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Ford Explorer Depreciation

A Ford Explorer will depreciate 37% after 5 years and have a 5 year resale value of $30,870.

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 $49,132 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 $3,140 93.61% $45,992 12,000 2022
2 $3,931 92.00% $45,201 24,000 2023
3 $8,814 82.06% $40,318 36,000 2024
4 $11,153 77.30% $37,979 48,000 2025
5 $18,262 62.83% $30,870 60,000 2026
6 $22,247 54.72% $26,885 72,000 2027
7 $25,274 48.56% $23,858 84,000 2028
8 $25,775 47.54% $23,357 96,000 2029
9 $28,359 42.28% $20,773 108,000 2030
10 $30,138 38.66% $18,994 120,000 2031

Ford Explorer Depreciation

Years Old Depreciation Residual Value Resale Value
1 $3,140 93.61% $45,992
2 $3,931 92.00% $45,201
3 $8,814 82.06% $40,318
4 $11,153 77.30% $37,979
5 $18,262 62.83% $30,870
6 $22,247 54.72% $26,885
7 $25,274 48.56% $23,858
8 $25,775 47.54% $23,357
9 $28,359 42.28% $20,773
10 $30,138 38.66% $18,994

Buying a Ford Explorer New vs Used

If you purchase a used Ford Explorer that is 2 years old, then you could save $3,931 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 $14,331. 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 $1,795 per year. This adds up to around $8,975 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 2021 Ford Explorer is our top pick for the best model year value for the Explorer. With the 2021, you would only pay, on average, 94% of the price as new, with 92% of the vehicle's useful life remaining. The 2017 and 2016 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
2022 $49,132 $49,132 $330 $0 0% 100%
2021 $49,053 $46,300 $381 $2,832 5.76% 93.61% Best
2020 $43,082 $39,635 $464 $6,665 14.4% 92%
2019 $42,033 $35,086 $595 $4,549 11.48% 82.06% Good
2018 $41,079 $32,458 $705 $2,628 7.49% 77.3%
2017 $41,872 $27,187 $877 $5,271 16.24% 62.83% Better
2016 $41,743 $24,067 $1,227 $3,120 11.48% 54.72% Better
2015 $38,732 $20,173 $1,366 $3,894 16.18% 48.56% Good
2014 $34,710 $17,995 $1,495 $2,178 10.8% 47.54%
2013 $33,834 $15,992 $1,687 $2,003 11.13% 42.28%
2012 $33,016 $14,477 $1,712 $1,515 9.47% 38.66%
2011 $33,889 $13,639 $1,917 $838 5.79% 34.59%
2010 $32,793 $9,795 $2,215 $3,844 28.18% 23.11%
Year Price % Paid Value Rank
2022 $49,132 100%
2021 $46,300 93.61% Best
2020 $39,635 92%
2019 $35,086 82.06% Good
2018 $32,458 77.3%
2017 $27,187 62.83% Better
2016 $24,067 54.72% Better
2015 $20,173 48.56% Good
2014 $17,995 47.54%
2013 $15,992 42.28%
2012 $14,477 38.66%
2011 $13,639 34.59%
2010 $9,795 23.11%

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: