I bought a 2005 Ford Expedition XLT 4x4 when they came out and was told by the dealer that my vehicle is only worth $11k now. I purchased it for $28k just 2 years ago. How do I get out of it?
2007-04-10 15:01:39 · 13 answers · asked by Kellie C 1 in Cars & Transportation ➔ Car Makes ➔ Ford
There is a perception that American vehicle brands are not as reliable (long term) as their Japanese counterparts. This is reflected in their lower resale value. Still, 11K sounds low after just two years if it was 28K new. Check out some prices on-line. Remember that the dealer who told you 11K is trying to earn a living and may not be giving you the most honest price.
2007-04-10 15:10:28 · answer #1 · answered by blooz 4 · 2⤊ 1⤋
Poor resale is usually market driven, if demand for 4wds or SUVs has dropped they will be worth less than a standardised valuation. The dealer will offer you less as well because then he has to get rid of it. If the brand/model is known for quality issues or has sold in huge amounts this also lowers the resale as there are more examples available secondhand.
New car prices also have an effect, since it maybe more cost effective to buy a new model. Cars will also lose the majority of their resale in the first couple of years.
2007-04-10 15:09:48 · answer #2 · answered by ollygt 1 · 2⤊ 0⤋
A 2005 Expd XLT 4WD with normal miles is worth 16-20. Something's not right here-either yours is beat up, has super high miles or somethings wrong with it.
And for the 1st poster-ALL vehicles lose value every year!
2007-04-11 15:40:04 · answer #3 · answered by justcurious 6 · 0⤊ 0⤋
its a gas guzzler. not so much as its a ford because I know every mustang that I have owned has kept its resale value. GM has the same problem with their escalades, yukon, tahoe etc because the plant in wisconsin that makes them is alying off people left and right because sales are down on big SUV's. Sell it outright instead of trading it in. the dealer wants to give you low buck so they can resell it for a couple thousand dollar profit on your old vehicle.
2007-04-11 05:21:59 · answer #4 · answered by I race cars 4 · 0⤊ 0⤋
All vehicles loose value going off the lot just by being owned. You didn't say the amount of miles that are on it (average is 12,000 a year... more miles than that is main value killer).. That and what a dealer is willing to give you on trade is always less than if you are willing to sell it on your own.. on the value sometimes of $2000 or more.
The SUVs are getting pounded in value due to gas prices.. that and since it's one of the more popular cars, you'll see a lower price on them due to supply and demand.
Best way to get out of it for most value is private sale..
2007-04-10 15:38:53 · answer #5 · answered by gearbox 7 · 0⤊ 0⤋
The 11k is what they will give you! It is worth a little more but alot of cars lose half their value in the first 2-3 years. You should never buy new, unless you get a Great model year end deal. That is if you care about MONEY!!! They want to resell it and make a profit. Depending on miles, codition, and options, I would say your truck is worth 13-15K
You and mini van owners are in the same boat. They aren't worth dirt!
2007-04-11 08:22:12 · answer #6 · answered by Andrew P 2 · 0⤊ 2⤋
The biggest factor in resale value isn't so much the reliability as to this vehicals desireability. The gas prices are going up, so the resale drops off.
2007-04-10 15:39:46 · answer #7 · answered by amuzicbuff 1 · 1⤊ 0⤋
It may not be because it's a Ford, but because it's a behemoth. Remember, gas has roughly doubled in price since you purchased it.
Gas guzzlers of all makes have lost a lot of value since gas prices shot up.
How come you want to get out of it? It's because gas is so expensive, isn't it? Get in line.
2007-04-10 18:04:27 · answer #8 · answered by Uncle Pennybags 7 · 1⤊ 0⤋
ALL cars, american, german, asian and so forth lose value once you leave the lot, thats why an automotive purchase is not typically seen as an "investment". My best advice for you? Dealerships ALWAYS lowball you on used vehicles...sell it yourself and you should easily get 5-8K more than what the dealership is offering you.
2007-04-11 03:18:15 · answer #9 · answered by guapoapo 1 · 0⤊ 0⤋
i own a shop,and i think the main reason for this is the competition they have and the amount of re-calls they always have on them,what they told you about your truck is probably true,my neighbor bought a new one back in 2003,and he went to trade it in on another new one this year and they offered him 8 thousand for it he got mad,and decided to keep it,and it has very low miles on it,but its been that way for a while now,they just don't seem to be worth anything after a few years,maybe they,ll over come this though and the re-sale value will go back up on them,we can hope anyway ,good luck hope this helps.
2007-04-10 15:09:17 · answer #10 · answered by dodge man 7 · 1⤊ 1⤋