"LJ909" (lj909)
03/20/2019 at 16:27 • Filed to: Finance
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"LJ909" (lj909)
03/20/2019 at 16:27 • Filed to: Finance | 1
| 37 |
I mentioned how expensive the whole Explorer line is when I went over the pricing breakdown the other day. But when you actually look at the monthly payment breakdown, it puts it in perspective and is a bitter reminder of how expensive new cars are these days.
The numbers obviously speak for themselves, but here we have a standard 60 month term with 10% down and 6 APR and the damn payment is still over a grand a month. Just gotta impress the neighbors and you’ re willing to get yourself into some trouble? Even if you go to 75 months, with 10% down and the same APR you’re still at 4 bucks shy of $900 a month.
In my experience , people always paid attention to what they shouldn’ t have paid attention to. They always balked or complained about the down payment, but would be willing to accept crazy monthly payments. Even with excellent credit and a 0% APR, you would’ t get much help. At a standard 60 months you’re still at $932/month. The crazy thing? The only way to get the payment under $600 a month at a normal 5 year loan term, would be to put $30,000 down. Only then would the payments be $536. That’ s crazy
Gerry197
> LJ909
03/20/2019 at 17:32 |
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Sure, but that’s what it cost to buy a $62,000 car. A lot of these are probably going to get leased or purchased with 84 month financing.
The difference is the resale value, which unfortunately is probably closer to European luxury cars (i.e. not very good) instead of full-size pickups with have historically been good regardless of fuel prices.
Depreciation tends to be the biggest on h igh priced vehicles in most segments except for big trucks.
nj959
> LJ909
03/20/2019 at 17:47 |
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You could have a 2015 Supercharged Range Rover Sport from Carmax and the warranty for less money.
I don’t even like the sport very much and I’d still take it over the Ferd.
nermal
> LJ909
03/20/2019 at 18:08 |
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I honestly don’t think these are going to sell all that well. Yes, they are fast as shit. Yes, they are a good value compared to a comparable German or Land Rover that is also fast as shit.
But it’s too “meh” for what it is.
The target market is people with FU $$$ and a Ford b oner - So basically owners of Ford dealers and executives at Ford-related companies.
Spanfeller is a twat
> LJ909
03/20/2019 at 18:13 |
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The top-trim Ford Explorer in 2003 was 51,473 dollars when adjusted for inflation and without optional extras. When you compare it to the same trim in the 2020 year model (AWD Limited) the new car is 51,225.
For that you get a significantly more powerful, economical, safer, and luxurious vehicle.
I think we're all collectively wrong when we assume the price of things went up, in reality it's just inflation.
gettingoldercarguy
> Spanfeller is a twat
03/20/2019 at 18:28 |
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Inflation is fine as long as you stay with o r ahead of the rate, but many people have not. Ergo, the car has become more expensive in real dollars.
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LJ909
> Gerry197
03/20/2019 at 18:35 |
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Yea that’ s my point. A lot of them are going to end up on long terms with people driving them that couldn’ t afford it on a 60 or even 72 month term. But yea deprecation is going to hit these things hard. The ST MIGHT retain some value due to it being the performance trim , but the other trims as a whole will get hit
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LJ909
> nj959
03/20/2019 at 18:38 |
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I would too just by nature of having the piece of mind with that sweet Carmax warranty backing.
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Spanfeller is a twat
> gettingoldercarguy
03/20/2019 at 18:39 |
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People are earning less money...
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LJ909
> nermal
03/20/2019 at 18:42 |
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You forgot one demographic: suburban moms. They love Explorers.Many are repeat buyers too. The problem is this thing is priced into luxury crossover territory now, where better money is spent elsewhere. Not to mention that if I were spending this kind of money but wanted a Ford product, I wouldn’ t be caught looking at a damn Explorer when the new Aviator exists.
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LJ909
> Spanfeller is a twat
03/20/2019 at 18:45 |
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Inflation yes. But prices have gone up because of raw materials etc. Not to mention our flat wages.
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gettingoldercarguy
> Spanfeller is a twat
03/20/2019 at 18:47 |
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Yes, factoring in inflation, they are earning less. Relative to those people, the prices are going up.
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Spanfeller is a twat
> LJ909
03/20/2019 at 18:48 |
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But production costs and taxes went down across the board, so it’s still neck and neck with the 2004 model.
I think that it's mostly the wages staying flat on average and probably falling when you focus on segments like the middle class.
jimz
> LJ909
03/20/2019 at 19:51 |
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I’m getting a bit irritated at people bemoaning the price of cars when they’re mostly only looking at fully loaded, top trim level models. “ OMG, the F-150 costs $60,000 now!”
uh yeah, if you load up a Platinum with thousands of dollars of options.
“But the F-150 used to be no more than $25k!”
yeah, in 1996, when the top trim was Eddie Bauer. Which was little more than two-tone paint. you still got cloth seats, a manual trans was standard. oh, at least carpet was included. The closest like-for-like analogue to the 1996 F-150 Eddie Bauer is the 2019 F-150 XLT. And the 2019 is a lot safer, has a shit ton more power (even the base 3.3 V6,) has all the equipment the Eddie Bauer did and more (e.g. SYNC.) Oh, and you can get a crew cab, which you couldn’t on the 1996.
1996 F-150 4x4 Supercab Eddie Bauer, in today’s dollars: $39,987
2019 F-150 4x4 Supercab XLT, equipped similarly: $40,240.
nobody’s getting a gun put to their head forcing them to buy a King Ranch or Platinum .
Nothing
> LJ909
03/20/2019 at 19:52 |
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Who’s the silly person paying sticker for an Explorer?
