Financial IQ: Do you want to own a brand new Ford Everest?

I visited a Ford dealer looking for a family vehicle and I found one I liked.  Ford Everest is a car that can fit several persons comfortably in the vehicle.  It is a bit expensive, triggering my financial IQ / literacy.

To keep things in perspective:

• Brand new 2010 model Everest M/T - P1.35 M
• 2nd hand 2008 model Everest M/T - cost around P800,000
• Utilizing our financial IQ / literacy, value of car has depreciated by 35% to 40% in 2 years.
• Vehicles are necessity.  Obviously, they are not assets that appreciates (grow in value as time passes).  Instead, they depreciate (lose value).
• Something to take into account if you are spending for necessity or investment.

Finally, I decided to pass on this vehicle and to continue looking for other vehicles.  Maybe I can find better deals along the way.


Here is Ford Philippines price list as of August 7, 2010.

Model	Variant	Retail Price
Expedition Eddie Bauer	4x4 A/T 5.4L SOHC Triton V8 Engine	3,299,000
E-150 Clubwagon	4x2 A/T 4.6L EFI V8 Engine	1,948,000
Explorer	4x2 A/T Eddie Bauer 4.0L SOHC Triton V6 Engine	2,395,000
Ranger	4x4 A/T 3.0 Dura TORQ TDCi	1,438,000
Ranger	4x4 M/T 3.0 Dura TORQ TDCi	1,363,000
Ranger	Wildtrak 4x2 A/T 2.5L 0L Dura TORQ TDCi	1,145,000
Ranger	Wildtrak 4x2 M/T 2.5L 0L Dura TORQ TDCi	1,090,000
Ranger	Trekker 4x2 A/T 2.5L 0L Dura TORQ TDCi	1,085,000
Ranger	Trekker 4x2 M/T 2.5L 0L Dura TORQ TDCi	1,030,000
Ranger	Base model 4x2 M/T	845,000
Escape	4x4 A/T XLT 2.3L 16V Duratec VVT I4 DOHC Engine	1,245,000
Escape	4x2 A/T XLT 2.3L 16V Duratec VVT I4 DOHC Engine	1,109,000
Escape	4x2 A/T XLS 2.3L 16V Duratec VVT I4 DOHC Engine	1,050,000
Everest	4x4 XLT AT Ltd 3.0L Dura TORQ Turbo Intercooler Diesel Common-Rail-Direct-Injection	1,718,000
Everest	4x2 A/T Ltd ICE 2.5L Dura TORQ Turbo Intercooler Diesel Common-Rail-Direct-Injection	1,559,000
Everest	4x2 A/T Ltd 2.5L Dura TORQ Turbo Intercooler Diesel Common-Rail-Direct-Injection	1,500,000
Everest	4x2 A/T XLS 2.5L Dura TORQ Turbo Intercooler Diesel Common-Rail-Direct-Injection	1,410,000
Everest	4x2 M/T XLS 2.5L Dura TORQ Turbo Intercooler Diesel Common-Rail-Direct-Injection	1,355,000
Focus	2.0L TDCi Sports 6PS I-4 DOHC 16-Valve Duratorq TDCi	1,195,000
Focus	2.0L TDCi Ghia A/T Sedan I-4 DOHC 16-Valve Duratec	1,195,000
Focus	1.8L Trend A/T 5DR I-4 DOHC 16-Valve Duratec	879,000
Focus	1.8L Trend A/T 4DR I-4 DOHC 16-Valve Duratec	879,000

http://www.ford.com.ph/servlet/ContentServer?cid=1137383065776&pagename=Page&c=DFYPage&site=FPH