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The Ford F-150 Lightning is the best-selling electric truck in America, and the Blue Oval wants to retain the top spot with some incredible lease deals for the battery-powered pickup. In fact, customers can lease a Lightning for less than an ICE-powered F-150, according to CarsDirect.

For example, the F-150 XLT can be leased over 36 months for $578 p/m, with an initial payment of $5,987. That’s for a V6 Supercrew with four-wheel drive and an annual mileage cap of 10,500 miles. That works out to around $744 a month, a lot of cash for a truck that retails for $53,445. So what about its electric alternative?

Cheaper To Lease Than A Regular F-150? Yes!

The 2023 Lightning XLT is available over the same lease period for $338 but requires $6,102 at signing. Despite this, it still works out at $508 p/m, which is $236 cheaper per monthly payment. Over three years, this works out to a saving of $8,496. Interestingly, the Lightning XLT has an MSRP of $56,990, which makes it even more expensive than the F-150 V6 XLT.

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Many of you may be scratching your heads at this point. How can a pricier electric truck end up being cheaper to lease? For a start, Ford has introduced some remarkable lease deals for the Lightning, with as much as $15,250 off selected trims via the RCL Customer Cash leasing rebate. During Ford’s Memorial Day sale, customers in California could also take advantage of the $1,500 trade-in assistance bonus (for the F-150 and its electric sibling).

Great Deals On MY2023, But The 2024 Lighting Is Very Expensive To Lease

However, there is a caveat. Don’t think you can waltz into your local Ford dealer and get the same deal on a 2024 Lightning. The publication reports that the 2024 Lightning XLT is double the price of the MY2023, which is absurd. Leasing one would require an initial payment of $7,416 and a monthly payment of $842 over 36 months. That equates to $1,048 p/m, which makes the outgoing 2023 models look like an absolute steal. At least the 2024 F-150 Lightning is cheaper than expected.

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Ford is looking for a way to clear the remaining 2023 inventory, and with these low prices, it may succeed. Anyone in the market for an electric truck will undoubtedly find these deals appealing. Whereas the gas-powered F-150 sells itself, Ford has struggled to shift the Lightning and has even had to cut production in response to slowed demand. It will be interesting to see whether these discounts tempt a traditional truck driver to eschew a V6 or V8 for silent electric propulsion.

Source: CarsDirect