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jimz
> Spanfeller is a twat
03/20/2019 at 19:54 |
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not to mention how much more shit is in the modern Explorer. I’d bet by weight the 2019 Explorer has 4-5x as much copper in it (much more complicated EDS.) the 2019 Explorer has about 30 ECUs handling various functions, the 2003 had like five. Th e 2019 Explorer has things people couldn’t even think of in 2003 (SYNC etc.)
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LJ909
> jimz
03/20/2019 at 20:11 |
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Did this to highlight the fact that:
1. The Explorer is expensive as fuck for what it is. Its Mercedes/BMW/Lexus territory. For a Ford. Not to mention its stepping on the Aviator’ s toes, which is the superior vehicle.
2. To highlight how bad these loan terms are and can be even with decent to good credit.
Not to compare how much the same car costs 25-30 years ago. Of course prices have gone up. That goes without saying. But w e can be outraged at how expensive a vehicle is that has never been in this price point before.
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LJ909
> Nothing
03/20/2019 at 20:13 |
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Sticker on everything expect the ST. Dealers aren’t going to budge on those for awhile. If the Focus RS is any indication, may wont budge at all.
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nermal
> LJ909
03/20/2019 at 20:22 |
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Suburban moms will drive the middle-of-the-range Explorer. The one with the most common config that dealers will stock. Not the rental car one , not the fast-as-shit one or the completely loaded one. Call it $40k after discounts. ~$600 / month on an 84 month loan with an extended warranty.
lscrx
> LJ909
03/20/2019 at 20:47 |
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“The numbers obviously speak for themselves, but here we have a standard 60 month term with 10% down and 6 APR”
Who is buying a $60k+ vehicle at 6% APR? I qualified for half that on my used VW, and I do NOT have great credit.
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LJ909
> lscrx
03/20/2019 at 21:09 |
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Weirdly tha ts what it defaults to when you go to adjust the payments.
SlothLovesChunk
> nj959
03/20/2019 at 21:45 |
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Current LR owner here.
Buy the Ford.
Under_Score
> LJ909
03/20/2019 at 21:59 |
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Depreciation on these and Lincolns is gorgeous, though. An MKZ Hybrid Reserve II in Blue Diamond a few years down the road would be NICE.
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Under_Score
> LJ909
03/20/2019 at 21:59 |
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Depreciation on these and Lincolns is gorgeous, though. An MKZ Hybrid Reserve II in Blue Diamond a few years down the road would be NICE.
Wuelling
> LJ909
03/20/2019 at 22:03 |
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My mortgage and school loan is less a month than that lil
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Spanfeller is a twat
> Under_Score
03/20/2019 at 22:21 |
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I do hope the masses of people who swear by used cars due to depreciation realize that if everyone wants a used car then values will skyrocket...
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Under_Score
> Spanfeller is a twat
03/20/2019 at 23:07 |
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I would’ve never thought about an MKZ Hybrid until I saw one for myself today, and I doubt others are interested, too.
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Spanfeller is a twat
> Under_Score
03/20/2019 at 23:08 |
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Well, that’s an odd car. But I hate it when people comment “Oh the depreciation means I’ll buy it used! such a good deal...stupid first owners!
”
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Under_Score
> Spanfeller is a twat
03/20/2019 at 23:14 |
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I was mainly thinking about the general shift from sedans to crossovers, and how sedans are much less desired than crossovers right now.
BaconSandwich is tasty.
> nermal
03/21/2019 at 00:14 |
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I was wondering if 84 month leases were popular down there yet. I seem to see a number of places up here advertising them.
br95031
> LJ909
03/21/2019 at 07:16 |
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The sport model holds its value extremely well considering. Go look for a 2013 explorer sport. They are still 25 to 30 thousand dollars. You can find 2013 X5s for less.
Sampsonite24-Earth's Least Likeliest Hero
> LJ909
03/21/2019 at 09:07 |
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the explorer starts at like half that. with incentives i bet you can get a new 2020 XLT for under 30k. youre just proving jims point that youre complaining about the pricing on the top trim level. the sticker for my 04 Eddie Bauer Explorer was 36k dollars, thats about 50k in todays money. only a couple grand shy of where the Explorer ST starts.
its never been at this pricepoint before because its never had these features and amenities before
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LJ909
> br95031
03/21/2019 at 10:42 |
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That’s weird and makes no sense.
Ssfancyfresh
> LJ909
03/21/2019 at 11:40 |
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I’m in the market for this size of vehicle in the next year.
Just looking at 2019 vs 2020 Explorer XLT, I didn’t see a huge price jump UNTIL i specified a 2nd row bench. The bench in the 2020 is part of a SEVEN THOUSAND DOLLAR option package that is required to equip it just so.
So, as equipped, I had a 2019 Explorer XLT at $39k and the 2020 Explorer XLT was $49k.
Kind of a bummer.
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lscrx
> LJ909
03/21/2019 at 12:40 |
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Maybe I was just lucky?
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LJ909
> Ssfancyfresh
03/21/2019 at 13:01 |
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Ford does their options weird. Stuff like this is why I wish we could do a la carte options.
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RacingShark
> LJ909
03/21/2019 at 15:03 |
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get a porsche. Everything’s an option.
A dealer once told me, if you can touch it, you can change it. the downside is that, if you can touch it, it’s $750. and you can touch a lot of things.
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br95031
> LJ909
03/21/2019 at 18:53 |
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They weigh what 5000 pounds and have sport sedan speed. Its a unique combo. The sport model only d oesnt look too dated yet but ya i agree still way overpriced.