Ford Authority

2023 Ford F-150 Lightning Cheaper To Lease Than Gas Lineup

As Ford Authority reported just yesterday, a newly launched lease deal for the 2023 Ford F-150 Lightning slashed more than $400 off the monthly payments of the EV pickup, making it the very best such incentive we’ve seen yet. This move comes on the heels of another rather attractive lease offer, as well as a stair-step incentive aimed at enticing dealers to move leftover 2023 Ford F-150 Lightning inventory and make way for newer 2024 models. However, this new lease deal is perhaps even more attractive than initially thought.

2023 Ford F-150 Lightning XLT - Exterior 001 - Front Three Quarters

According to CarsDirect, the newest 2023 Ford F-150 Lightning lease deal makes it even cheaper than the ICE Ford F-150, even though the EV version has a higher MSRP. With an MSRP of $53,445, the 2023 Ford F-150 XLT can be leased at the moment for $578 for 36 months with $5,987 due at signing, which equates to an effective monthly cost of $744.

However, the equivalent EV version – a 2023 Ford F-150 Lightning XLT with an MSRP of $56,990 – can be leased right now for $338 over 36 months with $6,102 at signing, or $508 per month, which is a whopping $236 cheaperThis is particularly notable given the fact that the gas F-150 is priced at $3,545 less than its all-electric counterpart, which makes it a rather compelling deal, especially since Ford has essentially lowered its lease rate on that model to zero percent.

On top of all that, those that currently own a Tesla vehicle can also take advantage of a special conquest discount of $1,500 that can be stacked with other deals. As for the 2024 F-150 Lightning lineup, it received a round of price cuts nearly across the entire lineup, save for the Pro and Platinum trims, at least, so shoppers can find better deals on some newer models as well.

We’ll have more on the F-150 Lightning soon, so be sure and subscribe to Ford Authority for the latest Ford F-Series newsFord F-150 news, F-150 Lightning news, and non-stop 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. Bill Howland

    I suppose I don’t understand the benefit of a conquest sale…. Why give an extra $1,500 to someone just because they are trading in a Tesla? With used car prices still dropping, you would think the dealer would have to go to MANHEIM or some other auction house to get rid of the formerly pricey trade-in…. In any case I do not see why FORD benefits.

    But decisions like this are no doubt why they lose money on new sales.

  2. Jess T

    Leasing with a deal like this is the only way to go with an EV right now. If values keep dropping, I wouldn’t want to owe on a loan for a vehicle that lost all of it’s value – with a lease, that’s not your problem!

    1. Thanos

      EV values are only dropping relative to their inflated prices. Once the price of a new EV is the same as an ICE, you’ll have to worry more about the ICE depreciation.


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