Ford F-150 Lightning Electric Truck Buyers Report Massive $30,000 Markups From Dealerships
It seems that buyers can’t purchase a new car without paying an extra fee due to its popularity these days. The most recent addition to this fiasco is the Ford F-150 Lightning electric truck. One dealership is trying to add $30,000 to the MSRP to be one of the first with the Ford electric truck. Is it worth it?
The Ford F-150 Lightning electric truck has a lot of reservations
Ford announced not too long ago that it had about three years or 200,000 reservations on file for the new Ford F-150 Lightning electric truck. Those are potential buyers who placed a deposit that would allow a real order to be placed later. Of course, that is easier said than done. Ford has been the recipient of bad press around similar issues. The Ford Bronco was one of the main culprits that had buyers paying an extra $10,000 to $25,000 to take delivery of the popular new SUV.
But now it seems buyers waiting to take delivery of the Ford F-150 Lightning are facing a similar issue, Electrek reports. Some buyers reported that the dealership would add a $30,000 markup to the truck due to the overwhelming popularity. This price adjustment doesn’t come from Ford itself but from individual dealerships that set the price. If a buyer doesn’t want to pay the markup, the dealership will simply move down the list to find someone willing to pay.
Want to be first in line for the Ford F-150 Lightning?
One Ford dealership in Virginia has offered buyers a perk! If you would like to be one of the first 25 orders for the brand new Ford F-150 Lightning, there will be a $30,000 markup added to the order. All other orders will have a “$10,000 market adjustment to the MSRP.” The external email also states the dealership will not be honoring any plan pricing at the time.
The dealership says, “the additional deposit required is $5,000 and will go towards the purchase of your vehicle.” If that wasn’t bad enough, the email states that the deposit will be forfeited should buyers not move forward. According to reports from other buyers, the $10,000 “market adjustment” is popping up around the country. While this dealership might be the first, it won’t be the last.
Not all dealerships are participating in this game, either. Some have committed to sticking at the MSRP price that was initially quoted. It seems that some dealerships are just trying to take advantage of the long line for a Ford F-150 Lightning.
How can these “market adjustments” be avoided?
Many would suggest not paying the additional fee depending on who you ask. However, dealerships will simply move down the line to someone willing to pay whatever to have the desired vehicle. The market adjustment problem seems to be running amuck at Ford dealerships, specifically though. The Ford Bronco, Bronco Sport, and Ford Mustang Mach-E electric vehicle have all been subject to such markups.
Since these vehicles are brand new and have a lot of demand, buyers are willing to pay a little extra to be first in line. But if no one agrees to pay extra, the trend might die out. For now, it seems Ford has the upper hand on this one. If you want to be the first in the F-150 Lightning electric truck, be ready to pay up.
If you have a reservation for an upcoming release and are being subject to a markup, you can check the EV Dealer Markup Tracker google document. This document is helping keep track of the various dealerships adding additional market adjustments on top of the MSRP. Some potential buyers have reported moving to Tesla due to the direct-to-consumer sales style. For now, be on the lookout if you have a reservation on file for one of these popular new vehicles.