Resale value

[JenKley]

I paid $26,000 for my Ford Edge SE last year July. I was thinking of trading it, only to find out that's it's only worth around $18,500 It's in excellent condition with only 9200miles on the clock, with upgraded CD and parking sensors. It's lost $1000 in value per month!!

So why the bad trade? This is my first Ford, and I enjoy the car.....but jeez...... my Mazda and Suzuki didn't devalue this much so quickly???

[bbf2530]

I paid $26,000 for my Ford Edge SE last year July. I was thinking of trading it, only to find out that's it's only worth around $18,500 It's in excellent condition with only 9200miles on the clock, with upgraded CD and parking sensors. It's lost $1000 in value per month!!

So why the bad trade? This is my first Ford, and I enjoy the car.....but jeez...... my Mazda and Suzuki didn't devalue this much so quickly???

 

Hi JenKley. :D You are making a mistake that many people unfortunately make. You are discussing "Trading-in" your vehicle to the Dealer.

 

People need to understand that a Dealership is in business to make money, not give you the most money for your Trade. The Dealer wants to make a profit on the new car sale, and on your Trade-in, and they will. That profit comes out of your pocket.

 

If you want to get the most for your money, go to a site like LINK: Kelly Blue Book and work up the value of your Edge for a "Private Sale" (just to show you how much you are ripped off in a trade, also work up the Trade-in value, and compare them to what the Dealer is offering).

 

EDIT - Just quickly, I worked up the Private Party Sale value (in my ZIP Code, since I don't know where you are located) of a 2007 Edge SE, with no other options than an upgraded CD changer & Parking Sensors. The "Private Party" Sale value, in "Excellent Condition" is $20,985. As an FYI, the KBB "Trade-in" value (also in "Excellent Condition") would be $18,200. This gives you a general idea as to how much a Dealer will rob you on a Trade-in.

 

Use the "Private Sale" value as a baseline to determine how much you want to ask for it in a Private Sale.

 

Then clean up your used vehicle and put "For Sale" signs on it.

 

Trading-in may be the easy way to do things, but the poor value you receive is the price you pay for the easy way out.

 

I have always sold my used cars privately, and have never traded in a vehicle to the Dealer. I have always made a minimum of $2,500 more than the Dealer was willing to give me on the trades, even after factoring in any Sales Tax hit. I usually made a considerable amount more. However, I also keep my cars in excellent condition, and that also makes a big difference.

 

If you would like more information on how to sell your vehicle on your own, feel free to ask.

 

Good luck. :beerchug:

 

PS - Just in case it is not obvious, if a seller can not find a private buyer, they can still trade their used vehicle into the Dealer for the same trade-in price originally agreed to. It's a no lose proposition.

Edited March 27, 2008 by bbf2530

[Phoenix]

Reverse sensors are standard on 2007 SEL and SEL+, fwiw.

[bbf2530]

Reverse sensors are standard on 2007 SEL and SEL+, fwiw.

 

Thanks for the information Phoenix. :beerchug: I corrected my pricing estimates.

[Hardhawk]

I have always sold my used cars privately, and have never traded in a vehicle to the Dealer. I have always made a minimum of $2,500 more than the Dealer was willing to give me on the trades, even after subtracting the loss of the Sales Tax deduction. I usually made a considerable amount more. However, I also keep my cars in excellent condition, and that also makes a big difference.

 

I have done the same thing as you, but I always handle my private sale by running it through the dealership that I buy the new car from so that they can treat it as a trade in and I then also save the sales tax amount on the value I sold the old car for. With my sales tax at 8.3% that adds up fast. I make handling the old car that way a condition of the new car purchase and have found that the dealer is always willing to do it that way to make the sale on the new car. The buyer of the old car pays exactly the same as if it buying it directly from me.

[Phoenix]

Your dealer is full of crap.

 

In a city of 3.5 million, there's only 20 used Edges to be had in Phoenix, no dealer has more than 2, most dealers have none. Two are being sold privately. Lowest priced is in the low 18s with no options other than AWD and 22k miles.

 

I was looking for several weeks for a used one. The only one that met my criteria (light paint, light intererior, AWD and BAMR) was gone in a day.

 

 

http://www.cars.com/go/search/search_resul...amp;aff=azcentr

[bulldog]

my local dealer had an 07 sel+awd and wanted 29,800 w/ 13,000miles. and wouldn't budge. and would only give me $8K for my trade.

 

went elsewhere.

 

also had an SE pretty plain for 25,900. had it at 27,900 but didn't have any interest at that price.

[Grey]

Reverse sensors are standard on 2007 SEL and SEL+, fwiw.

 

Not in Atlanta - my reverse sensors were $245 on my 1997 SEL. It was not even included in the $1,555 Premium package.

 

Back to the topic - if you don't plan on keeping your vehicles for over two to three years, then you should buy F150's - very low depreciation in the first 12 months.

