Will this fit if my truck has the factory parking sensors?

This cover is designed without sensor holes, so you'll need to disable or reprogram the sensor system through your vehicle's computer if you want to avoid warning lights. If you need an active sensor setup, you'll have to cut the holes yourself or source a cover with openings pre-drilled.

Does the lower valance connect directly to the bumper cover?

Mounting method isn't specified — test-fit before committing to fasteners or adhesive. Most F-150 covers integrate with the lower valance at the frame, but confirm alignment on your truck first.

What prep is needed before painting?

Standard—clean the surface, sand with appropriate grit for your primer type, and apply your preferred primer and topcoat. Refer to your paint manufacturer's surface prep guide for best adhesion.