Three years ago my husband and I leased a used 97 Ford Explorer. Our lease is up in Oct. and now we are getting notices from the bank asking us to contact them for info on purchasing the truck at the end of the lease. When we leased it back then the price was $22,000. And, it had 33,500 miles on it. It now has roughly 73,000 on it. It has never given us a problem and we have done the usual as far as taking care of it goes (i.e., oil, breaks, tires, etc.). Our lease contract says that the end of lease buy-out price would be $10,500. Which basically means another 3-5 years worth of car payments on a car that is already 6 years old. So, we now have to decide whether or not we want to buy it. We really love, and, like I said, it has been great with no probs. But, since so many of you here seem to already own Fords, what do you think? Would paying three to five more years be worth it? My fear is the engine/transmission going before we even finish paying it off. Typically, how many miles can you usually get on a 97 Explorer? Anyone know? This is the type of info I would like to have before we make our decission. Thanks in advance for the help.

 

For that price check out a new one. With all the incentives at the moment it might be a good choice.

 

We've just gotten so used to this one plus it has no probs. Would hate to have to look around for a new one and deal with all that nonsense. But thanks. Hey, any idea on how many miles these trucks are good for before we'd need a new trans/engine?

 

Please do not post in multiple forums. Your other posts have been removed.

No idea on the miles. With good care a lot. Having one without problems is worth something compared to the unknown problems with a new one.

 

Oh, sorry. Just thought maybe I'd get a better response if I listed it in a few forums that actually pertain to what I'm asking. Sorry.

 

This is the best forum for questions on longevity etc.

Check out the posting guidelines. Cross posting is discouraged.

Guidelines: https://www.ford-trucks.com/guidelines.html

You might want to turn on your email also so other users can contact you. Select "Show email" in the userCP.

 

Thanks for the tips. But, I don't think I'll be back. Didn't know I was causing such problems. Sorry.

 

No problems.

 

Glad you decided to stay. Welcome to FTE! There is a lot of information and help here.

Have fun!

 

If your still reading here our 96 Explorer has 203,000 miles on it and the original trans. In fact we have just started having to look at replacing things like the tensioner (replaced was original) the 02 sensors (original) and the catylitic converter (original) as far as I can tell with good care they will run alot longer than other rigs. A plus for our decision is that all of our county and city officials including our police, fish and wildlife rangers and power company all use fords any of them from the taurus, explorer, ranger and expedition. Good Luck!

 

Yes, I am still reading. Thanks for that info. I appreciate it.

 

Although mine only has about 42,000 miles on it, I can tell you from talking with other owner that they do last well over 100,000 miles. Overall, these are great trucks.

 

If you can tell me what the price of Eastman Kodak stock will be next Thursday, then I can answer your question. I'm not being sarcastic, I'm just trying to make a point: no one can predict the future. For example: I have an '89 Grand Marquis that rarely gives me any trouble, costs next to nothing to keep running. I have a '94 Ranger that has quickly become a money pit; I have invested more in the past 6 months than the entire gross national product of Sri Lanka. Go figure. As to your vehicle, I think the price is just a little high. It's at least worth your while to investigate your options. Don't like dealers? Use the Internet to shop for pricing and availability. Eventually, if you decide not to keep your current vehicle, you'l find someone you feel comfortable with.

 

Oh, I totally understand that no one can predict the longevity of our vehicle. But, if I hear that ten people own the same truck and 8 out of ten have gone beyond 200,000 miles without any real problems, then that tells me something. We have never owned a Ford vehicle in the past so we are really not familiar with them or their life span. But from what we've heard from a few people, even our mechanic, they are very reliable and last very long. Providing you take care of them. We've also never leased before so I was hoping to get some ideas from here from others who maybe have. I only know of one person who leased a truck and they would have gotten shafted had they turned their vehicle over at the end of their lease so they ended up just keeping it which turned out better for them in the end. So, I am just weighing our options and getting some ideas and info from others who may have been in our predicament before. Thanks again everyone.

 

That buyout price of $10,500 seems pretty high. Look in the paper and see what people are selling these for. I see a lot of 97-98 Exp listed for around the $9k mark with 4wd and all the toys.

If you really want to keep the vehicle, I would call the lease company and try to negotiate the buyout price. You may have to talk to a supervisor because the first person you talk to may not be authorized to negotiate. Also, check with your bank and see if they will finance an almost 7 year old vehicle with 73k miles. It may be tough to get a loan with a good rate.