Hi all,

I'm considering to buy a used Explorer, and did some research to get a good deal. Am surprised to find out that Ford Explorer Eddie Bauer depreciates very quickly, much faster relative to other similar luxury SUVs, as follows (these are averages, give or take a few thousands):

Brand new 2012 model: P2.3 million
One year old 2011 model: P1.9M
Two year old 2010 model: 1.5M
Three year old 2009 model: 1.1M
Four year old 2008 model: P800k
Five year old 2007 model: P650k
Six year old 2006 model: P500k
And so on...

Any idea or thoughts on this? I really like it pa naman, it's looks and it's entertainment theater system with dolby digital. I asked one car buyer/dealer what is appraised value of Ford Explorer Eddie Bauer 2008 with average mileage casa maintained and flood/accident free, and he said P550k only. I was surprised with this figure, but found it to be more or less same figure from other car dealers.

Thanks.