Ford Escapes are popular all over the country and they are fairly safe and reliable vehicles. However, there is some question regarding the value of the Escape and whether or not that value can be retained over time. Let’s find out whether Ford Escapes hold their value and what some alternative options might be if the answer is no.
Ford Escapes tend to hold anywhere from 84% to 21% of residual value. This is determined by how old the car is. The most common amount of retained value is 22%, though usually, this is only applicable to cars that are ten years old or older. This level of depreciation is higher than most.
Naturally, if you are considering purchasing or selling a Ford Escape, you may want to know a few more details. Furthermore, we will discuss the depreciation rates of Ford Escapes as well as the pros and cons of investing in one. By the end, you should have a good understanding of what you’re in for with your Ford Escape.
Ford Escape Depreciation
As mentioned before, Ford Escapes can have a value that’s as high as 84% of the original sale price, but this is only if the car is one year old. Ford Escapes tend to have a 51% depreciation rate on average. Below are a few examples:
|Years Old||Residual Value||Resale Value|
Purchasing a Ford Escape is completely up to you, just understand that the longer you keep it, the less you will be able to sell it for. Ford Escapes do retain some value, but that value doesn’t take long to plummet in number. Whether or not that is a worthwhile factor to take into account is really up to you and your circumstances.
If you think there’s even the slightest possibility of you selling your car in the future, you may want to rethink purchasing a Ford Escape. It is a good car and it has plenty of good qualities, but the depreciation can be pretty severe. If you have a desire to sell your car, it’s best to do it before it reaches five years old because the resale value will always be higher before that time.
CarEdge ranked over a hundred different models from best to worst for depreciation rates and resale value. The Ford Escape was towards the bottom of the resale value list at number 96.
Unfortunately, this means it did not make the best depreciation rate list. Again, the car is reliable, and this is a matter of personal choice, but keep in mind that it will depreciate rapidly.
Is a Ford Escape Worth It?
There is a lot of debate as to whether a Ford Escape is worth the price, especially when you look at the depreciation rates. The truth is that there are many pros and cons to getting a Ford Escape that should be mentioned before investing. Here are a few of the most important ones you should know!
One of the best things about the Ford Escape is the plentiful amount of cargo space available. The trunk can hold plenty of luggage, gear, or whatever else you want to haul.
You can increase that amount of space if you lay the back seats down as well. And in addition, there is a lot of space for passengers as well! The seats are comfortable and there is plenty of legroom for everybody in the front and the back.
The cabin is also remarkably comfortable and quiet. The only time you will be aware of the engine running is if you’re going seventy on the freeway or highway.
Even if you open it up to full throttle, you’ll still have a tranquil ride wherever you go. This is especially nice because any bumps and obstacles you may encounter will be nicely absorbed and the car will continue to ride along smoothly.
The Ford Escape has the same ride quality as a good sedan. This is partially thanks to the car’s six-speed automatic transmission. You can be guaranteed a smooth, comfortable ride in a Ford Escape wherever you go. You can travel quickly and smoothly at the same time with no problem.
Anybody who’s had kids knows what a huge pain-in-the-neck car seats can be. However, with the Ford Escape’s LATCH anchors (which are located conveniently on the back of the seats), installing car seats is no longer a difficult undertaking. You won’t have to dig around underneath the seat to find a latch.
Additionally, because the doors open wide and the interior has plenty of space, you will be able to put in a car seat with perfect ease.
Unfortunately, the Ford Escape is not perfect and has many flaws that you’ll have to deal with. One of these is uncomfortable steering. Many customers have reported feeling that the steering has an odd, artificial feel to it that often makes the driver feel like they have minimal control. This can be a matter of personal opinion, but a lack of control can feel unsettling sometimes.
Additionally, it doesn’t have the best fuel economy out there. It can break 30 mpg on a highway, but it sadly doesn’t stack up to the competition very well. If you want a car that has great fuel economy you would do okay with this vehicle, but another one might serve you better.
If you have an eye for modern gadgets or the latest and greatest, you may want to consider getting a different car. However popular the Ford Escape can be, many people would say that its interior is far too outdated.
It’s a nice model to be sure, but the interior does lack the finesse and refinement of many of its competitors. Again, this may not be an issue if you don’t care about the interior’s appearance all that much, but if you would prefer a more modern type, you would probably do better with something else.