Should I Buy the Ford Territory?
I've been seriously considering buying a Ford Territory Diesel with likely offload in approximately 3 years. It's a great drive in my opinion and the diesel engine is very smooth and has minimal cabin noise. However, the recent decision to close the Ford operations locally and discontinue the Territory has me concerned for resale values moving forward. I will be leasing (Chattel Mortgage) the vehicle over 5 years with a 25% residual. The aim is to keep the kilometres as low as possible and sell in approximately 3 years and try to break even.
Should I buy this car and will it be financially viable to do so?
Sorry mate, but the Ford Territory is a dog with fleas. The closure of the Ford manufacturing plant is a gnat on the flea on the dog that is the Territory.
For starters it's older than the hills. Territory was launched in 2004 and hasn't been given a substantial, fundamental engineering upgrade since then. (Although it has had minor style-type tweaks done at minimal cost while Ford was madly trying to rip costs out of the Australian manufacturing operation.) So it's like driving a new, 10-year-old vehicle. That's a fail, off the bat.
The diesel was released in 2011, but that engine was already as old as the hills, having been in various Land Rovers, etc., since Jesus was the goalie for the Nazareth under-12s.
So, in a nutshell, you've got a geriatric engine in a geriatric car with lousy build quality and terrible reliability, which is also one of the market's true depreciation dogs.
Apart from that, buying one is a great idea. (That's a joke...)
Buy a Hyundai Santa Fe CRDI or Kia Sorento - better vehicles in every respect. Superior engineering, more reliable, modern tech., more warranty, better value, lower price, better third row seating arrangement, too. Take one for a test drive; I dare you.
Sorry to be so down on your suggestion, but your plan is a financial and practical disaster looking for a place to happen.
When you decide what you want - even if it's still the Territory (hey, it's a free country) - get back to me. My car broker contact can get it for you cheap, and sidestep the more common dealership rip-offs. And if you want to go head-to-head with the dealer yourself, make sure you watch my video on that here: how to beat car dealers.
I hope this helps.