How Much Did I Lose on My F-150 Lightning
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- čas přidán 3. 02. 2024
- There are plenty of new 2023 Ford F 150 Lightning for sale. There are also plenty of used F 150 lightning. This was the hurdle when it came to selling my 2022 Ford F150 Lightning XLT to Ford or Carmax, not to mention the 2024 EV tax credit deals and Tesla Cybertruck competitions. This video will give you a good idea on the true cost of F150 Lightning price according to my F150 Lightning cost of ownership.
#f150lightning #fordlightning - Auta a dopravní prostředky
I appreciate the complete and honest transparency about your finances in this endeavor. Keep up the great content!
You’re not wrong, I subscribed to you because you bought that truck and showed us the complete buying process. Thanks man.
Oh, and I bought a Hyundai Ioniq6 which also dropped in price significantly :(
Hey thanks for being part of the journey. 99% of cars in general goes down in value the moment you drive away from the dealership. Sure, some hold their value more than others, but that's not my expectation. We're aware of the risks but we also know the experience of owning one. Make great memories with that Ioniq6!
The depreciation on EV's is Biblical - about the same rate as pushing an anvil of a cliff edge.
Props to you for being transparent. If I was that much under water on a vehicle I'd freak out. I appreciate your positivity, that's my biggest takeaway from this video
Nice segment - thanks. And your camera work and editing in the outro is fantastic
Thank you! I really enjoy editing videos. 😁
Thanks for sharing, good stuff. Love my lightning, 7th F150, but first EV. Can't beat the fuel savings of an EV, and this is the best riding F150 of them all. My commute is around ~204 miles daily. So the savings vs. premium gas for the ecoboost are amazing.
~204 mi daily?!! and 7th?? Okay you have all of us beat. LOL. Me too. This was definitely the best F150 out of all 4 I owned. Sure it's subjective but more objective once you own all of them. You're making the best of it. Thanks for the views and the support!
Wow, that's quite a commute. At that rate, the fuel savings will pay for the truck in just a few years.
People don't realize, depending on the use case, some EV owners are saving a ton of moolah.
Holy crap and I thought my 100 mile commute was bad!
So I’m seeing here in Texas some 2022 ford lightning platinum’s with under 20k miles going for 60k, crazy
I'm in California and would buy a Platinum for 60k. Prices have not come down that far, yet. I'm waiting.
@@donyellum2424 seen them twice in 2 weeks. Once a week they’re around 75k here rn but I wouldn’t be surprised if another pops up. Last one I saw was 57k in Houston Texas
I just bought one for $56K with 28K miles
Both houses & cars have become too expensive for most Americans these days, most especially for single people and/or single-income households. Even a lot of 2 income households can't afford them.
This issue has been exacerbated by the practices of insurance companies, which can have negative effects as well. Some insurance companies may contribute to rising prices by providing coverage that encourages risky lending and speculation. Additionally, certain insurance policies can be expensive, making it even more challenging for families to secure affordable properties. It's important for individuals tor consider diversifying their income streams, independent of government reliance, as a wise approach in the current situation.
Excellent video with great information that will help people. Honest, authentic and intelligent qualities are hard to find on YT. Well done and you got a new sub!!
I have n EV and I think it's great especially with a daily round trip of 60 miles. BUT I have a garage and I charge every third night, otherwise EV's are too much a pain to count on cruddy charger network. I don't have range anxiety, I have charger anxiety.
That's especially true here in Texas with our unreliable power grid during times of extreme weather may it be extreme cold or heat.
@@MrBigBoy4Life I live in Dallas area, when I do a road trip west, I have to go through Oklahoma…..OKLAHOMA !!!……they have a better infrastructure
Thank you so much for the enlightening transparency!
Thanks you. I will try to bring the same theme for my second EV when that time comes.
Daughter just bought a car from Carmax. They took car to mechanic day one. Found car had not been serviced and needed brakes and rotors. Carmax paid for repairs but said they would only pay if done within 7 days of purchase. They did. Daughter feels Carmax was a good company and would buy from them again.
Hey thanks for sharing. That's good to hear. Still little concerning if Carmax is not checking the car before selling it. I only have experience selling to Carmax. That part, I usually recommend to people since I only had good experience selling to Carmax.
I really liked your videos. They’re really easy to hear and understand. Good lighting and not too long.
