Ford Explorer Depreciation

A Ford Explorer will depreciate 51% after 5 years and have a 5 year resale value of $21,529.

Drive a new Ford Explorer off the lot, and it will lose over a quarter of its value in the first two years. The Explorer has been a mainstay on the road for decades, and there are a ton of them in the marketplace. The healthy supply keeps a lid on resale values, as you can always find another one cheaper than the last. It's difficult to recommend a new Explorer from a value perspective, as their after-market prices don't keep pace with many of their peers.

The chart below shows the expected depreciation for the next 10 years. These results are for vehicles in good condition, averaging 12,000 miles per year. It also assumes a selling price of $43,607 when new. Enter your purchase price, expected ownership period and estimated miles driven annually. Our depreciation calculator will predict an expected resale value for the Ford Explorer.

Ford Explorer Depreciation Calculator

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Ford Explorer Depreciation

Years Old Depreciation Residual Value Resale Value Mileage Resale Year
1 $7,147 83.61% $36,460 12,000 2022
2 $12,406 71.55% $31,201 24,000 2023
3 $13,754 68.46% $29,853 36,000 2024
4 $16,902 61.24% $26,705 48,000 2025
5 $22,078 49.37% $21,529 60,000 2026
6 $24,594 43.60% $19,013 72,000 2027
7 $25,078 42.49% $18,529 84,000 2028
8 $27,254 37.50% $16,353 96,000 2029
9 $28,877 33.78% $14,730 108,000 2030
10 $30,067 31.05% $13,540 120,000 2031

Ford Explorer Depreciation

Years Old Depreciation Residual Value Resale Value
1 $7,147 83.61% $36,460
2 $12,406 71.55% $31,201
3 $13,754 68.46% $29,853
4 $16,902 61.24% $26,705
5 $22,078 49.37% $21,529
6 $24,594 43.60% $19,013
7 $25,078 42.49% $18,529
8 $27,254 37.50% $16,353
9 $28,877 33.78% $14,730
10 $30,067 31.05% $13,540

Buying a Ford Explorer New vs Used

If you purchase a used Ford Explorer that is 2 years old, then you could save $12,406 compared to buying new, and still have a relatively new model with plenty of useful life remaining. If you plan to keep this vehicle for 3 years then your total cost of depreciation would be $9,672. Try other age and ownership length combinations, or different vehicles to see if you can find depreciation sweetspots where this cost is the lowest. Hint: Try vehicles between 2 and 4 years old, as brand new vehicles depreciate quickly. Also, if this is a recently released model and buying a few years old isn't possible, consider another vehicle, or perhaps wait until more used Explorer models become available.

The Best Model Years to Buy a Ford Explorer

The 2019 Ford Explorer is our top pick for the best model year value for the Explorer. With the 2019, you would only pay, on average, 72% of the price as new, with 83% of the vehicle's useful life remaining. The 2016 and 2020 model years are also attractive years for the Explorer, and provide a relatively good value. Our rankings consider multiple factors, including the Explorer's price as new, current price, maintenance costs and remaining years of overall predictabe expenses. Our top ranked model year represents the most car for the money of the Ford Explorer models.

Ford Explorer Historical Depreciation

Year New Price Current Price Maintenance $ Decline % Decline % Paid Value Rating
2021 $43,607 $43,607 $328 $0 0% 100%
2020 $43,082 $36,399 $376 $7,208 16.53% 83.61% Better
2019 $42,033 $30,543 $467 $5,856 16.09% 71.55% Best
2018 $41,079 $28,729 $605 $1,814 5.94% 68.46% Good
2017 $41,872 $26,339 $695 $2,390 8.32% 61.24%
2016 $41,743 $21,489 $879 $4,850 18.41% 49.37% Better
2015 $38,732 $18,102 $1,214 $3,387 15.76% 43.6% Good
2014 $34,710 $16,123 $1,373 $1,979 10.93% 42.49%
2013 $33,834 $14,167 $1,478 $1,956 12.13% 37.5%
2012 $33,016 $12,842 $1,688 $1,325 9.35% 33.78%
2011 $33,889 $12,257 $1,734 $585 4.56% 31.05%
2010 $32,793 $8,136 $1,986 $4,121 33.62% 18.75%
2009 $32,578 $7,225 $2,343 $911 11.2% 14.99%
Year Price % Paid Value Rank
2021 $43,607 100%
2020 $36,399 83.61% Better
2019 $30,543 71.55% Best
2018 $28,729 68.46% Good
2017 $26,339 61.24%
2016 $21,489 49.37% Better
2015 $18,102 43.6% Good
2014 $16,123 42.49%
2013 $14,167 37.5%
2012 $12,842 33.78%
2011 $12,257 31.05%
2010 $8,136 18.75%
2009 $7,225 14.99%

Ford Explorer Depreciation Rankings

Depreciation Rankings

We've ranked over 200 models from best to worst for Depreciation. See where the Ford Explorer ranks for Depreciation compared to other vehicles. Also check out how the Explorer stacks up in our rankings for Maintenance, Insurance and Overall Costs.

Depreciation Rankings

Other Ford Explorer Costs of Ownership

Finding a car or truck that saves on depreciation costs is important. But, it's also imperative to view all major Ford Explorer costs. This will ensure that you are finding the vehicle that provides you the best value, at the lowest cost. We've created tools that will also help you to save on the following ownership expenses: