Younger Buyers Are Snapping Up Ford Lightnings, But Not The Electric One

Used Ford Lightnings have shot up in price in recent years amid a surge in demand by millennials and younger demographics. But the Lightning in question is not, as you might expect, the recently discontinued all-electric pickup (which is a great truck in its own right), but rather Ford's decades-old sports truck, the F-150 Lightning built by the Blue Oval's Special Vehicle Team in two series, from 1993 to 95 and again between 1999 and 2004.

That's according to Hagerty, a Michigan-based classic-car insurance provider. When you apply for auto insurance in the U.S., you give your insurer some essential details in order to help it calculate your risk profile. These usually include information about your car, date of birth, and employment status, among other data — all of which enable it to figure out how likely you are to file a claim.

Based on the data it has collected, Hagerty says 40% and 35% of those asking for insurance on first- and second-gen Lightnings, respectively, are millennials, born between 1981 and 1996. They're joined by the even younger Generation Z (1997-2012), who account for 8% and 7% of SVT Lightning insurance quotes. 

Regarding the values gained, first-gen SVT Lightnings saw the bigger rise. Hagerty's price trends data shows a median #2 (Excellent) example would have cost around $15,000 in 2016. A decade later, it has witnessed unprecedented price increases that currently stand 182.67% higher at $42,400. Median #2 (Excellent) second-gen models, meanwhile, changed hands for $20,000 in 2016. But today prices of like-for-like models have risen to $45,300, which is 126.5% more.

As Ford's first specialized high-performance truck, the F-150 SVT Lightning is steeped in history. But that's hardly the only reason it has become so desirable. Like most used cars, the SVT Lightning was a beneficiary of the COVID boom in used-car prices, and with the electric Lightning coming out in 2022, interest in the SVT pickup surged even more. Much more central to the Lightning's sustained appeal, however, have been its good power, cool design bits such as side pipes, and the fact that it has remained an affordable entry point into the world of collector pickups.

Our own findings indicate that it's entirely possible to pick up a well-cared-for Lightning for under $30,000, as evidenced by a high-mileage 1993 Ford SVT F-150 Lightning that recently sold for a lowly $13,000 at Classic. Seeing as the cost-of-living squeeze has made younger buyers more sensitive to pricing, it's no surprise they're seizing upon something they can actually afford to buy. 

Performance-wise, there's a lot to like, especially in Gen 2 models. Early versions have a 5.4-liter Triton V8 fitted with an intercooled Eaton Gen IV supercharger to produce a decently stout 360 horsepower and 440 pound-feet of torque, sent to the rear wheels via a 4R100 four-speed automatic transmission, aluminum driveshaft, and limited-slip differential with 3.55:1 gears. 

Per a MotorTrend test, a 2000 SVT F-150 Lightning with this engine runs 0-60 in 5.6 seconds and through the quarter-mile in 14.1 seconds. For the 2001-04 SVT Lightnings, Ford boosted output to 380 hp and 450 lb-ft, helping the truck hit 60 mph faster at 5.2 seconds, with the quarter-mile arriving in 13.8 seconds.