[jimbobber927]

Not in Atlanta - my reverse sensors were $245 on my 1997 SEL. It was not even included in the $1,555 Premium package.

 

Back to the topic - if you don't plan on keeping your vehicles for over two to three years, then you should buy F150's - very low depreciation in the first 12 months.

 

 

I concur. The 2007 SEL we just bought had reverse sensing as an option. It was not standard on the SEL.

[CreamEDGE.]

I just saw an Orange SEL+ with Vista roof for 22K, depressing.

[droth33]

Sorry, but anybody buying a new car as an "investment" is setting themselves up for disappointment. If you buy a new car, don't even look at the value or think about selling it for 3 or 4 years.

 

Even after 3 or 4 years, your heart will be broken..........

[CreamEDGE.]

Yeah but a car shouldn't lose 10,000 dollars after 1 year, that's crazy to even accept such a thing.

 

If I wanted to sell my CX-7 tomorrow it would have only lost me about 3K.

[bbf2530]

EDITED - Nevermind. Removed this information, and decided to tap out instead. :rolleyes:

Edited March 29, 2008 by bbf2530

[CreamEDGE.]

As they say, get kelly to write the check, most SE EDGE's are going (dealer retail) for what kelly think's is trade in.

Edited March 29, 2008 by CreamEDGE.

[tiaquessa]

I thought the Edge was supposed to have an approx. 50% resale value after 3 years. Is this going to still hold true?

[bbf2530]

I thought the Edge was supposed to have an approx. 50% resale value after 3 years. Is this going to still hold true?

 

Hi tiaquessa. :D Let me start off by saying that I respect every member of this forum (and any other), as long as they also treat myself and others with respect.

 

Having said that, in all honesty you should not worry very much about what is posted here concerning pricing, by me or anyone else. This is not the place to get accurate pricing reports. We are a bunch of amateurs! :yup:

 

Always be wary of those who tell you that "All of the Professionals are wrong and I am right!" A little research will show you that Professional opinion strongly varies from some of what has been posted here concerning pricing.

 

Also, to put things in perspective, and with all due respect to members of this or any forum, a public forum full of non-professional advice (including my own) is not the place to get answers to questions like yours. There are sites out there that provide professional information, not tainted by personal bias or misinformation.

 

Sites like these are good for certain things, not good for others.

 

In a public forum like this, you will get some good advice, some bad advice (often well intentioned but still bad) and just some plain mean spirited advice. Some people will give an honest opinion, others sometimes have an ax to grind.

 

This post of mine is not aimed at anyone in particular, so no one should feel that it is directed at them personally. I would ask everyone to please keep that in mind before they feel the need to come back and attack me, as I hope they would first realize that they are pointing the finger at themselves by doing so.

 

Again, all I am saying is that any information provided here, by me or anyone else, should be taken with a grain of salt. After all, it is free information, and like they say, "You get what you pay for".

 

Good luck to all. :beerchug:

Edited March 29, 2008 by bbf2530

[JenKley]

Hi JenKley. :D You are making a mistake that many people unfortunately make. You are discussing "Trading-in" your vehicle to the Dealer.

 

People need to understand that a Dealership is in business to make money, not give you the most money for your Trade. The Dealer wants to make a profit on the new car sale, and on your Trade-in, and they will. That profit comes out of your pocket.

 

If you want to get the most for your money, go to a site like LINK: Kelly Blue Book and work up the value of your Edge for a "Private Sale" (just to show you how much you are ripped off in a trade, also work up the Trade-in value, and compare them to what the Dealer is offering).

 

EDIT - Just quickly, I worked up the Private Party Sale value (in my ZIP Code, since I don't know where you are located) of a 2007 Edge SE, with no other options than an upgraded CD changer & Parking Sensors. The "Private Party" Sale value, in "Excellent Condition" is $20,985. As an FYI, the KBB "Trade-in" value (also in "Excellent Condition") would be $18,200. This gives you a general idea as to how much a Dealer will rob you on a Trade-in.

 

Use the "Private Sale" value as a baseline to determine how much you want to ask for it in a Private Sale.

 

Then clean up your used vehicle and put "For Sale" signs on it.

 

Trading-in may be the easy way to do things, but the poor value you receive is the price you pay for the easy way out.

 

I have always sold my used cars privately, and have never traded in a vehicle to the Dealer. I have always made a minimum of $2,500 more than the Dealer was willing to give me on the trades, even after factoring in any Sales Tax hit. I usually made a considerable amount more. However, I also keep my cars in excellent condition, and that also makes a big difference.

 

If you would like more information on how to sell your vehicle on your own, feel free to ask.

 

Good luck. :beerchug:

 

PS - Just in case it is not obvious, if a seller can not find a private buyer, they can still trade their used vehicle into the Dealer for the same trade-in price originally agreed to. It's a no lose proposition.

