Why are these so cheap now?

[AtTheDriveIn]

Damn guys...

It seems like yesterday that my parents were paying $27,000 for their brand new 1998 Ford Explorer...

..Well actually it seems like an eternity ago lol...But still..

It seems like a decent Mountie/Explorer can be had for $1500 and a "Good Condition" one is only worth $2,500 nowadays....Wow...

I guess I'm just in a reflective, sentimental state. To me these vehicles seem like they'd be worth more than a few thousand bucks? I used to be an old Volvo 240 enthusiast and I remember this same thing happening with 240s a decade ago where if something that cost more than $300 to replace broke, you're just better off buying another one.

Do you guys think that the 1st/2nd gen Mountie/Explorer market has hit rock bottom and will finally appreciate? I'm guessing they're so cheap now due to the oversaturation of them (Explorers are EVERYWHERE here in RI) and there's no demand for them! Damn I mean if I kept the 240s I had a decade ago today, those $1,000 cars are worth $6k now!

I don't see many 1st generation Explorers anymore, and I noticed that this same exact thing happened with the old Ford Broncos (cash for clunkers, etc.) and now a like 1992 Bronco is worth 6 gs lol..

I so wish I had space so I could hoard Mountaineers/Explorers like I did Volvos back in the day lol..


O btw, my Mountie's running and driving a billion times better now. We seem to have met on common ground. I'm slowly fixing her up as I go along here lol. Thanks for the help guys.

 

[Camacorn]

Not sure where a 1992 Bronco is worth $6k at, I just bought a 1996 Bronco in mint condition for $1,300.00

I also purchased my 1993 F150 Flareside for $1,400.00, and my 1995 Flareside Ext. Cab Centurion for $1,600.00

I paid $700.00 for my 1997 Mercury Mountaineer, LOVE it.

 

[Texas97x]

Prices like this are the reason that I don't buy new anymore. My wife will probably still get new vehicles but I will stick with older ones that are better built anyway, in my opinion.

 

[biff9703]

I agree, wholeheartedly! My 97 Ex with the 347 is in pristine condition and I paid 4800 for it 4 years ago with 69k on it then. New vehicles are a waste of money, and they aren't as well built. I bought a 99 Mercedes 5 years ago for 6800, and it cost 73k new! Still as nice as it was in 99. Best riding car I've ever been in, and I own a body shop and drive lots of nearly new high end cars after we fix them.

 

[koda2000]

I agree that the prices have probably hit about rock bottom on the gen II's. I find that most anything that runs and drives is worth around $1200, so paying $1500-$2500'ish for a decent gen II is a no brainer for me. I guess that's why I've bought 5 of them in the past few years. The only reason I can think of as to why they're worth so little (as compared to a Ranger for example) is fuel economy. Now with gas going under $2.00, I'm okay with that. I plan to keep my gen II's on the road as long as possible and will never buy new again (unless I hit the lottery big-time maybe). As for as the gen II's appreciating, maybe when my 3 yr old grandson is in his 30's and starts feeling nostalgic... LOL.

 

[bill06447]

Pretty much ANY 15-20 year old vehicle is in the 1000-2500 range in running condition, it's either usable or it's landfill fodder...not sure what the point is...

Bill

 

[redexplorer5.0]

i have a 1998 explorer V8 AWD bought 3 years ago today with 100K on the clock
i bought it off my co worker for $1200 now i have 133K on it with the help from the Enthusiasts of the forums i can keep this Rig running for a long time
in new york there alot of explorer gen 1 and gen 2 up for sale really cheap
avg around 500 -2000 bucks from descent to mint condition and from non running to great running condition

 

[morbid81]

you gotta consider these vehicles are 15-20+ years old. They had there heyday. Brand new off the showroom there were worth that, but not they have had years of wear and tear on them and many miles. GEN I and II are the way to go they are bullet proof. Ive read of many with 300k+ on these beasts. Wear and Tear and up keep on mechanical also determines it's value. Vehicle now a days are built of plastic and aluminum. My wife drives a 2014 Equinox which is fine for her but Ill stick with my cast iron and steel of the 90's. I feel safer in my X than her car. I hate driving it. Like driving a bubble or spaceship. Plus all the do dads they put in them is just more crap to break. My X is 17 has her quirks but she starts runs, and doesn't complain and gets me to where I need to go.

 

[Meriden]

The wife bought a 4 door V8 Gen II new in '96. A couple of years ago when it flipped 230K she decided that she wanted a new car and reluctantly bought a new Toyota Highlander. The Highlander is wider, has an interior meant for hauling people and not plants, and it came complete with a bunch of features like bluetooth and backup camera that are useless to me. Now the Ex is my dirt bike hauler and bad weather car.

For the most part the truck is in good shape for a 20 year old vehicle with >230K on the clock. I just spent a couple of hours replacing the fuel pump and while I was under the truck spent some time looking at stuff. Seals are leaking on the engine, transmission and rear end. Plastic and rubber parts are starting to show wear. There is a patina on the frame rails that is not structural, but would scare off some buyers.

Then there is the driver's door that needs lot of work. Rear door always closes, but doesn't always actuate the switch. The leather upholstery is in good shape with only two minor damage spots. CD player never worked. Tired hood and rear door struts. A giant hole I just cut to replace the fuel pump... I could go on.

I'm new here and joined to keep the old Ex running because I see a value in her. Most guys on forums like this have tools and aren't afraid to use them. The average car buyer - no so. They just want transportation and paying $1500 for a twenty year old car just means repair bills in the not so distant future. I wish the Ex was going to be a collector car someday, but I won't live to see it.

