How Much Is A Ford F150 In 2024? A Comprehensive Pricing Guide

The Ford F-150 has been an iconic pickup truck for decades, consistently leading the pack in sales and innovation. As we move into 2024, the latest iteration of this legendary vehicle promises to deliver an unparalleled combination of power, capability, and advanced technology. Whether you’re a contractor in need of a reliable work truck, an outdoor enthusiast seeking adventure, or simply someone who appreciates the rugged charm of a full-size pickup, the 2024 Ford F-150 is sure to capture your attention.

But one question that often arises is, how much is a Ford F-150? The answer, in short, is that the 2024 Ford F-150 has a starting MSRP of $38,765 for the base XL trim, with prices ranging up to $84,495 for the top-of-the-line Platinum Plus model. However, the true cost of ownership can vary significantly depending on the trim level, engine choice, and additional options you select.

This article we cover the pricing structure of the 2024 Ford F-150, exploring the different trim levels, engine options, and feature packages available. We’ll also examine the factors that influence the overall cost of ownership, compare the F-150’s pricing to its competitors, and provide tips on how to get the best deal when purchasing this iconic pickup.

Table of Contents

Overview of the 2024 Ford F-150 Lineup

The 2024 Ford F-150 lineup offers a wide range of trim levels to cater to different needs and budgets. Here’s a quick rundown of the available options and their starting MSRPs:

XL ($38,765): The base model, designed for those seeking a no-frills work truck.
STX ($45,890): A step up from the XL, with a few additional comfort and convenience features.
XLT ($49,615): A popular choice for its balance of affordability and amenities.
Lariat ($67,190): A well-equipped trim with luxury touches and advanced technology.
King Ranch ($75,730): A premium trim with upscale interior appointments and Western-inspired styling.
Platinum ($75,730): A top-tier trim with a focus on luxury and advanced safety features.
Platinum Plus ($84,495): The most luxurious and feature-packed F-150 model.

In addition to these trim levels, Ford also offers specialized models like the off-road-focused Tremor and the high-performance Raptor and Raptor R.

Buyers can choose from three cab styles – Regular Cab, SuperCab (extended cab), and SuperCrew (crew cab) – as well as different bed lengths ranging from 5.5 feet to 8 feet, depending on the cab configuration.

Under the hood, the 2024 F-150 offers a diverse range of engine options, including:

2.7L EcoBoost V6 (325 horsepower, 400 lb-ft of torque)
5.0L V8 (400 horsepower, 410 lb-ft of torque)
3.5L EcoBoost V6 (400 horsepower, 500 lb-ft of torque)
PowerBoost Hybrid (430 horsepower, 570 lb-ft of torque, combining a 3.5L EcoBoost V6 with an electric motor)
High-Output 3.5L EcoBoost V6 (450 horsepower, 510 lb-ft of torque)
Supercharged 5.2L V8 (700+ horsepower, available in the Raptor R)

All engines are paired with a smooth-shifting 10-speed automatic transmission, and buyers can choose between rear-wheel drive (RWD) and four-wheel drive (4WD) configurations.

What’s New for the 2024 Ford F-150?

The 2024 Ford F-150 received a comprehensive refresh, bringing several notable updates and improvements to the table. Here are some of the most significant changes:

Exterior Design Updates: The front end of the F-150 has been refreshed with new grille designs, updated headlights, and revised wheel options, giving the truck a more modern and refined appearance.

Interior Enhancements: Perhaps the most significant interior update is the addition of a standard 12-inch touchscreen infotainment display and a fully digital instrument cluster across the entire lineup. These high-tech features elevate the driving experience and keep the F-150 competitive with its rivals.

New Features: Ford has introduced several exciting new features for the 2024 F-150, including:

Pro Access Tailgate: This innovative tailgate can be opened in multiple ways, including a fold-down step and a swing-out lower section, making it easier to load and unload cargo.
BlueCruise Hands-Free Driving: Ford’s advanced driver assistance system, BlueCruise, is now available on the F-150, allowing for hands-free driving on pre-mapped highways.
Head-Up Display (HUD): The available HUD projects vital information onto the windshield, reducing the need for drivers to take their eyes off the road.
Vehicle Theft Tracking: A new feature that can help locate your truck if it’s ever stolen.

Powertrain Updates: While most of the powertrain options carry over from the previous model year, Ford has made a few notable changes:

The base 3.3L V6 engine has been discontinued, with the 2.7L EcoBoost V6 now serving as the entry-level engine.
The optional 3.0L Power Stroke diesel engine has also been dropped from the lineup.
The Raptor R’s supercharged 5.2L V8 engine receives a power boost, now producing over 700 horsepower.
The price of the PowerBoost Hybrid powertrain has been reduced to match the cost of the 3.5L EcoBoost V6, making it a more attractive option for those seeking improved fuel efficiency.

