Ford Explorer Value Drop?

[daprez1963]

With gas prices headed ever so high and the talk from Ford on reducing its SUV output since some people are avoiding SUVs (car lots are not selling them like before)....is the value of our SUVs (Ford mainly) dropping alot. I paid 17,000 for mine last year (2005 4wd with 3rd row seating model with 41,000 miles and in excellent shape)...would be a shock if it was only worth half that much now....

 

[Hartman]

A quick search on KBB finds that your truck has a trade-in value of approximately $10,775.

Don't buy American if you care at all about resale value.

 

[Nytroman]

With gas prices headed ever so high and the talk from Ford on reducing its SUV output since some people are avoiding SUVs (car lots are not selling them like before)....is the value of our SUVs (Ford mainly) dropping alot. I paid 17,000 for mine last year (2005 4wd with 3rd row seating model with 41,000 miles and in excellent shape)...would be a shock if it was only worth half that much now....

i Just got my 2004 XLT 4.6 with 3rd row seating, leather, and sunroof with 34,000 miles in excellent shape for 13,000, my dealer said it was a steal because of exactly what you just stated.

 

[Donner]

Always buy American

A quick search on KBB finds that your truck has a trade-in value of approximately $10,775.

Don't buy American if you care at all about resale value.

There are also more Exs available than other SUVs. So there's a glut, plus other manufacturers are making better designs on the newer ones.

$4 a gallon with no top in sight, we'll all be driving Civics soon

 

[Glen4X4]

There are also more Exs available than other SUVs. So there's a glut, plus other manufacturers are making better designs on the newer ones.

$4 a gallon with no top in sight, we'll all be driving Civics soon

Exactly its getting more and more expensive to drive them so people are avoiding driving them which makes people not want to pay anymore than they need to if they need to get one. I was looking in the shopper and seen some nice mounty's cheaper than what they were a couple months ago.

 

[tower]

A quick search on KBB finds that your truck has a trade-in value of approximately $10,775.

Don't buy American if you care at all about resale value.

YA buy a ML because MB really holds there value.

As gas goes up truck/big car sales go down, this is not new happens every time. Prepare for some really crappy cars coming to a dealer near you (circa 1980)

 

[EasyRhino]

YA buy a ML because MB really holds there value.

As gas goes up truck/big car sales go down, this is not new happens every time. Prepare for some really crappy cars coming to a dealer near you (circa 1980)

http://money.cnn.com/galleries/2008/autos/0805/gallery.truck_based_suvs/index.html

(Okay, I am older than dirt): I was buying gas when it was around 35 cents. Actually used to buy Sinclair for lawn mowing summer jobs before driving, for less than 30 cents a gallon. When I first saw gas for 40 cents, I concluded that Texaco was an expensive brand.

Gas prices, adjusted for inflation, have been within a pretty small range since WW II. Everyone panicked and dumped a lot of nice cars in the early to mid 70s when gas took a jump, and availability was limited. I wish I had the sense and resoruces to grab a lot of those cars being dumped at the time.

Now my 2002 Explorer Limited is paid for and the value is dropping - on paper. It does not cost me a penny in depreciation if I do not sell it. Yes, I will probably drive it less. If gas goes to $5/gallon, it will cost me about $67/month more to drive it. Big deal (IMHO). I can buy a lot of gas for a 500-600 car payment.

I am keeping the Explorer until it depreciates to under 5K, until gas goes to about $8/gallon or so, and until we get through the thrown together in response to another gas crisis crap cars. Still makes financial sense.

I say do the long math.

 

[MountaineerGreen]

Higher fuel prices will certainly affect values of larger vehicles negatively and smaller, more fuel efficient vehicles positively.

I've seen far more small cars on the lot at the Ford dealership near my house ever before, they have always been known for truck sales.

 

[Hitchhikingmike]

The horrible resale value is one reason why I bought my 2002 Ford Explorer. Got mine used for a great price. XLS, leather, power all, premium radio, 37k miles for $8,000. I am able to justify the gas prices. With gas so high smaller cars (civics) are keeping their value even better. The low price I got my explorer for sorta makes up for the gas prices. Otherwise if I had got a honda accord, instead of paying for more gas as on my explorer I would have just paid a premium for the economy honda name car.

What do you think?

 

[Blacksheep Josh]

yup. now is definitely the time to buy a truck/suv. gas WILL go down, it's just a matter of time. i look at it like this, the american economy can not keep going the way it is. we have to recover.

i was close to getting a new ranger, but i sat down and figured it out, for the amount i would spend on insurance and car payment and gas in six months, i could completely restore my 93 and even modify it, and still save money.

all a matter on priorities.

 

[Thelt]

I bought my '02 Limited two years ago. It had about 80k and I gave about $12k for it.

