Back in the first quarter of the year, the average Ford F-150 monthly lease payment came in at $634, which was $352 or 36 percent lower than the average monthly finance payment of $986 at that time. Now, the Q2 2023 Experian State of the Automotive Finance Market Report has been released, it reveals that quite a few things changed in the second quarter of the year, with the average Ford F-150 finance payment dropping a few dollars to $983 per month, while FoMoCo retained its title as one of the top leased brands on the market. At the same time, it seems as if the average Ford F-150 monthly lease payment dropped somewhat quarter over quarter, too.
As the Ford F-150 once again finished the quarter as the most-leased model on the market – accounting for 2.52 percent of all new vehicle leases in Q2 – the average lease payment customers shelled out for the popular pickup dropped to $601 – a decline of $33 per month, or a little over five percent.
As the vast majority of Blue Oval customers continue to opt to finance their next vehicle acquisition rather than lease, the amount of money customers dish out for that privilege also continues to grow – reaching $601 per month for lessees in the second quarter, but a whopping $983 per month for those that took out a loan. Back in the third-quarter of 2022, that same figure came in at $893 per month, though in the first quarter of this year, increased to $986.
However, as Ford Authority reported last October, 36 percent of F-150 owners were paying more than $1,000 per month at that time, which is significantly higher than the 14.3 percent of the total new vehicle market. As a whole, 25 percent of Ford owners, on average, had monthly payments of more than $1,000 as of last October, too.