Resell Value

[phareous]

I just saw Edmunds released their list of highest resell values and Explorer isn't on there:
http://www.edmunds.com/car-reviews/...w=may2012+main+story&mktid=nl61539458&msite=w

I've owned Honda all my life and never worried about resell value. I just ordered a 2013 Explorer Limited and am curious what the resell value is going to be. I plan to keep it at least 8 years but who knows. I think all the problems they had in 2011 Explorers isn't going to help the 2012's and 2013's. Any opinions?

 

[Blee1099]

Well locally a dealer is selling a 2011 limited with 1,000 miles for little over $37,000

 

[peterk9]

I just saw Edmunds released their list of highest resell values and Explorer isn't on there:
http://www.edmunds.com/car-reviews/...w=may2012+main+story&mktid=nl61539458&msite=w

I've owned Honda all my life and never worried about resell value. I just ordered a 2013 Explorer Limited and am curious what the resell value is going to be. I plan to keep it at least 8 years but who knows. I think all the problems they had in 2011 Explorers isn't going to help the 2012's and 2013's. Any opinions?

For what's worth, my 2011 is leased for 48 months. Vehicle cost was around $50,300. Residual was calculated at around $19,100 based on an annual mileage of 60,000.
I have had it now for 14 months and have only 5,700 miles on it. Given the current driving pattern, I'll likely have only about 20,000 miles on it in 4 years.
At my last oil change a couple of weeks ago, the salesman figured it would be worth well over $20K when the lease expires. Of course the actual value will all depend on the market place.

Peter

 

[phareous]

Dang 50k down to 20k is a pretty big drop in 4 years...is that typical for all cars? I've been out of the market since my last car (2003)

 

[peterk9]

Dang 50k down to 20k is a pretty big drop in 4 years...is that typical for all cars? I've been out of the market since my last car (2003)

My '09 Toyota Highlander was just over $48K and residual after 48 months was just under $17K. I had someone take over the 2 1/2 years left on that lease when I got the Explorer.

Peter

 

[spitfisher]

Right now there is not a lot used cars n the market, so I rec'd a lot for my used honda ridgeline which allowed me to buy the explorer. Unless you have a BMW, acura, honda, toyota etc, don't expect a lot for the explorer after 4 years- its just the nature of the beast right now and just about impossible to predict with a new explorer. As nice as the car is it will take awhile before the preception changes to allow for better resale value.