 

[daprez1963]

A quick search on KBB finds that your truck has a trade-in value of approximately $10,775.

Don't buy American if you care at all about resale value.

Well actually, I don't ever use my cars/trucks for trade-ins. I sell them in the paper and get alittle more for them. I figure I am the one selling it and took care of it and financed it before, I should be the one getting the most return from my prior investment. That being said...

I figured if I had waited one year (bought it exactly one year ago), the same truck and miles would be around $3000 cheaper. KKB and NADA have not updated fully the current trends with SUVs. Looking at the prices on the trucks in todays market (let alone, the private sells), they have dropped alot. My truck runs great. I can afford the gas at the present levels since I have been able to reduce my fuel use from 120 gallons to 80 a month and still have room to cut it some more. I enjoy the room, use of towing and overall feel of safety with it, that I will keep my SUV over a small compact car.

With the decline of the US dollar and all the recent speculators coming into the oil markets, causing the price spike in oil/gas, it will hopefully change after this lame year in the white house and new president. I use to claim to be a REPUBLICAN, but now I am a shame to have been one since the last eight years have done nothing for me. I don't think I could afford another 4 years of the same.

I don't plan on selling mine. It was more of a statement that I could have save a lot more in buying one now. But if the time came that I had to or wanted to sell mine, it would not return as much as in the past on resell.

 

[Thelt]

Look for gas prices to be high this summer but to drop off a lot this fall before the elections. I am not sure that the president can do a whole lot about gas prices but oil companies want to lessen the heat on themselves before an election.

In the long run we need more domestic oil production and refinery capacity so we are not so dependent on oil from OPEC.

 

[High_Order1]

well....

I don't want to turn this into a Bush bashing thread; because I basically like the guy. If you've ever met him, you'd realize he is like us, and personally I think he thought he could do a good job but then bit off a little more than he could chew.

Plus, the President rarely drives the train. He has a group of people that he trusts that tells him what is going on and what the best recommendations are; THOSE people are the ones that most influence policy.

Anyways, I say all that to say this: a long, long time ago, you didn't have a choice in telephone company. AND, you had to rent your phone from the phone company. I am serial about this.

Well, they started raising prices and making rules like you couldn't hang your own equipment off their lines. So, you know what the government did? Busted the one giant company up into a bunch of little ones. So, I am betting the Pres could threaten a buncha anti-trust and conspiracy investigations against the oil companies. If he wanted.

And don't forget that what is it? 60 cents on every gallon of gas is tax.

But yes, I think we should put a HUGE pipe in alaska and tell opec to go f off. Let them try and find someone else to finance their indoor ski slopes and giant castles for awhile, and I bet the crude prices come down.

Then, I believe we need to do something to the oil businesses. Being a small businessman in transition, I am all for capitalism, and if someone can make a buck, woot on them.

My problem is that there is a line between being The Next Hot Item, and selling water at 20 dollars a gallon to a person whose house is on fire. That's what I think the oil companies are doing, what with their record windfall profits and all.

AND, I am no economist, but I don't buy that "adjusted for inflation" argument either (NO offense to you, Rhino). Something drives inflation. Whatever pushes it up theoretically could push it right back down. Oh yeah, like the US loaning all these places money, then not asking for it back PLUS INTEREST. Or, devaluating the dollar by pumping too many of them out. Or (and y'all can say whatever you want about me) the deal in Myanamar or however you pronounce it. They hate us. HATE us. I realize we don't need to sink to the level of the dirtbags, but I am tired of us propping up our enemies. We've done it forever. Anybody ever heard of the Marshall doctrine?

I wouldn't have a problem dumping all the money into Iraq if I thought there was a cogent plan for us to see a return on our investment.

For the record, I am neither Rep or Dem. I think the two party system has been perverted into Kabuke Democracy; we watch them fight back and forth, while meanwhile no one watches the real issues.

I have no clue who I am going to vote for, I think they all suck. I have never felt more disenfranchised in my life.

[/rant off]

sorry, just needed to vent a little.

-Shawn

 

[shadowless127]

I just bought my 03 mounty last week for $11,400 w/57K and it's fully loaded.

I dont pay for gas during the school year so gas prices don't affect me.

 

[E.B. Cornburner]

$4 a gallon with no top in sight, we'll all be driving Civics soon

They don't get that good of MPG now either! A '89 Buick Park Avenue will get close to the same highway MPG as a new Civic. The cars built 25 years ago as a general whole got better mileage than the newest vehicles on the road. A '89 Geo Metro got 59 MPG, a '81 VW Rabbit diesel got 57, a '88 Honda Civic CRX HF got 61 MPG (all highway EPA numbers). Heck, even a '88 Dodge Shadow got 36, and had enough power to still be fun to drive.

