FORD EXPEDITION AMONG TOP CARS WITH HIGHEST DEPRECIATION
The current generation Ford Expedition has been consistently praised by third-party automotive publications as an excellent purchase, especially for families. As previously detailed by Ford Authority, Consumer Reports named it the best full-size SUV on the market, while Kelley Blue Book awarded it a best buy in its class. However, iSeeCars recently found that its value depreciates faster than most other five year old vehicles on the used car market.
Ford’s Expedition came in 10th place, making it the bottom of the list for highest depreciating five-year old vehicles.Interestingly enough, although this average full-size SUV loses 50.7%
of its value after being sold used (or about $32,674 dollars from its original Manufacturers Suggested Retail Price), it was the only non-luxury car on this specific list which also included Lincoln’s Navigator.
The website analyzed over three million used cars sold in 2022 and discovered that, on average, the value of a vehicle decreased by 17 percent when compared to 2021. However, the top 10 highest depreciating vehicles averaged a 33.3 loss in value, which resulted in a $14,049 decrease in monetary value over five years.
According to Karl Brauer, Executive Analyst for iSeeCars, “As higher gas prices increase demand for fuel-efficient vehicles, they also decrease demand for full-size SUVs like the extra-large Cadillac Escalade ESV and Lincoln Navigator.” He continued by saying luxury vehicles like this tend to depreciate at a faster rate because shoppers don’t value their premium features as much when buying used.
Although large SUVs have been some of the quickest depreciating vehicles in recent years, this doesn’t mean that all segments are doing poorly. For example, as Ford Authority recently shared, the Ford Mustang has had very low rates of depreciation.