Featured Snippet: What is the price range for the 2024 Ford F-150?

The 2024 Ford F-150 has a starting MSRP of:

$38,765 for the base XL trim
Pricing goes up to $84,495 for the top-of-the-line Platinum Plus trim
Most models fall within the $45,000 – $70,000 price range

How Much Does the Ford F-150 Cost to Own?

While the initial purchase price is an important consideration, it’s also crucial to understand the overall cost of ownership when buying a vehicle like the Ford F-150. Here’s a breakdown of the various expenses you can expect over five years of ownership:

Depreciation: According to industry estimates, a Ford F-150 will depreciate by approximately $14,322 after five years of ownership. This figure represents the difference between the original purchase price and the vehicle’s projected resale value.

Insurance Premiums: The average annual cost for auto insurance on a Ford F-150 is around $1,760, which adds up to $8,800 over five years. However, insurance rates can vary significantly based on factors like your driving record, age, location, and the specific trim level and options you choose.

Maintenance and Repairs: Over the course of five years, you can expect to spend around $2,718 on routine maintenance and repairs for your Ford F-150. This estimate includes scheduled maintenance, wear-and-tear items, and any expected repairs, but excludes any work covered under the vehicle’s warranty.

Fuel Costs: The fuel efficiency of your Ford F-150 will depend on the engine you choose and your driving habits. Based on the EPA’s estimates, the combined fuel economy ranges from 16 mpg (for the Raptor model) to 25 mpg (for the PowerBoost Hybrid). Assuming an average annual mileage of 12,000 miles and current fuel prices, you can expect to spend between $9,320 and $14,400 on fuel over five years.

Loan Interest: If you finance your Ford F-150 purchase, you’ll also need to factor in the cost of interest on your loan. Assuming a 72-month loan with an APR of 4.75% and a 20% down payment, the interest charges could amount to around $6,985 over the course of the loan.

It’s important to note that these estimates are based on national averages and can vary depending on your specific circumstances and location. Additionally, factors like your driving habits, maintenance routine, and the overall condition of your vehicle can significantly impact the long-term cost of ownership.

How the F-150’s Price Compares to Rivals

When it comes to full-size pickup trucks, the Ford F-150 faces stiff competition from other popular models like the Ram 1500, Chevrolet Silverado 1500, and GMC Sierra 1500. Here’s a quick comparison of how the F-150’s pricing stacks up against its main rivals:

Ram 1500: The Ram 1500 has a starting MSRP of $37,610 for the base Tradesman trim, which is slightly lower than the F-150 XL. However, the top-of-the-line Ram 1500 Limited can reach over $65,000, putting it in the same price range as the higher-end F-150 trims.
Chevrolet Silverado 1500: The Chevrolet Silverado 1500 starts at $36,600 for the Work Truck trim, making it the most affordable option in this comparison. The premium High Country trim, however, can exceed $65,000, on par with the F-150 Lariat and King Ranch models.
GMC Sierra 1500: As Chevrolet’s sister brand, the GMC Sierra 1500 shares many similarities with the Silverado, including pricing. The base Sierra Pro starts at $38,195, while the range-topping Sierra Denali can reach over $70,000, rivaling the F-150 Platinum and Platinum Plus models.

It’s worth noting that these prices are for the base models of each truck, and the final cost can vary significantly depending on the trim level, cab style, bed length, and additional options selected. Additionally, manufacturers often offer incentives and discounts, which can further impact the overall price.

While the Ford F-150 may have a slightly higher starting price compared to some of its competitors, it offers a wide range of configurations and feature packages, allowing customers to tailor the truck to their specific needs and budget.

What Drives the Cost of a Ford F-150?

Several factors contribute to the overall cost of a Ford F-150, ranging from the trim level and engine choice to the cab style and optional packages. Here’s a closer look at some of the key elements that can influence the price:

Trim Level: As mentioned earlier, the F-150 is available in various trim levels, each with its own set of standard features and equipment. Moving up the trim ladder from the base XL to the top-tier Platinum Plus can significantly increase the price, with higher trims offering more luxurious appointments, advanced technology, and enhanced capabilities.

Engine Choice: The engine you select for your F-150 can also have a significant impact on the price. The base 2.7L EcoBoost V6 is the most affordable option, while the more powerful 5.0L V8, 3.5L EcoBoost V6, and PowerBoost Hybrid command higher premiums. The range-topping Raptor R, with its supercharged 5.2L V8 engine, is the most expensive engine option, contributing to its six-figure price tag.

