A question sure to arise in any conversation about a vehicle is whether or not it’s a good investment. This is a common concern for many, as everyone wants to have a method of transportation that’s not only practical but reliable and can last for a decent amount of time. There are several factors that play into this, such as routine service at regular intervals and the quality of the vehicle’s structural integrity.
Still in production today and just as popular, many consumers in the market for an SUV might wonder if purchasing a Ford Escape is a shrewd investment on their part. Making its debut in the early 2000s, the Ford Escape was certainly one of the first indications that the SUV was growing more accessible, not to mention offering significant advantages while being scaled down in size. Today we’re going to take a deep dive into the factors to look for when considering the purchase of a new Ford Escape. And who knows? The next time you come across a Ford Escape for sale, it might very well end up in your driveway.
A Brief Escape to the Annals of History
As we mentioned previously, the Ford Escape arrived at a pivotal moment in the automotive industry. As the new millennium began, the SUV was a slightly different animal than the ones we’re familiar with today. While full-sized SUVs are still needed—and many, such as the Ford Expedition and Chevy Tahoe, are still in production—the reigning consensus among the various manufacturers in the industry was one of “large and in charge.”
The Hummer and Ford Excursion are prime examples of unusual size and gas-guzzling powertrains that were quite the opposite of economical. The Escape, which debuted at the start of the decade, was a smaller-sized version of the brand’s flagship SUV, the Explorer; the Escape offered all the same qualities, albeit on a smaller scale. Since its introduction, the available engine hasn’t gotten larger than a six-cylinder. The units sold since then have always been relatively high, speaking to the vehicle’s popularity among consumers.
A Continuous Innovation
It’s been said many times before that one cannot reinvent the wheel. Well, the Ford Escape has had some disagreements with that phrase. Realizing that hybrid technology would be the future, Ford has continually taken steps to implement this technology in not just the Escape but their entire fleet of vehicles. What first started appearing in 2007 as a PHEV version of the Escape has only increased in strength and popularity as the years have gone on.
The Art of Depreciation
Now, suppose you’re considering making an investment in a new vehicle. In that case, it’s important to understand that all vehicles—regardless of their make, model, or overall quality—go through a process of deprecation. This starts from the moment a vehicle leaves the dealership and it continues each and every year. The process is non-linear, as some vehicles depreciate faster than others; this means there are two aspects to observe. On the one hand, depreciation can be beneficial if you’re looking to purchase a used vehicle for a low cost. It can also mean selling your vehicle for a reasonable price, depending upon how much of its resale value it retains.
The depreciation of a Ford Escape might give you an idea of whether purchasing a new or used version will be beneficial. For the first five years of ownership, an Escape retains just under 70% of its original MSRP. Depreciation doesn’t fall below the 50% threshold until after eight years. This means buying a used Escape can be an excellent option to save money on cost, as well as insurance premiums, as these are usually lower for used vehicles. Suppose you’re thinking of purchasing an offering from the current model year. In that case, you might want to consider re-selling the vehicle after the five- or six-year mark if you’re looking to get a decent offering from potential buyers. This should also be taken into consideration if you’re thinking of trading in an Escape in the not-to-distant future as equity toward a new vehicle.
Reliability & Repairs
There’s a good reason why we not only mentioned the term “investment” in the title of this article but in the opening paragraph as well. That’s because every vehicle is an asset, and thus every vehicle is an investment. In order to recoup a return on one, you need to be sure to keep up with routine service at regular intervals. Much like fuel and insurance premiums, this is an essential cost and should always be factored into your budget; on average, it’s estimated you’ll be looking at an average annual cost of around $600. The average yearly cost for vehicles on the market is $652, making the Escape more advantageous in saving money. Major repairs are uncommon, and as long as a vehicle is properly maintained, you’ll be able to get the most out of your purchase.
Awards & Accolades
One of the best advantages consumers have in shopping for a vehicle is that a vast array of resources are always available to aid you during the selection process. Among these are government-mandated crash tests and industry insider awards that take an objective look at all the vehicles on the marketplace and evaluate which ones are exemplary. And, as is to be expected, the Ford Escape has demonstrated its quality construction on more than one occasion.
The Ford Escape has received a highly-coveted five-star safety rating from the NHTSA on several occasions, which certainly speaks to the level of quality that Ford places in protecting their customers while on the road. This is further exemplified by the number of standard safety features that the Escape has offered throughout its existence. In 2020 the Escape was recognized by JD Power & Associates for being exemplary in the field of performance; this same year, the Escape was named a Top Safety Pick by the IIHS. This same award was given consecutively to the Escape between 2007 and 2010, establishing a track record of dependability that few brands have accomplished. Its recent redesign had seen the Ford Escape recapture the IIHS designation of Top Safety Pick in 2020 and every year since.
Smaller in Size, Bigger in Benefits
Ever since the boom period of the SUV began, there has been an almost never-ending parade of variations of the vehicle in question. From its formative years—in which it was far ahead of the norm that the industry has embraced—to the multiple award and accolades that have been bestowed upon it, the Ford Escape has proven its worth as one of the best SUVs on the marketplace. While the Ford Explorer was certainly responsible for planting the seeds of what the modern SUV craze would become, the Escape is that concept fully realized.
The fact that a vehicle that debuted over two decades ago is not only still in production but is still being discussed with vigor and enthusiasm speaks to the level of quality it possesses. So, the next time someone asks you if the Ford Escape is a worthwhile investment, you can answer with an emphatic “yes.”