Used Ford F-150 Lightning Prices Are Rapidly Decreasing
You might feel like it takes a miracle to get behind the wheel of a Ford F-150 Lightning model. This truck faces limited production and sold out in the blink of an eye. But you might have some luck finding a used Ford F-150 Lightning model as prices decline.
Why are used Ford F-150 Lightning prices dropping?
You might be able to get a used Ford F-150 Lightning model for a reasonable deal as prices continue to drop. According to Barrons, used F-150 Lightning prices have declined by 39% since June 2022.
The Lightning isn’t exactly in trouble yet. The prices are dropping from insanely jacked-up rates to slight markups. The price for a used model almost matches the cost of a brand-new option. However, going for a used model could help you skip the long waiting list.
The 2023 Lightning starts at $59,974, the Larirat increases the cost to $75,974, and the Platinum has a $98,074 MSRP.
If you browse for used 2022 F-150 Lightning models, you’ll find Lariat models listed for between $60,000 to about $78,000, based on your location. We even saw one 2023 Platinum model for $89,000 with only 1,007 miles.
Price could be on the decline as inventory increases, but Ford is only cranking out about 80,000 models per year. So, are people already dumping the Lightning? Also, it just came out in 2022, so there shouldn’t be many used models on the market.
What are some F-150 Lightning problems to consider?
You can save time and money with a used Ford F-150 Lightning model, but there are a few potential issues to learn about first. For example, the F-150 Lightning isn’t the best option for towing.
It can tow up to 10,000 lbs but drops range pretty quickly. People have lost tons or range at a rapid rate while pulling trailers between 5,000 to 6,000 lbs. We lost so much range on flat surfaces that we cut our towing test short.
Also, people aren’t getting the EPA-estimated 320 miles of range on a single charge. What they may not know is that the estimated range is provided at ideal temperatures and conservative driving conditions.
Plus, cold weather has been impacting the range. Cold temperatures can reduce the range and make it take longer to charge. But Ford did release a few helpful tips for winter.
The FordPass app doesn’t always work with set charging times overnight, and it can be difficult to find working charging stations. A DC fast charging station should replenish the charge from 15 to 80% in roughly 40 minutes. But how long does it take for a full charge?
Is the F-150 Lightning reliable?
It’s a little early to determine how reliable the Ford F-150 Lightning is. More models need to be put through the paces. But based on similar models in the lineup, the Lightning is expected to be less reliable than the average new vehicle.
The Lightning has had two recalls. One was for low tire pressure, and the other was related to 18 models with a battery issue that could catch fire. At least 18 is a pretty low number, right?
It’s unclear why used Ford F-150 Lightning models have declining prices. It’s an addicting and comfortable truck to drive that could update its charging tech. Maybe it’s not living up to high expectations.