Great content. Your informative, honest videos influenced my decision making. I purchased a lightning but negotiated for 4 months with 6 dealerships. I eventually purchased a new lariat for 22k under msrp. (Final price was 61k before trade in and down payments) Using the ford rebate program 1116 (7500$ rebate) and the point of sale 7500$ rebate plus state rebate. And I negotiated free bedliner and blue cruise and charger and some other stuff.
I also helped the dealer set up his IRS eco and volunteered my purchase to test run their system on Jan 2nd 2024.
I have not paid to charge because NY has free level chargers everywhere.
Hi there...Im in the market too. If $15k for the two 7500 rebates, then you got them to take 7k off msrp? Dealers in Boston area are still stingy with the discounts. Mayybe $3kish off, as far as I've been able to see so far. Do you think the extra discount you got was for the help you gave them?
So it costs you (eventually) around $700 a month over 18 months … if you subtract what it would normally cost for gas .. say $300 a month .. you paid $400 a month (including insurance no less) for a brand new $60k truck .. that sounds like a win in my book.
Where are you getting a $60k truck for 400 a month in these interest rates? Even best score still gets 5% rates. Unless you are talking about a LEASE which not everyone does
He paid more than $700 a month for his payment.
@@IRLSuperb WE paid over $300/month for him to own that truck
Looking forward to more content from your channel…. Loved your editing and quality of the content and subject matter! Please make more!
excellent information and well presented! thank you for the honesty!
Great video. Thanks for the update. I went with the F150 powerboost
Glad you had the experience. We have to pay for experiences, so life isn't always about never spending any money. I enjoy EVs mire than anything I've ever bought, so worth the depreciation fir the experience. Love your videos. You have a great family.
Well put! That was my ending for this video on the other take. I made lots of awesome memories with my kids in this vehicle. Priceless. Thank you. Really appreciate your support!
great content. loved the story. did not know you had access to free charging, thats great!!!
I really enjoyed your honesty and the video. New Subscriber!
Thank you for the information and see you in the future.
Thank you for sticking around! Really hope to see you on my next video.
Our Lightning Dream is identical. I hoped to be one of the first people with the truck and making videos and making money. Had no idea the prices would drop, no idea the trucks would be so readily available. But hey, sad to see you leave the Lightning family. At the end of the day I love my truck and glad I took a leap on it. Thanks for taking us on this journey with you
Thanks for letting us know how much you made on YT most are not as forthcoming. Enjoyed your vids hope you get home charging some day
I started this channel being transparent so I had no problem sharing that info. Really appreciate you watching my video! Home charging is definitely the way! 😁
Thank you. Appreciate all the honesty.
Can’t believe you sold it! Best truck I’ve ever owned.
I have a Honda 50 Moped Channel. I just bought a new top of the line battery for $35.00 US DOLLARS. I put in one gallon a week for 95 miles per gallon or better. With gas prices today, my little bikes are looking better and better.....
Great video! Thanks for breaking down
Really enjoyed your videos and sad that you sold the Lightning. Have mine for 15 months now with 20k miles and really enjoy the technology and smooth, quiet ride that I get. I tow occasionally and just have to plan for a potential stop to charge, as I also do with loss of battery during the cold weather, but even with those limitations I have only used a charger outside my house and vacation cabin once. It fits my lifestyle and works for me, but it’s not for everyone. Hopefully the technology continues to make strides.
Software issues, dropped calls etc? Experience any of that?
I have had my Tesla for 5 years now. I have only had to put tires in it a few times and I charge at home.
The Tesla costs me almost nothing to drive as charging at home is so cheap and tires are only $1100 every few years.
Thanks for everything!!
Been a blast for season 1. Looking forward to season 2! 😄Thanks for the support!
Really wish you made more videos because you do such a great job
Tundra capstone with 6' bed. Can't wait for mine. My 2nd generation tundra served me well 😊
Hope your cannel goes to sky! Great vid , also thanks for the transparency it seems genuine to the numbers reported and what most dealers will offer. Later gator.
He has great content so I think his "cannel" will continue to grow.
ok you got me channel , typing with minus 2 digits...@@MrBigBoy4Life
Thanks for sharing your numbers, great information. I really overpaid for an extended warranty for a Kia Sorento, long story short, I got back $5,600 when I cancelled the extended warranty. A big mistake I won’t make next. I’m probably headed to leasing since I only drive about 6k miles a year now.
By driving so little, you don't really need an extended warranty anyway. I'm 55 years old and have financed about 20 vehicles thus far in my life. I've NEVER come across a situation in which I regretted not buying an extended vehicle warranty.
