Hey everyone! Hoping to get some input from the forum on something I’m trying to think my way through. This may end up being word vomit and a bit meandering, so I apologize in advance but appreciate any input!
I will soon be in the market for a new vehicle. While I am not dead set on electric (this would be my first EV, but I am very interested), nor dead set on this particular vehicle, a truck that I am (and have long been) extremely interested in is the Ford F-150 Lightning. This is not the only vehicle I am considering, and it largely represents a “want” for me – an EV pickup is the ideal vehicle type my mind and I have long loved this particular truck – however, while I’d love it, there are more sensible options that I should and will consider (more on that below).
Some general info about me: I have 2 young children in car seats and need 2nd row space for that, however, this vehicle will largely be a daily driver for me – predominantly going to daycare and to work, with local weekend driving. We have a large 3-row SUV that we financed a few years ago that will serve as the long term "family trip” car. I installed solar panels at my home last year and, while I have not been able to bank kWh’s (due in large part to a very cold, snowy winter), I am hoping that changes and I start to reap the benefits of a cheaper cost of electricity moving forward. In light of all of this, I acknowledge that it probably would be most fiscally responsible to simply lease something cheaper and more sensible (even if not desirable), and revisit the “ideal EV truck” options 2 or 3 years from now as my kids transition out of car seats and I get a better grasp on my cost of electricity at home. But the heart wants what the heart wants, so…
With all of that said, I am wondering if some current incentives and price cuts may create a deal that is good enough to get me to pull the trigger on the Lightning in the coming months. He are some thoughts and considerations that I’d love some input on!
Of course, this truck has been discontinued. That, plus (i) the depreciation that EVs face in general and (ii) the cost of installation of a home charger make me a bit weary of buying. However…
The financing options look amazing. There is currently 0% interest for 72 months offered through Ford financing, along with cash back and a deferred first payment. By my calculations, even with these incentives the monthly payment would be towards the higher end of my ideal budget (depending upon my level of success in negotiating the price), but I feel it is impossible to ignore the allure of 0% financing.
Essentially, I am wondering if interest-free financing on a truck that I love is strong enough to override my concerns over buying an EV (and a discontinued one at that) as well as the theoretical cost savings of going with a more sensible leased vehicle instead.
I can’t answer your central question but it cost me less than $500 to put a 240V outlet in my garage. Have you already priced this and found it to be cost prohibitive?
I have not yet. My electrical panel is in my basement in the back left corner of my home and my charger would be in or on the outside of my garage, which is in the front right of my home. I need to get it priced out if this becomes more realistic, but my assumption was that the cost of installation (given the distance the wire will need to be run) plus the cost of the charger itself will total $2-3k or so.
Hopefully I am overshooting, but even if I am not, this alone would not be a key factor in preventing me from moving forward. Just a piece of the equation.
This wouldn’t be feasible for most households but we have two EVs right now that share one Level 1 charger, so it’s possible to get by with just a 120V outlet you probably already have.
You could also augment L1 charging with fast public charging, but there are multiple non-trivial variables as to how feasible would be for you.
Sounds like you have some homework to get estimates before moving forward with anything else.
Yes your heart is allowed an F150 lightning but no you aren’t allowed to buy one new and take the depreciation hit. Lease, transfer, or buy a used one.
Thanks for this! I think the stumbling block for me is the idea of financing used at 6-7% vs new at 0%. Payments will be less on the used strictly based on sale price, but the cost of interest will make those numbers closer than they should be.
just buy it used. seen some base Pro/Flash models get in low 30s. Slept on trucks for those who don’t go out of town often, and even then you have access to supercharger most major thoroughfares
I had a 240V outlet and a separate Wallbox charger installed in my garage in September for $1500. I already had the charger from a. Nissan Ariya promo. The run to the charger was ~65ft from one of my outside panels at the back of the house, to 5 ft from the front of the garage. The 240V outlet was about 20 ft from my basement panel (repurposed the dryer slot with suitable wiring). Currently have 2.5 EVs and only use the Wallbox charger because it is faster. All but $100 of the install was covered by a local utility rebate.
Lease it only. I got a 24 Lightning Lariet in December 24. 83k sticker. After incentives and 0 down 24 month and 7500 miles a year. I walked out with a 574 a month payment.
My lease is up in November and I’m gonna go for an AT4Ev. Trade in on my Lightning right now is mid to high 30’s. Always lease EV’s.
I also installed 240 in my garage for &150 in part from HD. I have only ever public charged 2times. It was as much as gas. Great truck though. Just don’t tow.
