Over the past year or so, the Ford Edge has earned considerable praise from Consumer Reports, which named as a superior option to the Honda Passport and Chevy Blazer, one of the best SUVs for less than both $35k and $40k, one of the 10 best SUVs on sale today, among the best mid-sizers in terms of reliability and fuel efficiency, one of the safest and most reliable used three-year-old vehicles on the market, and one of the best SUVs in terms of rear-seat comfort, while the Edge was also the top ranked vehicle in the U.S. in terms of brand loyalty in May 2022. However, according to the latest Car Affordability Index from iSeeCars, the Ford Edge isn’t quite as affordable as it used to be.
The average price for a three-year-old used Ford Edge back in August 2019 was $22,372, but that has risen sharply in the years since, coming in at $30,423 as of August 2022. That’s an increase of $8,051 or 36 percent, which is the 22nd biggest jump of all used vehicles on the market. The average used vehicle has increased by a far more modest amount, going from $22,906 in 2019 to $25,542 this year, a difference of $2,636 or 11.5 percent.
To come up with these numbers, iSeeCars calculated the pricing threshold for affordable cars and analyzed three-year-old used cars that had been affordable between April and December 2019 but were no longer affordable from January to August 2022. It derived this data from its Car Affordability Index, which is the ratio between median household income and an idealized income for car payments, based on new cars’ and three-year-old used cars’ pricing.
“The rise in new and used car prices has led to a drop in vehicle affordability for consumers,” said iSeeCars Executive Analyst Karl Brauer. “That means it’s more important than ever for shoppers to choose vehicles that fit their budget. And while it may be tempting to take out a longer loan to minimize monthly payments, or to make a smaller down payment, buyers will end up paying even more for these higher-priced cars in the long run.”
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Comments
My wife and I drive a 2010 & 2014 ford edge. They both run great and I don’t intend to buy another Ford until I have to. But we are very interested to know if Ford will build a hybrid version of the Ford Edge in 2025? If so, we would love to purchase one. We have two home and both are in areas where our streets flood quite often when the conditions are right (high tides, full moon, heavy rains). So we need an AUV with at least 7.5” ground clearance like the ford edge. The Edge has gotten through flood conditions since 2010. So we are sticking with the Edge! We are hoping for the hybrid version!
Unfortunately, Ford is discontinuing production of the Edge after 2023, originally saying it was placed too close to the Escape and the Explorer. I don’t get that but that’s part of the rationale. Also, the Ontario plant where this vehicle is built is to be converted to electric vehicle production. I have owned three Edges and find them to be a great vehicle for my needs. I think Ford is making a big mistake in dropping this line.
Totally agree, the Ford Edge had thousands of advertising dollars at the beginning of its production cycle to establish a market that has remained pretty loyal. I think part of its recent uptake in price as a used vehicle was Ford’s announcements that it was being discontinued. Existing Edge owners getting a newer one. We have a 2013 Ford Edge Sport with 70K and there is no way I would trade down for the little Escape and not quite there yet to buy the electric Mustang. When the E Mustang came out I compared dimensions and it was very close to the Edge, so maybe Ford didn’t want a new Edge to steal some of its sales introduction volume.
What will happen to the Ford escape in 2024.
I just bought my 3rd Edge, a 2022 Edge ST. I’ve had ZERO problems with my 2008 and 2015 Edge’s! All have had six cylinders. Fords decision to stop producing the Edge is a serious mistake!
I had a 2021 edge and it was a lemon dash was cracked paint wiped off in several places the camera was out often the floorboard was flooded and the final was the engine sounded like a plane ans tapping and racing yes at 10 months old I did a buy back and bought a explorer