@@MrBigBoy4Life True, I won’t get another one.
I enjoyed your video very much, and I think you did an excellent job of outlining the pluses in the minuses. I’m really interested if you start a channel on how to get into making CZcams videos or having a CZcams channel. Please let me know if that’s something you’re going to do I would love to be one of your first viewers.
Thanks for sharing the numbers. Interesting thing is to see the EV Trucks getting cheaper to buy, the total cost for ownership numbers go down in the future as EV cars get cheaper
Hey bro, you have a great channel! Even if you decide to talk about a totally different topic, I think many of us would still follow along and your production quality is great. Do you have any other channels?
Thanks Tristen! That means a lot. Just that videography channel. It's hard to keep up with multiple channels and do it well at the early stages. Don't worry, I will be back on this channel once I streamline my other one! 😀
Hi, I have a Tesla model 3 and I am looking to get another car at the moment.
I am between a Tacoma and a f150 lighting. Do you think it’s worth it to get this truck or do you think it’s probably safer to just get a ICE car?
Thanks for the honesty
Any warranty work or repairs, most had recalls that took months to get
You overstated the interest actually paid. You listed what the amount would be if you made monthly payments to the loan end date when you should have calculated interest for the 16 months, which is considerably less.
Glad you enjoy doing this. If you make money that’s a bonus.
The transparency. Subscribed
I drive a 24 year old Toyota. The oldest ev I’ve seen is a 2014 model s. They’re rare. When I see thousands of 20-25 year old EVs on the road, I’ll think about it. Right now the idea of a buying a new car every 10 years out of necessity seems excessive. Cars are supposed to last.
Good job being a champ about the loss. I had a lightning on order and was called to take delivery. I noticed the downward trend of them and bailed. Got a 4xe on lease instead. Which honestly is “okay”… if anything you should get the new EX30 by Volvo as it looks like a great affordable EV that should compete with Tesla. Might be good for content
great data and content!
Thank you! Really appreciate your comment!
@@EVTruckLOG welcome! Subbed!
Who is your insurance company?
Getting my cybertruck (Cyberbeast) hopefully this summer. Come by maybe in late July or August to Sunny California if you are interested doing a video on it.
Losses are high if you only keep a car for a year or two. I bought an F-150 Lightning a couple of months ago and intend to keep it minimum 5 years, but who knows, I may keep it for 20 years or more. I am positive about the future of EVs, and it's why I've been buying lately. I also have a 2014 Model S that I've had for about 8 years so far. It's been about 5 years since the last time I bought gasoline. I use all electric yard tools as well, including an electric lawn tractor (Ryobi). I'm loving EVs. They are the future. Still some growing pains for EVs yet, but it's improving every year. I'm looking forward to the switchover to NACS and Tesla opening up their charge network. Hopefully Tesla is planning on ramping up construction of V4 Supercharging stations.
If you keep it for 20years how much are you willing to pay for new battery?
It could be 20 years if it were an ICE - but never an EV unless you were into 2+ battery changes and motors and invertors etc.. all more than the cars value by that stage.
@@xraylife Companies like Tesla and Ford are giving out 8 year warranties on their batteries. These companies don't want to replace batteries for free, so there is going to be some buffer there. This means they expect these batteries to probably last at a minimum 10 years. My personal bet is that most of these batteries will last anywhere from 20 to 30 years.
@@Skotty64081 Oh, come on - there are plenty Teslas on there 3rd battery by 12 years. Its never going to be economic to run past that point.
The transparency here is amazing. Though it’s not too much of a surprise the niche of EV’s is waning. Thank you for this video
This is the new anti Ev talking point 😂. Chevy is shooting itself in the foot with poor quality roll outs. Ford is not selling the volume they expected. Let's talk the other side, Kia/Hyundai, BMW, Tesla, Rivian all have huge sales numbers YOY
Thanks for sharing all this info. I was watching the video expecting to see a total depreciation during your ownership. The cost of ownership numbers you provided are a little different since they include insurance, charging, video revenue, etc. So here's my go at depreciation amount. I'm backing into these from the numbers you provided, but here is what I'm calculating. Your total sale numbers appear to include 100% of the financing costs (6 years at 5.39%) as well as the warranty cost. Removing these costs, your actual out-the-door cost, including tax, title, fees, etc. was probably around $59,400. CarMax offered you about $44,000. So you 'lost' $15,400 in depreciation. That's more than $1 per mile at 13,000 miles. The tax credit, appears to have offset about 1/3 of that loss. Dang, that's still a lot of money.