Tom Bodet, the Motel 6 spokesman once wrote: "Why did they quit making the 1964 Chevy pickup? There was nothing wrong with it." I feel the same way about our Ex. If they still made them we would have bought one for the same price as the Highlander, even without the Bluetooth.

m

 

[koda2000]

As far as the question "will these trucks ever appreciate in value" that's impossible to know. I used to be into classic cars, what the hell makes a 1957 Chevy worth $100,000? I wouldn't pay more than $25k for the most perfect, most desirable '57 Chevy in the world (not that I'd even want one) but a few years ago it was not uncommon for them selling for $100k-$120k. Who would ever think that 70's Ford Bronco's would ever be worth $20k-$30k? Maybe some day people will want to restore Gen II Explores, you never know, but most of us won't live to see it.

 

[penske2584]

I am seeing a direct connection in the midwest of car prices to fuel prices. Suv's will increase in value now that we have under $2/gal for unleaded. I can find Saturn sedans with 44k mi to 70k miles around $2400 to $1500. Last year they were over $6k with 44k mi easily sold daily when fuel peaked over $4/gal.

Suv's have almost doubled $$ in the last two weeks around here. Spring & Summer will bring many road trips for many people I believe. Tax season has begun. I hope to get $2k for my 96 Explorer AWD 5.0V8 but will settle for a bit less. I found a 2004 GMC Envoy 5.3 4x4 for $3,300 ttl that I am switching to asap.

 

[koda2000]

what's pissing me off is now the gas prices are down the state and federal government is talking about raising the tax on fuel, and not by just a few cents. then the gas prices will go back up (because who the hell knows what/who actually controls the price) and we'll really be screwed. crap, the stinking government hates to see us get a break! that's probably the reason that the prices are down right now.

 

[AtTheDriveIn]

I agree that the prices have probably hit about rock bottom on the gen II's. I find that most anything that runs and drives is worth around $1200, so paying $1500-$2500'ish for a decent gen II is a no brainer for me. I guess that's why I've bought 5 of them in the past few years. The only reason I can think of as to why they're worth so little (as compared to a Ranger for example) is fuel economy. Now with gas going under $2.00, I'm okay with that. I plan to keep my gen II's on the road as long as possible and will never buy new again (unless I hit the lottery big-time maybe). As for as the gen II's appreciating, maybe when my 3 yr old grandson is in his 30's and starts feeling nostalgic... LOL.

You'd be surprised lol...

1st gen Broncos go for a crapton of money and I remember when people couldn't give those things away.

Yeah $2.00 a gallon gas does make it a lot easier owning a 5.0L that only gets about 220 miles to a full tank lol

 

[Al Rapp]

It's all about the price of gas. I have a beautiful 96 Eddie 5.0 AWD. Very clean & very well maintained. Super solid motor, paint, & body. 148,000 mil. new brakes,rotors,EGR, radiator,tires,battery,fully tuned, runs like a top & burns/leaks no oil. Last yr. I couldnt even get $2,000 for it now I'm turning away offers because I'm so attached to it.

 

[meyek91974]

I'm in Louisville KY where they're built & THEY ARE EVERYWHERE AND CHEAP$

If you're near Lou and need a GREAT deal on transportation, the Explorer is your answer! They can be found on craigslist for as low as 300, 500, 1000, and so on. People will cList it for 300 to offer it before they scrap it. So, the engine might go, or the tranny... whatever. The family grocery getter that's really CLEAN is cheap.

I've not had the need when I see one so cheap and dont have the place to park extra vehicles, but my last Explorer was on craigslist by a used dealer who wanted $2,800 and I got it for $1,300 cash! 4dr, 4wheel drive and all. THEN I drove it a few years, did some upgrades along the way (it sat on 35"s) - only sold it to get a newer ride

HEY if you read this and are in Lou, shoot me a msg

 

[koda2000]

If you're near Lou and need a GREAT deal on transportation, the Explorer is your answer! They can be found on craigslist for as low as 300, 500, 1000, and so on. People will cList it for 300 to offer it before they scrap it. So, the engine might go, or the tranny... whatever. The family grocery getter that's really CLEAN is cheap.

I've not had the need when I see one so cheap and dont have the place to park extra vehicles, but my last Explorer was on craigslist by a used dealer who wanted $2,800 and I got it for $1,300 cash! 4dr, 4wheel drive and all. THEN I drove it a few years, did some upgrades along the way (it sat on 35"s) - only sold it to get a newer ride

HEY if you read this and are in Lou, shoot me a msg

here's a great example, if I wasn't already long on gen II's i'd have to go look at this one. it appears to be a great shape with low miles for a '97. I bet I could easily get it for a grand, maybe less.

http://macon.craigslist.org/cto/4864256668.html

 

[PAExplorerXLT]

These old trucks eventually succumb to incurable ills or fixes that are simply not worth it. If you or your mechanic can’t figure out why that pesky check engine light is on, come inspection time you got a problem. And if you think the engine code is going to point you to exactly where the problem is you’d be wrong.

 

[meyek91974]

Buy Autozone lifetime warranty parts as you go. Then u don't pay for part again

my going idea is to buy Autozone lifetime warranty parts and keep track of the warranty. Eventually, if something breaks again that part won't have to be bought again.

 

[koda2000]

my going idea is to buy Autozone lifetime warranty parts and keep track of the warranty. Eventually, if something breaks again that part won't have to be bought again.

just remember what phone number you put the warranties under, because their thermal paper receipts fade away pretty quickly. another tip is to always buy the replacement part first, then return the defective part afterwards. that keeps your "lifetime warranty" intact.

 

[PAExplorerXLT]

Good idea but in an old truck everyday something different breaks.