- Share
Ford Explorer Depreciation
A Ford Explorer will depreciate 55% after 5 years and have a 5 year resale value of $19,219.
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, and assumes a purchase price of $43,082 when new. Key in your purchase price, expected ownership period and estimated annual miles driven into our depreciation calculator, and we'll predict an expected resale value just for you.
- Share
Ford Explorer Depreciation
| Years Old | Depreciation | Residual Value | Resale Value | Mileage | Resale Year |
|---|---|---|---|---|---|
| 1 | $11,339 | 73.68% | $31,743 | 13,500 | 2021 |
| 2 | $13,114 | 69.56% | $29,968 | 27,000 | 2022 |
| 3 | $15,833 | 63.25% | $27,249 | 40,500 | 2023 |
| 4 | $21,222 | 50.74% | $21,860 | 54,000 | 2024 |
| 5 | $23,863 | 44.61% | $19,219 | 67,500 | 2025 |
| 6 | $24,544 | 43.03% | $18,538 | 81,000 | 2026 |
| 7 | $26,896 | 37.57% | $16,186 | 94,500 | 2027 |
| 8 | $27,956 | 35.11% | $15,126 | 108,000 | 2028 |
| 9 | $29,563 | 31.38% | $13,519 | 121,500 | 2029 |
| 10 | $34,647 | 19.58% | $8,435 | 135,000 | 2030 |
| Years Old | Depreciation | Residual Value | Resale Value |
|---|---|---|---|
| 1 | $11,339 | 73.68% | $31,743 |
| 2 | $13,114 | 69.56% | $29,968 |
| 3 | $15,833 | 63.25% | $27,249 |
| 4 | $21,222 | 50.74% | $21,860 |
| 5 | $23,863 | 44.61% | $19,219 |
| 6 | $24,544 | 43.03% | $18,538 |
| 7 | $26,896 | 37.57% | $16,186 |
| 8 | $27,956 | 35.11% | $15,126 |
| 9 | $29,563 | 31.38% | $13,519 |
| 10 | $34,647 | 19.58% | $8,435 |
If you purchase a used Ford Explorer that is 2 years old, then you could save $13,114 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 $10,749. 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, 74% 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 | $241 | $0 | 0% | 100% | |
| 2019 | $42,033 | $31,261 | $289 | $11,821 | 27.44% | 73.68% | Best |
| 2018 | $41,079 | $28,956 | $380 | $2,305 | 7.37% | 69.56% | Better |
| 2017 | $41,872 | $27,000 | $517 | $1,956 | 6.76% | 63.25% | Good |
| 2016 | $41,743 | $21,789 | $608 | $5,211 | 19.3% | 50.74% | Better |
| 2015 | $38,732 | $18,072 | $792 | $3,717 | 17.06% | 44.61% | Good |
| 2014 | $34,710 | $16,061 | $1,127 | $2,011 | 11.13% | 43.03% | |
| 2013 | $33,834 | $13,997 | $1,286 | $2,064 | 12.85% | 37.57% | |
| 2012 | $33,016 | $12,984 | $1,391 | $1,013 | 7.24% | 35.11% | |
| 2011 | $33,889 | $12,237 | $1,601 | $747 | 5.75% | 31.38% | |
| 2010 | $32,793 | $8,069 | $1,647 | $4,168 | 34.06% | 19.58% | |
| 2009 | $32,578 | $6,759 | $1,899 | $1,310 | 16.23% | 14.92% | |
| 2008 | $30,502 | $6,894 | $2,256 | +$135 | -2% | 15.21% |
| Year | Price | % Paid | Value Rank |
|---|---|---|---|
| 2020 | $43,082 | 100% | |
| 2019 | $31,261 | 73.68% | Best |
| 2018 | $28,956 | 69.56% | Better |
| 2017 | $27,000 | 63.25% | Good |
| 2016 | $21,789 | 50.74% | Better |
| 2015 | $18,072 | 44.61% | Good |
| 2014 | $16,061 | 43.03% | |
| 2013 | $13,997 | 37.57% | |
| 2012 | $12,984 | 35.11% | |
| 2011 | $12,237 | 31.38% | |
| 2010 | $8,069 | 19.58% | |
| 2009 | $6,759 | 14.92% | |
| 2008 | $6,894 | 15.21% |
About Our Data and "Useful Lifespan"
We aggregate and analyze millions of automotive data points from a variety of sources, including some of the industry's leading data providers. The historical depreciation tables, charts, values and overall rankings are conducted on a semi-annual basis, with our most recent update published in September 2020.
While the "Useful Lifespan" of a vehicle will vary greatly from one model to the next, and even one owner to the next, we have determined that twelve years is the most appropriate timeframe which will yield us good, usable data - and that any data beyond that timeframe becomes more dispersed, and ultimately less reliable. Moreover, maintenance costs beyond that timeframe become significantly more varied, as a vehicle owner's care of a particular vehicle will greatly impact its value, and ongoing maintenance costs. We are very much hopeful, however, that your car or truck will last well beyond twelve years, and that it gets you to where you want to go.
If you would like to know more about our data and process, check out our FAQ here.
