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 |
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: