The median 2016 F-150 sits at $21,980 in the Canadian market. Most of them land between $19,434 and $25,927, so that band is your reality check. Pay near the bottom and you're doing well. Cross above $26k and you'd want a reason, whether that's ultra-low kilometres or a loaded configuration.
Median mileage on these trucks is 190,302 km. That's a lot of road, and it's the number driving prices down. Each additional 10,000 km knocks about $885 off the asking price. So a truck with 150,000 km carries roughly $3,500 more value on the odometer alone than one sitting at the 190k median. Run that math on any listing before you talk price.
What the trims tell you
The Lariat and the XLT are basically priced on top of each other. Lariat median is $21,980, XLT median is $21,944. Thirty-six dollars apart. On paper the Lariat is the higher trim, but the market isn't charging a premium for it at this age.
The difference shows up in the spread. The XLT clusters tight, from $20,742 to $24,363. The Lariat runs wider, $19,434 all the way to $26,377. That wide bottom end is the interesting part. A Lariat priced in the low $19k range is the same money as a mid-pack XLT, which makes the higher trim the value play if you find one down there.
We've flagged 9 deals on this year in the last 90 days. Use the $885-per-10,000km figure to normalize for mileage, then anchor to the $21,980 median. Anything meaningfully under that with reasonable kilometres is worth a closer look.
Price by trim
| Trim | Median price | Typical range |
|---|---|---|
| Lariat | $21,980 | $19,434–$26,377 |
| XLT | $21,944 | $20,742–$24,363 |
Numbers reflect live listings across Canada over the last 90 days, filtered for outliers. Data as of . Prices in CAD.
Is the 2016 Ford F-150 reliable?
The 2016 Ford F-150 belongs to the 2015-2020 generation. Our 2016 Ford F-150 reliability guide covers the known problems for that generation and what they cost to fix.