Why is the resale value of the Ford Explorer so low?
2 Answers
The low resale value of the Ford Explorer is due to the poor transmission experience, high price, and low cost-effectiveness. The quality is also subpar, leading to the saying in China, 'A century-old Ford is ruined by Changan.' Calculation of resale value: The resale value of a car is calculated based on the original ex-factory price, using the automotive industry's 'ten-year depreciation method.' In the first three years after purchase, the annual depreciation is 15%, from the fourth to the sixth year, it is 10% annually, and from the seventh to the tenth year, the depreciation is 5% annually. Factors affecting resale value: Car resale value refers to the ratio of the selling price of a vehicle after a certain period of use to its original purchase price. It mainly depends on factors such as the vehicle's performance, price fluctuation range, spare parts prices, and maintenance convenience, reflecting the overall trend of the vehicle's comprehensive level. Models with high resale value have the advantage of being less affected by price drops in the second-hand market, reducing the risk of economic losses due to product depreciation for some car owners.
I drove a Ford Explorer for several years and lost quite a bit of money when I sold it. The resale value is shockingly low. The main reason is the high fuel consumption due to its large body size, and with fuel prices skyrocketing, buyers are hesitant to take it on. Ford's reliability reputation doesn't compare to Toyota or Honda, and minor issues with older models can be expensive to fix, with parts hard to come by. Plus, every time a new model is released, the old one depreciates immediately—the market competition is just too fierce. The Explorer has a relatively small presence in China, so used car dealers offer low purchase prices, making resale difficult. While its spaciousness is an advantage, its practicality is somewhat lacking, making daily commutes inconvenient. If you're considering buying a new one, be cautious about this, as the high long-term ownership costs will hit your wallet hard. Overall, the brand image and practical pain points make it worth little in the used car market.
