How Well Do Ford Explorers Hold Their Value? Learn More!
The Ford Explorer has always been a top choice among midsize SUVs, and for good reason. The popular SUV from the Blue Oval brand offers a balance of performance, comfort, and features. However, understanding the costs associated with ownership, including depreciation, insurance, maintenance, and financing, is essential for making an informed purchasing decision. Follow along to learn more about the Ford Explorer cost and head to Portsmouth Used Car Center for a test drive today!
Costs of Ownership
The base price of a new Ford Explorer typically ranges from $48,000 to $51,000, depending on the model year and trim level. Over five years, the total cost of ownership can reach $59,000 to $75,000. This figure includes depreciation, insurance, maintenance, and financing expenses. Speak with our finance team to gain insight on your potential Ford Explorer monthly payment!
Depreciation Factors
Depreciation is one of the most substantial costs of vehicle ownership.
- Factors such as model year, trim level, and overall condition of the vehicle impact depreciation.
- The Ford Explorer’s depreciation rate is comparable to other midsize SUVs, but its resale value remains strong due to its reputation for reliability.
While Ford Explorer depreciation is unavoidable, balancing it out with other ownership costs is important.
Ford Explorer Insurance Cost
The insurance cost for a Ford Explorer over five years typically ranges from $4,000 to $11,000.
- The average Ford Explorer cost can vary depending on factors including your location, driving history, and coverage levels.
- Shopping around and comparing insurance quotes can aid you in finding the best rates.
- Factoring in insurance costs is essential when calculating the total cost of ownership.
Ford Explorer Maintenance Cost
Maintenance and repair expenses for the Ford Explorer are relatively average compared to other SUVs.
- Expect maintenance costs of about $3,000 to $4,000 over five years.
- Regularly scheduled maintenance, such as oil changes, brake inspections, and tire rotations, can help prevent costly repairs down the road.
- Extended warranties can bring you added peace of mind and protect against unexpected repair Ford Explorer costs.
Buying a Used Ford Explorer: Tips and Considerations
Purchasing a used Ford Explorer from our top-tier inventory is a cost-effective option.
- Used models often offer significant savings compared to new ones.
- Thorough research and vehicle inspection are essential before making a purchase.
- Consider certified pre-owned (CPO) options, otherwise known as Ford Blue Advantage models, for added peace of mind and warranty coverage.
Ford Explorer Resale Trends
The Ford Explorer has consistently ranked as one of the best SUVs in terms of resale value.
- Historical data shows that the Ford Explorer retains its value well over time.
- Its resale value is supported by its reputation for reliability and durability.
- Understanding these trends can help buyers make smarter purchase decisions.
Ford Explorer Interest Rates
Interest rates for financing a Ford Explorer will always fluctuate with the market. To secure the best rates:
- Monitor market trends and compare offers from different lenders.
- Consider pre-approval from financial institutions.
- A stellar credit score can significantly impact the Ford Explorer interest rates offered.
Ford Explorer’s Resale Value Compared to Other SUVs
The Ford Explorer’s resale value is comparable to other midsize SUVs but remains strong due to several factors:
- Its reputation for reliability and durability supports its resale value.
- High demand in the used car market further boosts its value.
- Understanding these aspects can help buyers maximize their investment.
Finding the Right Ford Explorer: Research and Inspection Tips
Before purchasing a used Ford Explorer, follow these steps:
- Research the Vehicle’s History: Look for accident reports and maintenance records.
- Inspect Thoroughly: Check for signs of damage or wear.
- Test Drive: Ensure the vehicle meets your performance and comfort expectations.
- Walk Away if Necessary: If the vehicle doesn’t meet your criteria, don’t hesitate to explore other options.
Ready to Explore Your Options?
By understanding the Ford Explorer cost breakdown and following our top tips, you can make a well-informed purchase decision that meets your financial and driving needs. Begin browsing our Ford Explorers in stock and head to Portsmouth Used Car Center to get behind the wheel for a test drive!
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