Mercury Mountaineer / Ford Explorer Deprecation

[Xan]

So as i found out with my 2001 merc mountaineer its pretty low
i bought mine for $8400 with 81000 miles and now 2 1/2 years later and with 106000 on the clock its still worth $7865. Thats a lost of $535 not that bad in my oppion

So i was look at some V6 explorers and wondering how they fair in the price game?

 

[shadowless127]

V6s suffer about the same price loss.

I wish they would depreciate more so I could pick up an 00 or 01 mounty/x 5.0 for a bit cheaper lol.

 

[Nocturnall]

Depends on if you go by KBB or NADA. When I totaled my other 97 I bought it for 4k with a lot of problems, NADA'ed at $7600. Totaled it 50 days after buying it and it wasn't even worth the $4k I paid, or so the insurance company said. That was going by KBB, NADA, and fair market.

 

[Xan]

Depends on if you go by KBB or NADA. When I totaled my other 97 I bought it for 4k with a lot of problems, NADA'ed at $7600. Totaled it 50 days after buying it and it wasn't even worth the $4k I paid, or so the insurance company said. That was going by KBB, NADA, and fair market.

Insurance companies do not use kbb or nada, they take the estimated condition of your vehicle... you can tell alot by the other side, the interior, and they can tell if it was in an accident before they are pros at this stuff. Then they use another company to determine what your vehicle of similar condition and mileage are selling for. Think about it, would you actually buy a car at kbb or nada price? if you did i'd laugh at you.

nada ussaly assumes a good-excelent condition btw, when a vechile has problems its not worth the nada price. In other words something is only worth what someone will pay for it.

 

[Nocturnall]

They said first they were going by KBB and said my truck was worth $3k. I argued, then they said they would use fair market basically what it would cost to buy my truck again, even lower number. Then Nada and I argued them up to just barely cover the loan on it. Like I said when I bought it the dealer said it was worth $6,700 and I bought it for $4k with it needing A LOT of work. Full tune up, filters, sea foamed, door locks, some electrical was screwed up, new cats and muffler....

 

[Xan]

They said first they were going by KBB and said my truck was worth $3k. I argued, then they said they would use fair market basically what it would cost to buy my truck again, even lower number. Then Nada and I argued them up to just barely cover the loan on it. Like I said when I bought it the dealer said it was worth $6,700 and I bought it for $4k with it needing A LOT of work. Full tune up, filters, sea foamed, door locks, some electrical was screwed up, new cats and muffler....

Well i will assure you right now that car dealers lie, they lie, and they lie some more.
What insurance company was this? theres some shady insurance companies out there, thats why you should pay a little more and use a good one.

 

[Nocturnall]

Oh I know the dealerships lie, it's what they do. I had Geico because every other big name insurance company wanted $5k+ a year to insure me. I argued with Geico for over a month to get them to just cover the loan.

 

[Xan]

Oh I know the dealerships lie, it's what they do. I had Geico because every other big name insurance company wanted $5k+ a year to insure me. I argued with Geico for over a month to get them to just cover the loan.

Geeze what do you got on your record?

 

[Nocturnall]

3 speeding tickets, 2 for 50 in a 30 and one for 96 in a 65.. I've been rear ended stopped at a toll booth and got backed into while I was driving through a parking lot. That was it at the time. Now I have the accident for that truck and a speeding ticket in AZ to add. The 3 tickets were a 1 yr old, 2 yrs, then 3+ for the 96+mph.

 

[Xan]

3 speeding tickets, 2 for 50 in a 30 and one for 96 in a 65.. I've been rear ended stopped at a toll booth and got backed into while I was driving through a parking lot. That was it at the time. Now I have the accident for that truck and a speeding ticket in AZ to add. The 3 tickets were a 1 yr old, 2 yrs, then 3+ for the 96+mph.

Oh so you're high risk

 

[Turdle]

Yeah, there is a scam in the insurance industry-
they tell you because of the options on your car it is more expensive to insure, because it is more expensive to fix. They never ask mileage at that time.
However-when it comes time to total it-mileage may depreciate the value to lower than half what you owe on the loan.

So,
One person with a 30k mile truck will get it repaired or replaced,while another with a 130k mile truck gets hlaf the loan repaid.
They both pay the same premuim.

 

[Xan]

Yeah, there is a scam in the insurance industry-
they tell you because of the options on your car it is more expensive to insure, because it is more expensive to fix. They never ask mileage at that time.
However-when it comes time to total it-mileage may depreciate the value to lower than half what you owe on the loan.

So,
One person with a 30k mile truck will get it repaired or replaced,while another with a 130k mile truck gets hlaf the loan repaid.
They both pay the same premuim.

hmm i go through allstate and they ask for mileage. As you can see i'm actualy not getting screwed over by my company.
Truth actually have it, you don't have to have them insure it for what they think its worth at the time. If you get someone that is lienced to appraise your vehicle you can get it insured for that amount. There’s loop holes in every system, you just gotta know them and know the right people.

 

[Nocturnall]

Yea I didn't think that stuff was that bad though, I mean the tickets yea but I only had 2 accidents that weren't my fault at the time. I hate the whole insurance game. They take so much of your money and give so very little back when the time comes.

 

[Xan]

Yea I didn't think that stuff was that bad though, I mean the tickets yea but I only had 2 accidents that weren't my fault at the time. I hate the whole insurance game. They take so much of your money and give so very little back when the time comes.

Yeah, but think about what happens if you hit someone really bad and kill them or the other way around. Do you think you can pay for all the cost that come along with that? The rule is there for that kind of thing and it happens many times a year

 

[Nocturnall]

Oh I know. It's just annoying to pay out a few grand a year for a few years, then your vehicle get's totaled and they don't even pay what it's worth.

 

[beenwrong2002]

most dealerships dont go by the KBB they go by NADA

 

[Xan]

most dealerships dont go by the KBB they go by NADA

Most go by the one thats higher to make thier price look the best

 

[beenwrong2002]

Most go by the one thats higher to make thier price look the best

KBB is based on a smaller portion of the US, more concentrated on the North West portion of the used car industry, therefore it would lead to a less accurate value of the vehicle in places like texas where I am
Where NADA takes in to account national sales reports and can produce a better estimated value of the vehicle...but yes at the time for a good screwing of the customer, dealerships could use which ever helps them produce a bigger front end profit