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Ford Explorer Depreciation
A Ford Explorer will depreciate 56% after 5 years and have a 5 year resale value of $19,081.
Drive a new Ford Explorer off the lot, and your will lose over a 1/4 of its value in the first year alone. After 4 years, you will lose 1/2 its value. It's difficult to recommend an Explorer from a value perspective, as their prices just keep falling and falling. Our advice, just look elsewhere, unless you absolutely want to have an SUV that you can disguise as a patrol car.
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, 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.
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Ford Explorer Depreciation
| Years Old | Depreciation | Residual Value | Resale Value | Mileage | Resale Year |
|---|---|---|---|---|---|
| 1 | $11,150 | 74.12% | $31,932 | 13,500 | 2021 |
| 2 | $14,855 | 65.52% | $28,227 | 27,000 | 2022 |
| 3 | $17,284 | 59.88% | $25,798 | 40,500 | 2023 |
| 4 | $20,921 | 51.44% | $22,161 | 54,000 | 2024 |
| 5 | $24,001 | 44.29% | $19,081 | 67,500 | 2025 |
| 6 | $25,095 | 41.75% | $17,987 | 81,000 | 2026 |
| 7 | $27,616 | 35.90% | $15,466 | 94,500 | 2027 |
| 8 | $28,770 | 33.22% | $14,312 | 108,000 | 2028 |
| 9 | $30,028 | 30.30% | $13,054 | 121,500 | 2029 |
| 10 | $34,629 | 19.62% | $8,453 | 135,000 | 2030 |
| Years Old | Depreciation | Residual Value | Resale Value |
|---|---|---|---|
| 1 | $11,150 | 74.12% | $31,932 |
| 2 | $14,855 | 65.52% | $28,227 |
| 3 | $17,284 | 59.88% | $25,798 |
| 4 | $20,921 | 51.44% | $22,161 |
| 5 | $24,001 | 44.29% | $19,081 |
| 6 | $25,095 | 41.75% | $17,987 |
| 7 | $27,616 | 35.90% | $15,466 |
| 8 | $28,770 | 33.22% | $14,312 |
| 9 | $30,028 | 30.30% | $13,054 |
| 10 | $34,629 | 19.62% | $8,453 |
If you purchase a used Ford Explorer that is 2 years old, then you could save $14,855 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 $9,146. 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 2018 Ford Explorer is our top pick for the best model year value for the Explorer. With the 2018, you would only pay, on average, 66% of the price as new, with 83% of the vehicle's useful life remaining. The 2019 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 |
|---|---|---|---|---|---|---|---|
| 2020 | $43,082 | $43,082 | $241 | $0 | 0% | 100% | |
| 2019 | $42,033 | $31,442 | $289 | $11,640 | 27.02% | 74.12% | Better |
| 2018 | $41,079 | $27,294 | $380 | $4,148 | 13.19% | 65.52% | Best |
| 2017 | $41,872 | $25,592 | $517 | $1,702 | 6.24% | 59.88% | Good |
| 2016 | $41,743 | $22,079 | $608 | $3,513 | 13.73% | 51.44% | Better |
| 2015 | $38,732 | $17,948 | $792 | $4,131 | 18.71% | 44.29% | Good |
| 2014 | $34,710 | $15,617 | $1,127 | $2,331 | 12.99% | 41.75% | |
| 2013 | $33,834 | $13,434 | $1,286 | $2,183 | 13.98% | 35.9% | |
| 2012 | $33,016 | $12,358 | $1,391 | $1,076 | 8.01% | 33.22% | |
| 2011 | $33,889 | $11,869 | $1,601 | $489 | 3.96% | 30.3% | |
| 2010 | $32,793 | $8,081 | $1,647 | $3,788 | 31.92% | 19.62% | |
| 2009 | $32,578 | $7,050 | $1,899 | $1,031 | 12.76% | 15.81% | |
| 2008 | $30,502 | $6,865 | $2,256 | $185 | 2.62% | 15.11% |
| Year | Price | % Paid | Value Rank |
|---|---|---|---|
| 2020 | $43,082 | 100% | |
| 2019 | $31,442 | 74.12% | Better |
| 2018 | $27,294 | 65.52% | Best |
| 2017 | $25,592 | 59.88% | Good |
| 2016 | $22,079 | 51.44% | Better |
| 2015 | $17,948 | 44.29% | Good |
| 2014 | $15,617 | 41.75% | |
| 2013 | $13,434 | 35.9% | |
| 2012 | $12,358 | 33.22% | |
| 2011 | $11,869 | 30.3% | |
| 2010 | $8,081 | 19.62% | |
| 2009 | $7,050 | 15.81% | |
| 2008 | $6,865 | 15.11% |
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 April 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.