Cab Style and Bed Length: The cab style and bed length you choose can also affect the overall cost of your F-150. The Regular Cab models are typically the most affordable, followed by the SuperCab (extended cab) and SuperCrew (crew cab) variants. Similarly, shorter bed lengths generally carry a lower price tag than longer beds.

Drivetrain Configuration: Opting for four-wheel drive (4WD) instead of rear-wheel drive (RWD) can add several thousand dollars to the cost of your F-150, as it requires additional hardware and components.

Option Packages and Standalone Options: Ford offers a wide range of optional packages and standalone options for the F-150, allowing buyers to customize their trucks to suit their specific needs. These can include luxury and technology packages, off-road packages, towing packages, and more. While these options can significantly enhance the capabilities and features of your F-150, they also contribute to the overall cost.

Featured Snippet: What is the most expensive Ford F-150 model?

The most expensive 2024 Ford F-150 model is the F-150 Raptor R, with a starting MSRP of around $109,000. This high-performance variant is powered by a supercharged 5.2L V8 engine that produces over 700 horsepower, making it the most powerful F-150 in the lineup.

Top Features That Impact F-150 Pricing

While the trim level and engine choice are significant factors in determining the cost of a Ford F-150, several other features and packages can also contribute to the overall price tag. Here are some of the top features that can impact the F-150’s pricing:

Luxury and Technology Options: For those seeking a more upscale experience, Ford offers a range of luxury and technology options for the F-150. These can include features like massaging seats, a premium B&O audio system, and the innovative Pro Power Onboard system, which essentially turns the truck into a mobile generator.

Off-Road and Towing Packages: If you’re planning to take your F-150 off the beaten path or need to tow heavy loads, Ford offers several packages to enhance its off-road and towing capabilities. Options like the FX4 Off-Road Package, Tremor Off-Road Package, and various towing packages can add thousands of dollars to the final price but provide the necessary equipment and upgrades for tackling challenging terrain or hauling heavy trailers.

Driver Assistance Technology: Ford’s suite of driver assistance technologies, including features like BlueCruise (hands-free driving on pre-mapped highways), trailer backup assist, and a surround-view camera system, can add significant value but also increase the overall cost of the F-150.

Appearance and Styling Packages: For those who want to customize the look of their F-150, Ford offers several appearance and styling packages, such as the Sport Appearance Package, Chrome Appearance Package, and various wheel and exterior trim options. While these packages primarily enhance the truck’s aesthetic appeal, they can still contribute to the final price tag.

It’s important to carefully consider your needs and priorities when selecting these optional features and packages, as they can quickly drive up the cost of your Ford F-150. However, for many buyers, the added functionality and convenience may be well worth the investment.

How to Get the Best Deal on a Ford F-150

With the wide range of configurations and options available for the Ford F-150, securing the best deal can be a daunting task. However, by following a few simple tips, you can increase your chances of getting the most value for your money:

Compare Prices from Multiple Dealers: Don’t limit yourself to a single dealership. Shop around and compare prices from multiple Ford dealers in your area, as well as online retailers. This will give you a better understanding of the market and allow you to negotiate from a more informed position.

Time Your Purchase: The timing of your purchase can also play a role in securing a better deal. Dealers may be more willing to offer discounts and incentives towards the end of the model year, during holiday sales events, or when they need to clear out inventory for the upcoming year’s models.

Explore Financing and Leasing Options: While purchasing the F-150 outright may be the preferred option for some, exploring financing and leasing opportunities can sometimes yield better deals. Many manufacturers offer attractive financing rates and lease specials, which can lower your monthly payments or provide additional discounts.

Check for Discounts and Incentives: Ford often offers discounts and incentives for specific groups, such as students, military personnel, first responders, and loyal customers. Be sure to inquire about any available discounts or incentives that you may qualify for, as they can significantly reduce the overall cost.

Negotiate Effectively: Don’t be afraid to negotiate. Come prepared with research on current market prices, competitor offers, and any trade-in value you may have. Be respectful but firm in your negotiations, and be willing to walk away if the deal isn’t to your satisfaction.

By following these tips and being an informed buyer, you can increase your chances of securing the best possible deal on your 2024 Ford F-150.

In Summary

The Ford F-150 is a versatile and capable pickup truck that offers a wide range of configurations and options to suit diverse needs and budgets. With a starting MSRP of $38,765 for the base XL trim and prices reaching up to $84,495 for the top-of-the-line Platinum Plus model, there’s an F-150 to fit most buyers’ requirements.

However, the true cost of ownership extends beyond the initial purchase price. Factors such as depreciation, insurance premiums, maintenance costs, fuel expenses, and loan interest charges should also be considered when budgeting for a Ford F-150.