Understanding Ford Expedition Expenses
The Ford Expedition is a full-size SUV known for its spacious interior, powerful engine options, and advanced technology. It is a popular choice for families and adventurers alike, offering a combination of performance and comfort. However, prospective buyers should consider the total cost of ownership, which includes depreciation, maintenance, insurance, and financing costs. Understanding these factors of the Ford Expedition cost will help in making an informed decision at Boulevard Ford of Millsboro. Read on to learn more, and head to our dealership for a test drive!
Ford Expedition Overview
The Ford Expedition is a large SUV with an initial price range between $64,000 and $79,000, depending on trim level and optional features. While it is a reliable and spacious vehicle, its depreciation rate is worth considering. The Ford Expedition loses approximately 50.7% of its value over a five-year period, making it less ideal for those looking for strong resale value. The key factors contributing to this depreciation include its fuel economy and stiff competition in the large SUV market.
Depreciation and Resale Value
A Ford Expedition will depreciate by 49% over five years, leaving it with an estimated resale value of $40,014 after this period. Comparatively, the large SUV category as a whole tends to lose 54.1% of its value over the same timeframe. While the Ford Expedition holds its value slightly better than the average large SUV, buyers should factor in depreciation when calculating long-term costs. For those wondering, “Do Ford Expeditions hold their value?” The answer is that while it performs better than some competitors, depreciation is still significant.
Costs of Ownership
The total five-year cost to own a Ford Expedition is estimated to be between $94,000 and $96,000. This includes depreciation, maintenance, insurance, fuel, and financing costs. To reduce costs, buyers can compare offers from multiple dealerships and consider pre-owned models with slower depreciation rates.
Ford Expedition Maintenance Cost
The maintenance and repair costs for a Ford Expedition range from $3,000 to $5,000 over five years. This includes regular oil changes, tire replacements, and unexpected repairs. Compared to other large SUVs, the Ford Expedition’s maintenance costs are relatively average.
Ford Expedition Interest Rates
Interest rates on a Ford Expedition will vary based on credit scores, loan terms, and the lender. Buyers with higher credit scores may secure lower interest rates, reducing their Ford Expedition monthly payment. Before finalizing a loan, it’s essential to compare rates from a variety of lenders to find the best financing terms.
Insurance and Financing
The Ford Expedition insurance cost typically falls between $5,000 and $14,000 over five years, depending on factors such as the driver’s history, location, and chosen coverage. Shopping around and comparing insurance quotes can help lower this expense. Additionally, choosing a higher deductible or bundling auto insurance with other policies may provide further savings.
Get Your Expedition
While the Ford Expedition offers ample space, strong performance, and modern technology, its total cost of ownership is an essential consideration. By researching financing options, comparing insurance rates, and negotiating dealership prices, buyers can make the most cost-effective decision when purchasing a Ford Expedition. Head to Boulevard Ford of Millsboro to view our inventory and find the perfect Ford Expedition that suits your budget!
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