People lots of times think they need an import to get MPG, when that's rarely the case. Check www.fueleconomy.gov Look at the MPG ratings of imports vs. comparable domestics and you're not going to see much difference.

And yes, the main reason why the Explorer doesn't hold its value is because there's so bloody many of them on the road. Supply vs. demand. I don't mind...I bought it because I liked it, not because I was going to use it as an investment. I'll never buy something I hate to drive just because it'll possibly save me money. What's the point of making money if you can't spend it on something you like?

 

[igiveup]

Hello

My wife wants a new car because of the gas prices. All of my cars are paid for. 86 t-bird that gets 26-32 mpg hwy. My B2 dont know yet. Stang gets 18-22 mpg hwy. So for me to buy a new car that gets 30+ mpg is a waist of money at this time. With payment and higher insurance just is not worth it at the time. She will get her new car next summer because I will not have a say in it. Keep the woman happy. But for me it wont make sense to buy until it hits 6-8 bucks a gallon.

igiveup

 

[tower]

They don't get that good of MPG now either! A '89 Buick Park Avenue will get close to the same highway MPG as a new Civic. The cars built 25 years ago as a general whole got better mileage than the newest vehicles on the road. A '89 Geo Metro got 59 MPG, a '81 VW Rabbit diesel got 57, a '88 Honda Civic CRX HF got 61 MPG (all highway EPA numbers). Heck, even a '88 Dodge Shadow got 36, and had enough power to still be fun to drive.

People lots of times think they need an import to get MPG, when that's rarely the case. Check www.fueleconomy.gov Look at the MPG ratings of imports vs. comparable domestics and you're not going to see much difference.

And yes, the main reason why the Explorer doesn't hold its value is because there's so bloody many of them on the road. Supply vs. demand. I don't mind...I bought it because I liked it, not because I was going to use it as an investment. I'll never buy something I hate to drive just because it'll possibly save me money. What's the point of making money if you can't spend it on something you like?

Humm there was no Park Ave in 89 there was the Electra that was dropped in 91 for the Park Ave (the Park Ave name was used from 75-91 as a "top" line Electra). Its not even close gas wise

http://www.fueleconomy.gov/feg/calculatorSelectEngine.jsp?year=1989&make=Buick&model=Electra

http://www.fueleconomy.gov/feg/calculatorCompareSideBySide.jsp?column=1&id=23502

There are move fuel efficient Civic's I picked the auto to make it "fare".

What '88 Dodge Shadow got 36 (even highway)?

http://www.fueleconomy.gov/feg/findacar.htm

Cars get much better MPG now then they ever did.

Yes I am old enough to remember sitting in gas lines in the 70's I also remember gas stations getting new pumps so they could charge over a $1. I also remember the crap cars we had to live with in the 80's.


There are not a lot of US cars on any of these lists.

http://cars.about.com/od/helpforcarbuyers/tp/top10_fuel.htm

http://www.fueleconomy.gov/FEG/bestworst.shtml

http://www.autobytel.com/content/research/top10/index.cfm/action/mileage/vehicleclass/all/listtype/3

http://www.fueleconomy.gov/feg/bestworst.shtml

PS the '88 Honda Civic CRX HF never got 61 (you are about 10 to high, highway) same with all the ones you listed.

 

[tower]

http://money.cnn.com/galleries/2008/autos/0805/gallery.truck_based_suvs/index.html

(Okay, I am older than dirt): I was buying gas when it was around 35 cents. Actually used to buy Sinclair for lawn mowing summer jobs before driving, for less than 30 cents a gallon. When I first saw gas for 40 cents, I concluded that Texaco was an expensive brand.

Gas prices, adjusted for inflation, have been within a pretty small range since WW II. Everyone panicked and dumped a lot of nice cars in the early to mid 70s when gas took a jump, and availability was limited. I wish I had the sense and resoruces to grab a lot of those cars being dumped at the time.

You are older then me I only remember 50 cents.

Same thing is going to happen again (good time to pick up some nice cars)

 

[E.B. Cornburner]

Hello

My wife wants a new car because of the gas prices. All of my cars are paid for. 86 t-bird that gets 26-32 mpg hwy. My B2 dont know yet. Stang gets 18-22 mpg hwy. So for me to buy a new car that gets 30+ mpg is a waist of money at this time. With payment and higher insurance just is not worth it at the time. She will get her new car next summer because I will not have a say in it. Keep the woman happy. But for me it wont make sense to buy until it hits 6-8 bucks a gallon.

igiveup

Figure out how much gasoline a monthly car payment (as well as all the other incurred expenses) will cost, and put that against how much fuel your current car consumes. You'll never be money ahead buying a new car to save gas if the old one is paid for.