 

I decided to keep the Edge, sold my Jeep and bought my daughter the 2008 Ford Focus.

Don't get me wrong, I like my Ford Edge very much, however it's was a juggling thing, we did not want my daughter to start driving a 265hp car that's why we tried to trade the Edge for something else. Initially we thought the Jeep would be great for her, but it was so big and high, she could hardly see out. So the Jeep's to big and the Edge's to fast ??...... that's what started the ball rolling. Living in Florida, we used the Jeep to the beach and fun driving, so we really did not want to get rid of it. After finding out about the trade price of the Edge, we decided to trade our beloved Jeep instead. (we will get another one sometime) Got an excellent trade price for the.. 2004 Wrangler with premium wheels, and quiet a lot of little extras. The trade did not cost us a cent, we got a $2000 check back from the dealer....now that's a deal!! At the end of the day, my daughter loves her Focus SE Coupe, we keep the Edge, and have our motorcycles as extra transport if needed. We drove the Focus yesterday from Palm Beach (FL) down to Fort Lauderdale and averaged 32.6mpg with only 5 miles driven on the interstate the rest was local traffic light to traffic light driving. WOW!! I am impressed...

[bbf2530]

I decided to keep the Edge, sold my Jeep and bought my daughter the 2008 Ford Focus.

Don't get me wrong, I like my Ford Edge very much, however it's was a juggling thing, we did not want my daughter to start driving a 265hp car that's why we tried to trade the Edge for something else. Initially we thought the Jeep would be great for her, but it was so big and high, she could hardly see out. So the Jeep's to big and the Edge's to fast ??...... that's what started the ball rolling. Living in Florida, we used the Jeep to the beach and fun driving, so we really did not want to get rid of it. After finding out about the trade price of the Edge, we decided to trade our beloved Jeep instead. (we will get another one sometime) Got an excellent trade price for the.. 2004 Wrangler with premium wheels, and quiet a lot of little extras. The trade did not cost us a cent, we got a $2000 check back from the dealer....now that's a deal!! At the end of the day, my daughter loves her Focus SE Coupe, we keep the Edge, and have our motorcycles as extra transport if needed. We drove the Focus yesterday from Palm Beach (FL) down to Fort Lauderdale and averaged 32.6mpg with only 5 miles driven on the interstate the rest was local traffic light to traffic light driving. WOW!! I am impressed...

 

Hi JenKley. :D Glad it all worked out in the end. Best of luck with the new Focus.

 

Good luck! :beerchug:

[Grey]

I looked back at the notes I took when buying the Edge (2007) and Ford Credit assumed thast the resale value would be 60% of MSRP after 24 months, 50% after 36 months and 42% after 48 months.

 

Assuming you bought an Edge that has an MSRP of $30,000 for $27,000, you should assume it would be worth about $18,000 (dealer trade-in) after 2 years. $12,000 depreciation from MSRP or $9,000 from your acquisition price. The next year it loses $3,000 and the year after $2,400.

 

Thus, the expected deprecistion cost per year after:

2 years = $4,500 /year

3 years = $4,000 /year

4 years = $3,800 /year

 

That is about as good as it gets for any Ford product. And if you can sell it yourself at market prices instead of wholesale trade-in, your cost per year is even less.

[2000GT]

Reverse sensors are standard on 2007 SEL and SEL+, fwiw.

 

No, they are not. I have a 2007 SEL+ and they are not on the vehicle.

[jpark]

No, they are not. I have a 2007 SEL+ and they are not on the vehicle.

Same here. I have a fully-loaded SEL +, and reverse sensing is listed on the sticker as an option.

 

[blazin_edge]

Same here. I have a fully-loaded SEL +, and reverse sensing is listed on the sticker as an option.

 

 

 

Mine is a 2007 SEL, no sensors.

 

As for value, I expected the Edge to hold better than a V6/GT mustang. I was wrong again. I love Ford and a straight Ford man, but this will probably be my last new Ford. I would like to keep some money in my pocket over time. I am a huge drag racer and will only use mustangs, but other than that, import will be my next purchase for new if I get tired of the Edge. The only car I bought and had good luck with was a 04 Mach 1. If it isn;t a special edition vehicle, don't buy it. I lost $9K in 8 months on a V6 mustang convertible.

[DJ Nap]

I bought an 07 SEL+ with all options minus the Nav and DVD headrests for 22,900. 13K miles. Blazing Copper...kbb on this was 25K and sticker in window was 30,900....the 22,9 was "the internet price". I didn't complain.

[akirby]

I would like to keep some money in my pocket over time.

 

Then keep your Edge for 6-8 years. Resale doesn't matter if you don't sell it. This is a tough time for the car market in general - sales are down and there is a glut of used cars, so don't think this is simply a Ford problem.

[gradywhite]

Another great resource for used car values is www.overstock.com. They have a great graph that shows mileage vs price.