Ford appears to have improved the total cost of ownership (TCO) of the F-150 with its 2015 model-year rework for fleets who own the truck for at least four years, according to a Vincentric forecast.
Fleets who own the 2015 F-150 for three years may see a slight increase in total costs, but fleets who hang on to the truck for four or five years should realize a cost savings over the 2014 model. The savings in fuel costs over the longer time frame outweigh projected slight increases in depreciation, fees and taxes, insurance, financing, maintenance, and repairs.
Vincentric analyzed the ownership costs over five years and 100,000 miles and compared national average fuel prices in February of 2014 ($3.295 per gallon) with February of 2015 ($2.34). Vincentric compared the regular car, extended cab and crew cab models in rear-wheel drive in the XL trim level.
After three years, the 2014 F-150 regular cab with the 3.7L V-6 shows a total fleet ownership cost of $30,678 compared to the 2015 model with the 3.5L V-6, which has a forecasted cost of $31,268. After four years, the 2014 model projects a total lifecycle cost of $39,360, while the 2015 model would cost $38,482.
For the five-year time frame, the 2015 F-150 shows a slightly higher cost of ownership in many of the caregories but significantly outperforms the 2014 model in fuel costs, according to Vincentric.
Costs for the 2015 model over the five years include $18,048 for depreciation, $1,862 for fees and taxes, $12,400 for fuel, $4,972 for insurance, $1,605 for insurance, $6,867 for maintenance, $355 for opportunity cost, and $2,202 for repairs.
The 2014 base model F-150 has costs such as $15,254 for depreciation, $1,728 for fees and taxes, $18,665 for fuel, $4,968 for insurance, $1,246 for financing, $5,848 for maintenance, $590 for opportunity cost, and $2,175 for repairs.
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