Resale Value

[Superfueler]

OK this is kind of a complex question, hopefully I can word it so it is understandable.

I own a 2003 Ford Escape. I'm looking to trade it for a Nissan Frontier. I talked with a dealer a while back, and they were going to give me $8500 for the trade in, and I currently owe about $6300 on it. My payments are $334 a month. Right now its running well, but there is some work that needs to be done to it, and from what I've read on the internet I don't feel like this vehicle is built to last (google CD4E). It needs new sway bars, it has a minor oil leak, and just last night I started hearing a new sound that is either a CV joint or wheel bearings. I had some tranny issues a while back that were solved with a flush, but I don't have much faith. It has about 62,000 miles.

My question is this. Is there any way to figure out how much it will be worth, say 6 months from now? What will drop faster, the amount I owe on it, or the car's value? Should I try to get rid of it now, do the needed repairs, or ride it out a few months longer?

I hope I got my point across without making it too confusing!

My goal in all of this is to have a vehicle that will last me a long time, and that I don't have to start dumping money into before its paid off. Obviously I need to buy something that will keep my payments around the same amount per month, or else it wouldn't be worth it.

[elsolo]

It needs new sway bars

I find that hard to believe, they are not at all a wear item so unless you crashed the car and bent up the suspension horribly.

I could understand new "sway bar bushings" or "end links" but new sway bars?

[Superfueler]

Originally posted by elsolo
I find that hard to believe, they are not at all a wear item so unless you crashed the car and bent up the suspension horribly.

I could understand new "sway bar bushings" or "end links" but new sway bars?

Yeah, bushings, sorry. I'm not much of a gear head.

[FoxMustang]

You could use www.kbb.com to estimate the value of your vehicle, then the value of a 2002 Escape (with about 78,000 miles) and see how much of a price difference there is.

It's hard to estimate a trade-in value since it's all a numbers shell game at the dealer anyway.

[Rob96]

The sad thing with American cars is that SO MANY are sold (becasue of lower prices compared to foreign) that they just don't retain resale value. Case in point. In 1995 I bought a new, 95 Dodge Stratus. Sticker was $20,000. After numerous problems and recalls I traded it at the end of the warranty. I got $7200 for it, and it was 3yrs old with 17,000 miles. I won't buy American cars anymore.

[walkin' trails]

I started checking the BB regularly for my 03 Expedition beginning last spring when it had around 35K and gas was starting to go thru the roof. Seemed like its rate of depreciation increased dramatically when gas got to three bucks a gallon.

Things will change when Ford or GM figure out how to build a better car than Toyota or Honda can. Problem is that it will take five years from the date the first model hits the showroom floor to show that.

[Toxie]

GM does. It's called a cadillac. It was rated 2nd (behind lexus) for long term reliability (3yr +). Honda wasnt even in the top 5.