in March which I financed for 4 years. With the current cost of new vehicles, I feel $1000 a month would be best spent buying a home. I can buy a new engine, tranny, rear differential, transfer case, have it installed, and pocket the next 2 – 7 years worth of payments, and still have a new truck to drive while I do it. Can’t see spending all that on a car or truck. A class A rv maybe.

    1. TransportationnotSpectacle

      Been there done that. Class A rv is a huge money pit It’s like a boat. Happiest 2 days owning it are the day you buy it and the day you sell it.

  5. Mike says..

    Seriously though, rising shelter, food and services costs means the ‘Wall’ is coming up fast in the mirror. If Ford wants to ignore this peril, so be it. The household economics are getting badly upside down with respect to new vehicle ownership. Ford has no entry level pricing and please do not say ‘Maverick’…. it will not save the day. I fear this is all going to be very messy for the automotive industry in general… I do agree once the dust settles there will be winners and losers… get ready for that consolidation and even more dependance on offshore supply and build for domestic producers.

    1. Midwestern Joe

      Nailed it!!!! There will be a reckoning.

      1. Patrick Ford

        We’re at the reckoning. Nobody sees it. Nobody wants to see it.

        1. G

          Next we will be converting them for urban warfare…

  6. Bob

    Waiting to buy until late next year seems like a great idea. There will a lot of repossessions by then after the layoffs from the market crash.

    1. Midwestern Joe

      Hmmm…..good idea actually.

    2. George

      My thoughts as well. Wait to purchase previous year vehicles. Price will definitely go down. If not, I walk away and enjoy my Ford that I have now.

  7. Jordan

    I do not know how people can justify $1000/ month on a longterm note for just one vehicle. I always buy late model used, and keep myself and the wife in nice cars for a good bit under $1000/month for both vehicles. I do not know how Ford is going to survive with this high-dollar portfolio, they created, throughout this recession…oh yeah, they will take my tax dollars.

    1. Midwestern Joe


    2. FocusSTrox!

      Just want to point out, last go round of bailouts Ford was the one that did NOT take any handouts.

  8. Midwestern Joe

    That is INSANE!!!!! How can this trend be sustainable??? Hell, my first house that I purchased in 1996 was only $55,000!!! How can a “normal Joe” as myself EVER afford a F-150???!!! I hope the whole U.S. automotive industry implodes!!! Greedy jerks!!!

    1. Patrick Ford

      Trust me. That’s the last thing you want. Car companies are like any other company. They charge what the market will bear.

  9. Draugole

    Wow I’m glad I bought my 2019 Ford Ranger XLT right when the pandemic started they couldn’t give these things away keeping it till the wheels fall off 😆

  10. Larry

    I just bought a 2019 ford f-150 XLT and my payment is less than a 1,000 a month

    1. Chupacabra

      I’d hope your payments on a 4 year old XLT are less than $1,000 a month!

      1. Sammy Hayo

        😮‍💨 F150 2018 switch to a 2021 got me a new rate at 1.99% and same payment plan, restart for 72mths. A 2024 will be in the ups of 7.99% and 1110$ bi weekly 😮🫤🥱

  11. Henry the 8\'th

    I drive a Ford too. A 2006 Ford five hundred limited that I bought new in 06. It has around 155,000 miles, has been a really good vehicle. I will drive it until it falls apart.

  12. Torrin

    Picked up a 1990 F250 last year for $1500 and it’s been my daily here in Wisconsin since. Keep the miles of the 2014 SuperCrew Family Hauler and the 1979 F250 cruiser…

    Even with ~`13MPG…the block heater and standard cab is all I need Mon-Fri. About $215/mnth in fuel versus beating on my 2014 to jump into a car payment for the first time in several years. No thanks. Get the house paid off first and then (maybe) grab a new FSeries…

    Just my $0.02

  13. Eric

    Take 30% off the Maroney lable (sticker price) and you’ve got the dealer cost, minus any volume promotions from the manufacturer.

  14. Darren Dainard

    Saved up and paid cash on a 18 supercrew sporf

  15. Steve Sutter

    In 2019 I traded a 2010 f150 with 50,000 miles for a new xlt loaded. I paid cash, and walked away with no payments. That’s the last Ford I will ever buy.
    I will look at electric vehicles for my next ride. All of which will be cheaper than a Ford.

  16. john

    I’ve got a 2010 xlt and one big problem is the light in the box has no gasket or seal so when it rains hard water gets in ford did nothing to fix the problem ended up putting silicone around the light rust problem on the rockers bigtime

  17. Sammy Hayo

    Avg salary: 50-80k
    Avg f150 : 70-100k
    Avg oil change 120$
    Avg house: 750k – 1.2M
    Avg steak: 17$
    Avg watermelon: 14$ ????? Yeah
    Summer camp / week / kid 280$ !!!!


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