Great video and frank exposure if aspects of an EV. But the whole time I was watching it I was waiting for you to talk about the elephant in the room sitting next to you
Happy for you your wife let you do this channel. She must be so giving and forgiving.
970 a year for insurance must not have been full comprehensive?
Noooo. Oh well, very thankful and interested with the channel so ill stick around for whats next.
EVs really show value when able to charge from home. Even more so with solar. I think you did quite well without them.
Love my '23 pro w/pro power. Its powered my entire house a few times. Till next time!
Hey I appreciate that. I'll be back sooner than later. On my next house, if the tree line allows it, I would love solar. I'll be back on this channel soon enough. Thanks so much. Till next time!
Try a RAM. I moved over from Ford and am very pleased with my LIMITED. RAM is also introducing their EV this spring along with their hybrid RAMCHARGER that's supposed to have a 600 mile range. I like your channel and subscribed. Great info!
Quite impressive you got that much. I just bought a brand new XLT for $7,500 off MSRP plus $7500 fed tax credit... lol, I might take it to Carmax just to see...
Did you get a full $7500 back from the tax credit? I’ve seen reports that many people are only getting a few hundred back on their taxes because the $7500 doesn’t count as an overage, it just reduces your overall tax liability.
@@JackMehoff-iq5he Used to be the tax liability. It is now a point of sale discount based on your income. Lower income means more eligibility instead of the perverse incentive of the old credit. Note: That is my understanding based on press releases. No forms for the 2024 year have been produced by the IRS, and they will not be released until nearly the end of 2024.
The trouble with the 7500 rebate is other rebates come off first. If your getting a rebate for solar on your house or other rebates back they cut into the vehicle rebate. You need to research this 7500. Tax credit and find out if your already getting other rebates or credits that will reduce or eliminate this rebate in the tax year. Not saying don't buy a vehicle just maybe next year is a better time to get the full credit.
I say wait until some of these EVs get the built-in NACS ports or at least giving out NACS adapters with the purchase of that EV, if you don't go with Tesla. Also, there are used EVs with a near 25 percent off their regular price. Good on your adventure until then.
People who use trucks as trucks don't buy EV's. Try going on a hunting/camping trip with all your gear. Try towing your equipment to a job site if you're in construction. It's not usable.
EV,s have become the atest Apple gadget must have. You might not need one but it's an ego trip. 😊
Nice summary, but what about insurance coverage/premium--something no one mentions? What's the difference in cost for insurance--ICE vs EV? Thanks
Car insurance depends on so many variables (what state you're in, what part of that state you live in, your age, driving record, are you single or married, are you insuring 1 vehicle or multiple vehicles, credit score, etc....) that what his insurance rates were on his Lightning and/or what it cost to insure the Lightning vs lets say his previous ICE F-150 would have no relevance to you. Just check with your insurance company to see what the difference would be for you.
@@oneslackr Agreed. I guess it's just me that forgets to factor in the added cost? Anyways, according to the google--expect to pay 25% more for EV coverage over ICE.
I just traded in my 2022 Jeep Grand Cherokee 4xe - a lot of places refused to even take it because it was a 'unicorn' that they would not be able to sell. It lost about 50-60% of its value in the year and 2 months I owned it.
I was so excited for the F150 lightning when it was announced but I was shocked at how expensive they were, no way I could justify a 100k EV pickup.
Meanwhile, I bought a 5 year old F150 Lariat for $22,000 with 12,000 miles on it (private sale). I have owned it 8 years, and it now has 180,000 miles on it. It's worth about $10,000 now. Used for the win, private party sale.
Thinking of buying the base 2024 Pro with Heat pump. What do you think?
If you can get the dealer to sell it around $40k, it’s a great deal. I say that in a general sense of course. I am looking at some of the non tax qualifying smaller EVs and it’s more expensive than the Lightning 😂
You can't buy a 2024 Pro unless you have a Ford Pro account (business) 2023 was the last year a regular consumer could buy one
I bought a 2023 Pro last August and love the truck. I added running boards and hooks in the bed and have all I want. Getting the heat pump would be outstanding. Don't think you would be disappointed.
It’s the Best Buy right now. Look for the free charging stations. I use them at work and never have to pay for electricity.
