Trade In Value - 03 Expy
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Freshman User
Joined: Dec 2004
Posts: 30
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Trade In Value - 03 Expy
Well, I went to look at the 05's and was not too happy when they offerred me $17,000 on a spotless 03 Eddie with 2nd row captains, DVD entertainment, power fold 3rd row and power quarter windows. My 03 is cleaner than their 05! Whats going on here, anyone else have an experience like this?
Senior User
Joined: Dec 2003
Posts: 325
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Yea I agree that's a little low. Two months ago my 2003 4x2 Eddie Bauer w/ 33k miles, 2nd row captains, sunroof plus safety canopy system, 5.4L V8, no DVD, and no power third row had a trade-in value of about $23,000; and that was from my local Ford dealer as I also was looking at an '05. However, after driving the new '05 King Ranch, I was happy to get back into my '03. The '05 King Ranch's rear doors had strange rattles and the extra 40 horses weren't that obvious to me.
Senior User
Joined: Nov 2004
Posts: 320
Likes: 0
From: South Jersey
I bought my 05 EB explorer 6 months ago loaded for 42k, just went to look at a new Lincoln LT and was only offered 25k on a trade in...talk about depreciation, anyone have any opinions on the new Lincoln LT...?
Laughing Gas
Joined: Jan 2003
Posts: 1,082
Likes: 40
From: Melbourne, FL
I think the new LT looks good, but unless you like throwing money away, quit buying brand new. I bought my Expy one year old from a dealership for $15,000 less than the original bill of sale, I know cause it came with the truck. That was a 30% depreciation in sale price, who knows how much the dealership actually paid for it. And looking at the market in my area, it's still depreciating as fast as I'm paying it off. Fortunately when I bought it, I also bought the Premium extended warranty, so I'll get my moneys worth out of this truck.
Elder User
Joined: Mar 2005
Posts: 521
Likes: 1
From: Southern New England
Dealerships want it both ways. Sell you a new vehicle for the highest price they can and give you the lowest price for your trade.
I beat them at their own game. Sell your vehicle using Ebay or Autotrader.com and you will get a fair price for it. Then turn around and use the same sources and find yourself a nice used 2004 or whatever for a fair price.
I recently sold our Windstar and bought a mint 2001 EB Expy and saved over 8000.00 (the difference in what the dealers offered on the same trade).
True, I didn't get a warrantee but if the vehicle is a good vehicle you don't need it.
Just my .02, good luck and stay away from stealerships.
I beat them at their own game. Sell your vehicle using Ebay or Autotrader.com and you will get a fair price for it. Then turn around and use the same sources and find yourself a nice used 2004 or whatever for a fair price.
I recently sold our Windstar and bought a mint 2001 EB Expy and saved over 8000.00 (the difference in what the dealers offered on the same trade).
True, I didn't get a warrantee but if the vehicle is a good vehicle you don't need it.
Just my .02, good luck and stay away from stealerships.
