Retail Cash Incentive Canceled
Ford has withdrawn the monetary incentives previously offered on its electrical F-150 Lightning truck, meaning that procuring the vehicle will now cost considerably more than it did before.
CarsDirect discloses that Ford has ended the rebate program for the F-150 Lightning, with an announcement from an authorized seller stating there is no Longer the Retail Customer Cash incentive of the F-150 Lightning available. This should not be considered intertwined with the independent $7,500 tax credit.
A Ford Credit representative proved that the rebate was terminated, with Ford multiplying their Lightning incentives to comprise cheaper interest rates. By including the Retail Customer Cash incentive on top of the tax credit, shoppers had an opportunity to save up to $15,000 off the cost of an F-150 Lightning. Notably, XLT versions were presented with just a $1,500 deduction.
Despite the pessimistic headlines, F-150 Lightning customers aren’t out of luck. Ford Credit is now providing promotional financing so that people can acquire these electric trucks. Yet, it’s a better deal than before as purchasers can have access to low rates as little as 1.9% APR and can also enjoy ninety days without having to make any payments.
Nonetheless, this attractive offer is merely available on a 36-month loan scheme. However, in the event that someone would like to take out a different loan option, interests rates will be somewhat higher: 48 months (2.9%), 60 months (3.9%), as well as 72 months (5.9%).
Leasing offers are still available, and have not changed from November. The prices are discounted considerably; specifically a $1,500 reduction for the XLT model, with an even bigger price cut of $5,000 for the Lariat, and an unanticipated $7,500 off the Platinum. It is somewhat unexpected that Ford has not made these deals more attractive given that sales numbers have decreased since the launch.
The cost of the F-150 Lightning has been unsteady, with the Manufacturer’s Suggested Retail Price (MSRP) fluctuating significantly. The MY2024 models are starting at a hefty $52,090, a huge amount for a standard working vehicle. It is worth noting that the Lightning Pro was unveiled with an amount under $40,000.
If you’re considering the purchase of a Mustang Mach-E, better act fast! Ford anticipates that the $3,750 tax credit will be eliminated in January 2021. This has us pondering whether the auto giant will reduce costs for the electric SUV. The iconic automaker has already acknowledged that there is a financial loss on each electric vehicle it markets. Thus, cutting prices even further may not be the most advantageous course of action.
Ford has already dropped their prices on the Mustang Mach-E in order to contend with Tesla, yet we wouldn’t be shocked if there were further rate cuts coming soon.
