2022 Loan to truck value not great.

[Txxthie]

Spend more time reading through this forum to find out a number of people who knew nothing of trucks and less about EV’s jumped blindly on the Lightning wagon and got burned. At least they were smart enough to jump off But paid a price. Result is used trucks at a discount.

The Lightning is my 1st pickup but my 7th EV since 2017. To an EV enthusiast Ford significantly underpriced the Lightning. (especially Pro and XLT models). My Pro with $2500 in options nearly cost as much as my 2017 Chevy Bolt did in 2018.

I think existing ICE truck owners purchasing the Lightning as their 1st EV, might have miscalculated its capabilities (range, towing, etc.) and paid more due to availability (Lariat, dealer mark ups).

Sponsored

 

[Txxthie]

Do people buy lightning to save money?

If you don’t finance (cash), pay minimal taxes (trade in), use all available incentives, and OTD pricing maybe. Every state varies with incentives, taxes, and fees (I live in CT).

I actually made money buying a Pro. I traded in a 2022 Ioniq 5 AWD (14k miles) and purchased a ‘23 Pro with Tow Tech + 9.6 Pro Power and ended up with a $5000 gain after receiving the full Fed Tax credit.

I also save money as my charging is currently free (work/town).

 

[Amps]

What is a rebate exemption? (The hot pink states in the first image)

 

[Amps]

I lost about $10k which isn’t bad, about what I expected.

Is that net after the tax credit?

 

[RickLightning]

For those that say they can't find a Lightning somewhere (maybe not in California or other west coast states, or Canada), if you want me to find you one (for a small fee), just DM me. Yesterday I connected a buyer in California with a dealer who had a 2022 Lariat demo, under 400 miles on it, never titled. Just have to get off the sofa and spend some time finding it.

 

[Replika]

Is that net after the tax credit?

Yes, factoring in $7500 credit and sales tax.

 

[FordLightningMan]

Spend more time reading through this forum to find out a number of people who knew nothing of trucks and less about EV’s jumped blindly on the Lightning wagon and got burned. At least they were smart enough to jump off But paid a price. Result is used trucks at a discount.

There was a ton of people looking to flip. Most of these people didn't understand the math involved and thought they'd get rich, when profit margins were slim after taxes.

I think people also overestimated the willingness to enter into such a large private sale. How many people instantly pass on a home "for sale by owner?" Flipping works better with lower cost items.

 

[detansinn]

That is concerning to me because why did two people move on from their Lightnings after such a short time?

Flippers

 

[jmc6020]

Flippers

Flips are a private sale thing. A dealer isn’t going to pay the flipper enough for the truck.

 

[detansinn]

Flips are a private sale thing. A dealer isn’t going to pay the flipper enough for the truck.

With cars where allocations are really difficult to get, flippers are very much a thing, even with dealers. Porsche 911 GT3s are often flipped with barely a couple hundred miles on them.

 

[rdr854]

If you don’t finance (cash), pay minimal taxes (trade in), use all available incentives, and OTD pricing maybe. Every state varies with incentives, taxes, and fees (I live in CT).

I actually made money buying a Pro. I traded in a 2022 Ioniq 5 AWD (14k miles) and purchased a ‘23 Pro with Tow Tech + 9.6 Pro Power and ended up with a $5000 gain after receiving the full Fed Tax credit.

I also save money as my charging is currently free (work/town).

While Virginia adopted the EV rebate, it was never funded in the budget.

 

[Grumpy2]

Oregon also had a great program, but it too ran out of money.

 

[Replika]

It was well known that the flipper market for this truck died last summer.

I’ve received dozens of contacts from dealers trying to get me to buy trucks this year.

If you want one, they are not hard to find.

 

[Amps]

While Virginia adopted the EV rebate, it was never funded in the budget.

That explains why Virginia is hot pink on that map, yet has no funded EV incentive. I guess the governor was too busy rejecting the Ford battery plant so it would be built in Michigan where the jobs from the Norfolk F-150 Assembly plant ended up.

 

[GDN]

What is a rebate exemption? (The hot pink states in the first image)

In TX it was $2500 for an EV with certain specs, but there were only about 2000 of them available. I got in early. Regardless of what it is called, it is treated like income and you pay taxes on it, so the Fed govt actually takes part of what the state gives you as an incentive. Truly screwed up actually.

Sponsored