Ford Explorer Depreciation

A Ford Explorer will depreciate 56% after 5 years and have a 5 year resale value of $19,124.

Drive a new Ford Explorer off the lot, and it will lose over a quarter of its value in the first year alone.?After 4 years, it will lose half its value. It's difficult to recommend a new Explorer from a value perspective, as their after-market prices just keep falling and falling. While a good utilitarian SUV, the Explorer is not known for holding its value over the short term, or long term. If value retention is important to you, there are better options elsewhere.

The chart below shows the expected depreciation for the next 10 years. These results are for vehicles in good condition, averaging 13,500 miles per year. It also assumes a selling price of $43,082 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

Years Old Depreciation Residual Value Resale Value Mileage Resale Year
1 $11,425 73.48% $31,657 13,500 2021
2 $13,205 69.35% $29,877 27,000 2022
3 $15,923 63.04% $27,159 40,500 2023
4 $21,308 50.54% $21,774 54,000 2024
5 $23,958 44.39% $19,124 67,500 2025
6 $24,652 42.78% $18,430 81,000 2026
7 $27,008 37.31% $16,074 94,500 2027
8 $28,068 34.85% $15,014 108,000 2028
9 $29,671 31.13% $13,411 121,500 2029
10 $34,759 19.32% $8,323 135,000 2030

Ford Explorer Depreciation

Years Old Depreciation Residual Value Resale Value
1 $11,425 73.48% $31,657
2 $13,205 69.35% $29,877
3 $15,923 63.04% $27,159
4 $21,308 50.54% $21,774
5 $23,958 44.39% $19,124
6 $24,652 42.78% $18,430
7 $27,008 37.31% $16,074
8 $28,068 34.85% $15,014
9 $29,671 31.13% $13,411
10 $34,759 19.32% $8,323

Ford Explorer Depreciation Calculator

Current Vehicle Age
Current Price
Own it For
Annual Miles

If you purchase a used Ford Explorer that is 2 years old, then you could save $13,205 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 $10,753. 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, 73% of the price as new, with 92% of the vehicle's useful life remaining. The 2016 and 2018 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
2020 $43,082 $43,082 $327 $0 0% 100%
2019 $42,033 $31,261 $375 $11,821 27.44% 73.48% Best
2018 $41,079 $28,956 $466 $2,305 7.37% 69.35% Better
2017 $41,872 $27,000 $604 $1,956 6.76% 63.04% Good
2016 $41,743 $21,789 $694 $5,211 19.3% 50.54% Better
2015 $38,732 $18,072 $878 $3,717 17.06% 44.39% Good
2014 $34,710 $16,061 $1,213 $2,011 11.13% 42.78%
2013 $33,834 $13,997 $1,372 $2,064 12.85% 37.31%
2012 $33,016 $12,984 $1,477 $1,013 7.24% 34.85%
2011 $33,889 $12,237 $1,687 $747 5.75% 31.13%
2010 $32,793 $8,069 $1,733 $4,168 34.06% 19.32%
2009 $32,578 $6,759 $1,985 $1,310 16.23% 14.65%
2008 $30,502 $6,894 $2,342 +$135 -2% 14.92%
Year Price % Paid Value Rank
2020 $43,082 100%
2019 $31,261 73.48% Best
2018 $28,956 69.35% Better
2017 $27,000 63.04% Good
2016 $21,789 50.54% Better
2015 $18,072 44.39% Good
2014 $16,061 42.78%
2013 $13,997 37.31%
2012 $12,984 34.85%
2011 $12,237 31.13%
2010 $8,069 19.32%
2009 $6,759 14.65%
2008 $6,894 14.92%

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: