I bought a 2006 Ford Escape Hybrid brand new. One of the benefits with the purchase was 60 months interest free payments. I now have eight months remaining. The car has been flawless in every respect. However, I am concerned about the high cost of hybrid battery replacement. Should I trade the car in after the August payoff (with three years remaining on the battery warranty) or should I continue to drive it knowing that it will depreciate significantly with little or no battery warranty?
I would continue to drive it and enjoy a car-payment-free life as long as possible, but it’s really up to you.
The hybrid system on that 06 is warrantied for 8 years/ 100,000 miles.
While if Ken is right, and I would not be surprised if he is, why would you want to sell it. If Ken is wrong, then any smart potential buyers would do their homework and would deduct a sizable amount due to the upcoming battery work. I would keep it.
It’s less expensive to replace the battery and keep driving the vehicle than it is to replace the vehicle to avoid replacing the battery. If you like the Escape, then keep it.
It’s really too early to know the long term cost of keeping the hybrids. My guess is that as hybrids approach the projected lives of their batteries, their market values will drop off to almost nothing. An eight year old vehicle is an eight year old vehicle, and if the cost of replacing the battery pack approaches the value of the entire vehicle market value and tradein value will be zip. dealers may not even want to accept the vehicles for trade.
100% electric vehicles may turn out to be the exception, simply because they don’t have the cooling systems, the complex multiple speed trannys, and many of the other complexities to wear out and become a burden to the value of the car. Tesla, for example, has a one-speed tranny. No real tranny at all.
As to your situation, since it’s already paid for and you’re alerady pushing 5 years old, and you obviously like to e vehicle, I’d keep driving it until you start having problems. The major depreciation, including any related to the battery life, has already happened.
If your Escape Hybrid SUV is in California or other states with similar hybrid engines rules, you have 150,000 mi warranty on the high voltage battery, so enjoy your extended warranty in full before you take any action. It’s well documented in this regard that Escape Hybrid SUV reach record 300,000 mi reliably by New York & San Francisco taxi cabs and NY PD.
Considering the vehicle is now 13 years old (and the topic is 9 years old), I don’t think the 150k mile warranty matters anymore