Ford F-150 Lightning Lease Deals Are Ridiculous Right Now

The 2023 Ford F-150 Lightning is getting steep discounts that can range up to $15,000, while interest rates have dropped to nearly 0% on some models. The latest incentives apply only to leases for Ford's EV pickup rather than outright purchases, but CarsDirect claims this could be the best time to lease an F-150 Lightning, as these incentives amount to the electric truck's biggest discount to date.

The price cuts come from a number of programs but the biggest comes from Ford's Red Carpet Lease Customer Cash, which offers lease rebates of up to $15,250 for Lightning buyers in at least 10 regions across the country. It's unclear if the price cut is the result of incentive stacking with deals coming up for Memorial Day sales, but CarsDirect goes on to say discounts vary by trim, with Platinum grades seeing the biggest bump going from $7,500 to $15,520 off MSRP.

Even though that is a major price cut, keep in mind that the price of an F-150 Lightning Platinum starts at $94,635 including destination and fees, meaning these new discounts lower the price to $79,385 for customers looking to lease for 36 months with an annual cap of 10,500 miles.

Lower Lightning trims still get generous discounts, though none as significant as that of the Platinum. The Lariat follows with a discount of up to $9,750 when oping for the Standard Range, which is up from the previous discount of $5,000. And, finally, the Lightning XLT gets up to $7,000 off on Extended Range models; previously, the discount only went up to $1,500.

The new rebates are dependent on location, however, and prospective buyers should input their zip code into Ford's inventory tool to check what they qualify for. Major cities that get the sweetest deals include Atlanta, Chicago, Dallas, Houston, New York, and San Francisco.

And not all buyers will get the same finance terms, but lucky ones in South California can get the Lariat 36-month lease for 0.09% financing down from 5.68% previously. That effectively brings 0% financing to certain models, adding more incentive to those considering leasing Ford's electric full-size pickup.

Got a tip? Email us at tips@thedrive.com