It’s tempting to explore the market since EVs are relatively new and in the video makers case, the Lightning was really the only electric truck at the time he bought it but going to dealerships can be a pain and straying from Tesla can even be more hazardous. Tesla is the only proprietary, fully integrated EV in the U.S., this means all the components and software are created by Tesla, all components go through the central computer and can be updated OTA. No other manufacturer offers a proprietary, fully integrated EV because they outsource their components to companies like AC Delco and Bosch, when you buy just an EV you are buying the equivalent of a flip phone, when you buy a Tesla , you are buying the equivalent of a smart phone that is 95% made in America.
Great job 👏
Awesome video! I'm going out to by an F-150 Lightning!
Like your channel,,thanks
Ford should really ship those cheaper models to Canada. I ordered a Pro last august and I don't even have a build date yet. XLT standard battery can't be found anywhere. In the meantime you have PRO on dealer lots.
Have enjoyed watching ever since you got the Lightning
Hey thanks for that Jason!
We have several chargers in the Target shopping center. BUT they are always full of Tesla cars just sitting there unattended.
Insurance price is way too low, what state or agency insured this vehicle, the normal rate annually is closer to $3k a year....about double a normal car...that is ICE or Hybrid
Oklahoma Ford dealers still have year old F-150 Lightnings on lots. This thing has been a huge sales flop in this part of the country.
Did I miss how many miles you placed on this EV?
I think you will like your Rivian, what model did you get? It’s way better than the Lightning.
haha, how did you know I looked into Rivian? LOL. R1T is an impressive vehicle. It's little above my comfort price without the tax credit. Hope they make the R2 lineup soon.
Looking at getting a new XLT lightning for 38k almost 20k off msrp
Well, the next time you're ready to make another EV purchase, the EV mileage tax fees will have been implemented, so you'll be able to discuss that in your videos as well.
You can buy Cybertruck.
Maybe something like Ioniq 6, or EV9 would be good.
I just wish it had a front middle seat option and column shifter. Then I would get the Lighting
I have so enjoyed your videos !
Happy your rid of one of Fords “ Better Ideas “
Wow what a whole lot of wasted money,,,good for you for being positive about about your loss,,,me no thank i do it way better than your way. ,,,,by far!!!!!!!
What is your next car/truck?
We will see how long the savings of EVs vs gas in the future with talk of additional tax on EV owners utility tax to make up the loss of fuel tax
Sell it directly to a buyer. Never, EVER sell it to a dealer. Or losing money bigtime is totally on you.
And dealers using your federal rebate to count as their rebate. LOL. That was the whole point of direct point of sale, so that dealers could use it as a discount for all their fees and markups as their own rebate. In essence, they're stealing your ENTIRE rebate. I said that was going to happen from the start.
👍🏻👍🏻 It's like spaghetti. Throw it against the wall and see if it sticks. The Ford lightning was obviously not done.
Good luck with your endeavors.
Dealers always rip you off. For a normal F150 (non-electric) Carvana offered 15% more than local dealer. Dealers will continue to get supply from auctions. Once the word is out, these other places will get all the would-be trade-ins. Doesn't make sense to accept thousands less for no additional hassle
I really wanted to buy a lightning 14 months ago it was just out of my price range. I did buy a gas-powered f150
Sub +1 , keep up the videos bro
I couldn't find the link to your videography channel.... 😳
Thanks for asking. I think the link card is not working. Here it is: youtube.com/@SePark?si=xDybp7Fo-hxpSB_J
I will never understand why people buy Evs and don’t have a way to charge them at home
How did you pay $68k for a vehicle with an MSRP of $56k (when you just paid MSRP for the vehicle).
Where do you live that you have so many free chargers?
Do you know how much early Model Y owner lost on there EV ? A lot !
I don't think anyone without home charging should own an EV. It's just too inconvenient.
You could get 12k plus rebate in November
Think you have to keep the EV for three years to maintain that tax credit
I'm going to go get a Toyota Stout when they go on sale.
I just bought a Lincoln Town car for $2200.
Jeeze that's excellent to only lose that amount on buying a brand new car and selling after a year a bit.
I bought a 2024 Chevy 2500 Custom Z71 package 6.6L gas engine. I love it, I can tow up to 20,000. I paid all cash in Dec 2023, the IRS let me depreciate it 80% in 2023 for our business. I paid 54k out the door. No regrets, and I d do it again.
All these EVs seem to have reallllllly dumb repair costs.