Looking for a Ford F-150 for about $40,000 presents you with a lot of options. New or Used? Which engine? Which trim level? Below we do our best to lay out some of the best options with $40,000 to spend.
With $40,000 to spend, buyers should be looking for a current-generation F-150, which has been on sale since the 2015 model year. This brings both new and used models into the fold. Opting to go either route presents you with great options — which one is right for you depends on your individual needs. Buying a brand new truck means getting the full balance of the 3-year/36,000-mile and 5-year/60,000-mile basic and powertrain warranties, along with the satisfaction of driving off the lot with that new car smell. That said, buyers wanting to spend $40,000 on a brand new Ford F-150 have limited options in regard to engine, configuration and trim level.
Buying used brings additional options into the equation that cost more than $40,000 when buying brand new. Going the used route means that a truck worth $45,000 or even $50,000 when it was new is now attainable at the $40,000 price point, provided buyers are willing to accept a few years worth of mileage on the odometer and only some or none of that factory warranty.
New or used, the only strong recommendation here is to limit your search to vehicles from the 2015 model year or newer.
If you’re on a budget, we recommend opting for an F-150 equipped with the 5.0-liter V8. While this isn’t the F-150’s most desirable engine — that crown goes to the turbocharged 3.5-liter V6 — the 5.0-liter "Coyote" V8 engine provides ample power and towing capacity while still achieving around 17 miles per gallon in combined city and highway driving — not the greatest, but certainly not terrible. Given that it only gives up around 80 lb-ft of torque to the EcoBoost V6 — still enabling you to tow up to 11,000 pounds — the 5.0-liter V8 presents a good overall value for buyers wanting a great, potent F-150 on a budget.
Configuration & Trim Level
While certain configurations are best suited for certain needs, we can’t help but feel that a four-wheel-drive equipped SuperCrew model, with either the 5.5- or 6.5-foot bed, offers a great balance of passenger capacity, towing capacity and cargo capacity. Going the new route, buyers can only opt for an XL model in this configuration, but will have their choice of any engine while remaining under or within a few hundred dollars of $40,000.
Buyers willing to opt for a used truck have a lot more flexibility. With under 60,000 miles on the odometer and four-wheel drive, SuperCrew F-150s in upper trim levels come into play. Right now on Autotrader, there are close to 800 Lariat, 60 King Ranch and 130 Platinum models listed for under $40,000 with fewer than 60,000 miles on the odometer.
For $40,000, either a new or used F-150 is a great option. Like we mention above, the right answer really comes down to the individual needs of the buyer. That said, buyers can find a brand new base model F-150 with four-wheel drive and the four-door SuperCrew cab with just about any of the available engine options for under $40,000. Buyers looking for more luxury, though, can find some great deals on the used market, with upper trim levels available, under 60,000 miles on the odometer and a price of under $40,000.