Historically speaking, most automakers have long offered customers the option to purchase their leased vehicles at the end of those terms, which has proven to be rather attractive to some amid skyrocketing used vehicle prices over the past few years. However, this hasn’t been the case with a lot of EVs, including the Ford F-150 Lightning or Ford Mustang Mach-E, which feature different residual value calculations, while FoMoCo itself has kept those vehicles’ federal tax credits on leases for itself, too. However, with demand falling and inventory increasing, the Ford F-150 Lightning recently received a hefty price cut – and it’s also now eligible for a lease buyout, according to CarsDirect.
The lease buyout option for the Ford F-150 Lightning was quietly brought back on July 22nd, it seems. Ford eliminated this option roughly one year ago, a move that it said was made in an effort to improve sustainability and make EV batteries more affordable. Now, leases that took effect on the 22nd and later will in fact be eligible for a buyout option when the terms are up for the Ford F-150 Lighting, while the Mach-E and E-Transit regained this feature back on July 7th – information that was confirmed by Ford Credit’s Meredith Libbey.
However, since Ford still isn’t passing on the current $7,500 federal tax credit to F-150 Lightning lessees, that still makes it a bit less attractive than purchasing or financing a new EV pickup from the onset.
Now certainly seems like a pretty compelling time to buy an F-150 Lightning, however, given the recent price cuts on both new models and those that have been sitting on dealer lots, combined with the aforementioned tax credit and 1.9 percent APR financing deal, along with a pre-order discount of $1,000 that’s good through today, July 31st.