Average Ford F-150 Monthly Payment Well Above $900 For Q3 2024

With new vehicle pricing and interest rates soaring in recent years, it comes as no surprise that the average monthly payment of those same new vehicles has also risen to new heights as well. Ford F-150 customers, specifically, have seen their average monthly finance payment rise to jaw-dropping levels as of late, more so than many other models, a trend driven by the aforementioned factors and the simple fact that the F-150 continues to move upmarket, too, with the addition of more luxuries and fancy trim levels. That means that in Q3 2024, the average Ford F-150 monthly payment remained quite elevated, too.

According to Experian’s Q3 2024 State of the Automotive Finance Market report, the average Ford F-150 monthly finance payment in the third quarter of the year came in at $953, compared to an average lease payment of $597 – the highest figure of any of the top 10 leased models over that time period. The next closest vehicle was the F-150’s direct competitor – the Chevy Silverado 1500 – which had an average loan payment of $869, and from there, the gap is quite large, with the third-place Jeep Grand Cherokee posting an average monthly payment figure of $759.

Given this information, perhaps it comes as no surprise to see the Ford F-150 rank fourth among all new vehicles in terms of lease percentage, as it accounted for 1.83 percent of that market in Q3, behind only the Honda CR-V, Tesla Model 3, and Honda Civic. However, the F-150’s elevated monthly payments are certainly nothing new, and in fact, exceeded the $1,000 mark for a long period of time before declining somewhat earlier this year.

As Ford Authority previously reported, the average new Ford F-150 monthly loan payment in Q1 2024 was $881, while the average lease payment was $598, at that time, marking its third straight month of declines. In Q2, it rose to $919, however, which was once again the highest of all top leased models during that timeframe – quite a bit higher than the average lease payment of $601 as well.