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I read pages and pages on this forum and others, scoured the internet for pictures and additional information. I thought I would share my experience / what I did, in hopes that it helps someone else with their decision.
I have a 16 F-150 SuperCrew FX4 with 20" wheels. Previously I had a 2006 F-150 SuperCrew 4X4 with 20" wheels. On my new truck, I always felt it looked a little off, walking in front of it never gave me the sense that it was a 4X4, as the hood just seemed low to me. I decided I wanted to level it out some, but I was extremely afraid of going too high in the front and it looking like the front was higher than the rear(no judgments on my part if thats what you are looking for, just not my style). Additionally, I park my truck in my garage every night and I knew I did not want to go too high and not be able to park it inside anymore either, so I had in my head that lifting the rear slightly if the nose did look high was not really an option. I also always thought my tires looked too small, and knew I wanted bigger but had a difficult time determining which size let alone which tires.
I looked at a true suspension leveling or lift kit for the front, but most were either fixed at 2.5, or if they were adjustable it required a spring compressor, something I did not have! After listening to my cousin and a good customer who both had installed spacers, and driving one - that is the route I decided to go with. I very rarely get off road much anymore - I am a Jeep guy at heart, and used to get off road every chance I got, but with a wife, 2 kids, and a fairly stressful job it just doesn't get done much anymore, plus my truck is pretty nice and I would be afraid I would mess something up now-a-days.
My truck actually had right at 1.5" of rake just prior(possibly a little more - I did have the 4 new wheels and a full tank of gas) - My truck came with 275/55R20, but the last set of tires that were on it were 285/55R20. The previous owner had installed Toyo AT2s. But my factory 20" PVD wheels were chipping and peeling.
I found Detroit Wheels and did an exchange program with them. They shipped me a set of wheels they had stripped and re-coated that comes with a 5 year warranty, and then I just slid the old ones into the same boxes and shipped them back.
I ended up installing a 1.5" spacer on the front. I also went with the Cooper AT3 XLT in 285/60R20. My front fender well rose about 2 3/16", my rear fender rose 1 1/16" - so I maintained around a 3/8"+ of rake, and I love the way it looks now.
I finally got it cleaned up late last night - I already got it muddy - I picked up and installed 2 loads of sod and 10 cubic feet of soil over the weekend, and I was in some pretty slick mud where I was picking up the sod. I know it was only 1 time, and I know it was very short - but I was very impressed with the new tires... as I said that mud was super slick, we had a heavy rain over night - I never put it in 4 wheel drive and neither rear wheel spun at all, even starting out on a fairly steep incline.
So far the Coopers are better riding, better handling, and more quiet than the Toyos. I cannot speak on the mileage yet as I have only ran less than 20 gallons through it so far, but at this point I cannot notice much difference, again I have very very limited interstate driving on them yet too, but I expected to loose some mileage due to the lift/level, and also with the new tires being a little taller.
I will post a few more pictures as well as a before and after shot soon - I went the day before to a decent spot I thought I could get a before and after picture, but the next day when I went by there - there was some function and the parking lot was full...