Resale value

[Shaggy]

I am a strong believer in US made vehicles. Granted foreign suv's hold their resale value pretty good. But, If I amnot mistaken, Expeditions also hold their resale value. Any thoughts on this?

 

[smo0othride]

I don't know about resale value, but it seems like foreign SUVs have better warranties.

 

[Karl in MN]

Not certain on resale value. My guess is that it is poor short term but maybe long term it may not be too bad. Here is my example:

I have an 03 Expy that I bought in October. It stickered for $45,190. I paid $38,*** after the $1000 rebate. It had less than stellar reliablility the first 4-5 months of ownership and I grew frustrated. I had an acquaintance in the car business "estimate" it's trade-in value for me. Keep in mind that this wasn't for a specific new vehicle, it was just a ballpark figure. He estimated that wholesale it was worth about $31,000. There was no way I was going to eat $7,000 for 5 months of ownership and 6,000 miles so I didn't pursue anything. If he was right I would call that pretty crappy resale value. Thankfully it has been a good vehicle the last 4 months, knock on wood.

 

[BikeRider]

Being in the auto finance business, I can tell you resale on most vehicles are pretty low right now and have been for the last 18 months. You take your biggest hits in the first two years of ownership due to the break down of your amortization schedule in that period being mostly interest. In other words, you don't reduce the balance you owe (principal) as much as you will after 24 months or so. Also, when you get a quote on trade in, you have to consider the tax credit you get when you trade. For example, a 31k trade value is a state that has a 5% vehicle tax, will actually be worth 32,550 off of the bottom line of the car. Lastly, another thing that affects resale values is the location. SUV's maintain there value a little better in areas in which they sell better like here in Texas.

 

[bnvus]

Have to agree with bikerider. While alot of us got the 0% financing, it is starting to affect aftermarket prices. Check Fleabay for 03 Expy prices and see what they are selling for. Prices are terrible. I don't expect to be selling anytime soon...

 

[DAMN_FORD]

Definately better to buy a very new used one. You will save big bucks by finding one with less than 10K miles. You can find 2WD Expeditions like this around. The 4WD ones are tougher to find.

My 03 EB 4WD stickered at 45K, paid 38K, wholesale is now 31K, retail is now 34K after 6 months. Ouch. Hopefully I will build some equity by the time the warranty runs out.

 

[Guest]

Bad Resale Value

We purchased a 2003 EB Expedition in March 2003. Sticker price was $40,***.00. We paid $36,000 on X-plan. Today, 6 months later, the value is $27,000 in "excellent condition." I can find a lot better investment for my money next time.