Ford Explorer Depreciation

A Ford Explorer will depreciate 52% after 5 years and have a 5 year resale value of $21,053.

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 $7,208 83.47% $36,399 12,000 2022
2 $13,784 68.39% $29,823 24,000 2023
3 $14,460 66.84% $29,147 36,000 2024
4 $17,643 59.54% $25,964 48,000 2025
5 $22,554 48.28% $21,053 60,000 2026
6 $24,586 43.62% $19,021 72,000 2027
7 $24,882 42.94% $18,725 84,000 2028
8 $27,634 36.63% $15,973 96,000 2029
9 $29,692 31.91% $13,915 108,000 2030
10 $29,849 31.55% $13,758 120,000 2031

Ford Explorer Depreciation

Years Old Depreciation Residual Value Resale Value
1 $7,208 83.47% $36,399
2 $13,784 68.39% $29,823
3 $14,460 66.84% $29,147
4 $17,643 59.54% $25,964
5 $22,554 48.28% $21,053
6 $24,586 43.62% $19,021
7 $24,882 42.94% $18,725
8 $27,634 36.63% $15,973
9 $29,692 31.91% $13,915
10 $29,849 31.55% $13,758

Buying a Ford Explorer New vs Used

If you purchase a used Ford Explorer that is 2 years old, then you could save $13,784 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 $8,770. 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.

What About Ford Explorer Insurance Costs?

The average cost to insure a Ford Explorer is about $1,644 per year. This adds up to around $8,220 after 5 years of vehicle ownership. Unlike depreciation, this expense can often be lowered by shopping around for lower insurance premiums. Comparing quotes will ensure that you are not overpaying if you already own a Ford Explorer. Or, if you are just researching, then it would be money-wise to know this cost before buying. Try our Competitive Quote Tool or the form below to get free quotes. Advertising Disclosure

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, 68% 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 $319 $0 0% 100%
2020 $43,082 $36,331 $370 $7,276 16.69% 83.47% Better
2019 $42,033 $29,201 $453 $7,130 19.63% 68.39% Best
2018 $41,079 $28,041 $584 $1,160 3.97% 66.84% Good
2017 $41,872 $25,623 $694 $2,418 8.62% 59.54% Good
2016 $41,743 $21,018 $866 $4,605 17.97% 48.28% Better
2015 $38,732 $18,110 $1,216 $2,908 13.84% 43.62%
2014 $34,710 $16,259 $1,355 $1,851 10.22% 42.94%
2013 $33,834 $13,877 $1,484 $2,382 14.65% 36.63%
2012 $33,016 $12,211 $1,676 $1,666 12.01% 31.91%
2011 $33,889 $12,391 $1,700 +$180 -1.47% 31.55%
2010 $32,793 $7,766 $1,906 $4,625 37.33% 17.87%
2009 $32,578 $7,184 $2,204 $582 7.49% 15.29%
Year Price % Paid Value Rank
2021 $43,607 100%
2020 $36,331 83.47% Better
2019 $29,201 68.39% Best
2018 $28,041 66.84% Good
2017 $25,623 59.54% Good
2016 $21,018 48.28% Better
2015 $18,110 43.62%
2014 $16,259 42.94%
2013 $13,877 36.63%
2012 $12,211 31.91%
2011 $12,391 31.55%
2010 $7,766 17.87%
2009 $7,184 15.29%

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: