The federal and state governments offer enough incentives for electric vehicles to lower the Lightning’s low starting price.
The most surprising (pardon the pun!) thing about the 2022 Ford F-150 Lightning electrical truck’s debut was not the vehicle’s range or charging speed. When Ford revealed that the F150 Lightning would be priced at $39,974 , before state and federal incentives were taken into account, our collective jaws dropped.
The F-150 Lightning Lightning will be the most affordable electric pickup available and one of the least expensive in the future.
We did some research to determine where the country had the best incentives for electric vehicles and what the F-150 Lightning would cost after they were added. We were amazed at the results.
A base F-150 with a gasoline engine costs $28,940. We found that a base electric F-150 can be cheaper than a gasoline one in four states. One state even offers a lower price for the Nissan Frontier.
You may be eligible for the $7,500 federal tax credit when you purchase an electric vehicle, regardless of where you live. Ford has plenty of EVs that they can sell, even though automakers have a limit on the number of EVs they are allowed to sell. Only Tesla and GM have used up theirs to date. This is a tax credit and not an instant rebate. You won’t be able to see the money until your taxes have been filed for the year you purchased the EV.
The F-150 Lightning’s starting price drops to $32,474 after the federal tax credit is applied. However, there are many other incentives available to EV buyers. Many offer rebates between $1,000 and $2,500. However, the ones we have listed offer more.
Only problem is that the F-150 Lightning base model is a commercial truck. The XLT model is more comfortable and has more features, but we don’t know the exact specifications. It starts at $52,974 after incentives.
Maine offers a $2,000 rebate to any person, business or organization that purchases an electric vehicle. However, it offers a $5,500 rebate to qualified low-income customers. These include those who have been eligible in the past year for the Maine Low-Income Home Energy Assistance Program. This rebate means that the F-150 Lightning’s starting price is lower than the $27,190 starting price for the Nissan Frontier.
Oregon offers two rebates for electric vehicle owners. The standard rebate is worth $2,500, which can be used to purchase or lease any plug-in hybrid (PHEV), or electric vehicle with a maximum battery capacity of 10kWh or more. The second rebate is the Charge Ahead rebate. It’s worth $2,500 and can be used for any PHEV and EV purchase. Oregon permits you to combine rebates up to a maximum of $5,000
This is $500 less than Maine’s incentive amount, but Oregon has no sales tax and no low income requirement. This means that you will be more likely to qualify for every rebate, and the total amount saved in taxes will be greater in Oregon.
After the state’s original program was closed in October, Vermont launched its new electric vehicle incentive program in 2020. EV buyers can get up to $4,000 off the cost of a pure electric car, provided their adjusted gross income is below $50,000. The incentive drops to $2,500 for those who earn more than $50,000.
Colorado offers a tax credit, but not a rebate. The credit is worth up to $3500 if you can purchase an F-150 Lightning before 2022. We assume that it is true. A light duty electric truck with a Gross vehicle Weight Rating (GVWR), greater than 8,500 lbs but less than 10,000 lbs is eligible for credit at $3,500 This is where the F-150 Lightning will be. The credit will rise to $5,000 if it is more robust than expected, with a GVWR greater than 10,000. If its GVWR is below 8,500 pounds, credit will be only $2,500