The Ford Explorer has undoubtedly been one of the most popular automotive choices for families across the country for decades. Known most for its roomy interior, advanced safety features, and solid overall performance, it should be no surprise that the Explorer still remains one of Ford’s top-selling SUVs today.

As with any long-term investment, though, many potential buyers wonder how long this vehicle holds its value and what its total costs of ownership over its life will be. By breaking down standard depreciation trends, average maintenance costs, and the trade-offs between buying new versus used, you can gain an understanding of these aforementioned factors.

Ford Explorer Depreciation by Model Year

All vehicles lose value over time due to depreciation, which is just the reduction in value from the time of purchase to the current point in time due to factors such as wear and tear, age, mileage, and more. While all cars can vary marginally, the average vehicle depreciation schedule doesn’t stray too far off the norm from car to car:

• 0-2 Years Old: Your car will lose nearly 30% of its value during the first two years of ownership, with about 15%-20% of that occurring the second it is driven off of the lot.
• 3 Years Old: During the third year of ownership, you can expect your vehicle to lose an additional 10%, bringing its total value to around 60% of the original value.
• 5 Years Old: From the time of the third year to the fifth year, your Explorer will likely lose another 15% incrementally, bringing it to around 45% of the original value.

It’s worth noting that Ford Explorers made from 2020-2022 often depreciate faster due to higher initial price points and Covid-era production issues, whereas models from 2016-2019 have shown more stable depreciation curves. Remember that depreciation isn’t necessarily a bad thing, as it creates opportunities for used-car buyers to find high-quality vehicles at reduced prices, meaning you can still sell your vehicle.

Average Maintenance Costs for a Ford Explorer

When trying to calculate the long-term cost of vehicle ownership for your Ford Explorer, balanced against the depreciation in value, you need to look at the average maintenance costs. This is another major long-term factor. On an average basis, you can expect a Ford Explorer to have around $732 in annual average repair costs, depending on its age, mileage, and where you live. Some of the items that contribute to this overall number include:

1. Radiator Fan Clutch Replacement: $383-$463
2. Coolant Leak Diagnosis: $61-$90
3. Cabin Air Filter Replacement: $78-$107
4. Clutch Replacement: $1,143-$1,411
5. Backup Warning System Sensor Replacement: $424-$489

Every Ford Explorer is unique, though, which means that yours may not experience the same issues as others. Maintenance costs also tend to spike after the 100,000-mile mark on a car, particularly for older models, which is something to be aware of. While major repairs aren’t often reported, some owners have listed higher costs of repairs being attributed to faulty electronic features like infotainment issues, ADAS sensors, and more.

Comparing New vs. Used Ford Explorer Ownership Costs

Should you find yourself torn between the decision of purchasing a used Ford Explorer or a new Ford Explorer, you are essentially balancing depreciation against maintenance. For your own comparison, consider a brand new Ford Explorer to be any that was manufactured within the last three years. Depreciation will be relatively minimal at this level, with a valuation of around $10,000-$15,000. You most likely won’t have maintenance costs for a couple of years either, as there tends to be a manufacturer’s warranty attached to the vehicle.

On the other hand, if you choose to go with a certified pre-owned Ford Explorer, the higher depreciation rate means a lower purchase price, perhaps somewhere in the range of $15,000-$25,000 if it’s five to seven years old. However, manufacturer warranties typically expire at this point, which means you may be on the hook for the average annual repair cost of around $730 or so.

How Reliability Impacts Long-Term Costs

Keep in mind that reliability and durability play a major role in total ownership costs, especially once a car gets beyond 100,000 miles. The Ford Explorer has an overall mixed reputation for its reliability, depending on the generation to which it belongs.

For perspective, the 2025 Ford Explorer received an 8.7 out of 10.0 rating from the U.S. News & World Report, allowing it to rank 14th for midsize SUVs. To determine how reliable your current Ford Explorer is, or if you are considering one, below are some callouts for each generation:

• 2011–2015 (5th gen): This generation is noted for having transmission issues and electronic glitches occasionally
• 2016–2019 (6th gen pre-refresh): Note for improved overall reliability with fewer recalls across the market
• 2020–2022 (6th gen refresh): This era gets mixed reviews due to quality control issues during the early pandemic production window
• 2023–2025: The most recent generation is still too new for long-term reliability data, but early reports are promising, as evident by the aforementioned reliability rating

Any owners who maintain their Ford Explorer are also likely to see better reliability outcomes in the long term. Large SUVs, though, tend to encounter more wear and tear on the suspension and drivetrain components due to their size and family-use demands.

Best Model Years for Ford Explorer Depreciation

When hunting for the sweet spot where overall cost, depreciation, and reliability intersect, the answer often comes down to personal judgment. However, there are two Ford Explorer year ranges that stand out in particular:

1. 2017-2019 Ford Explorer: Being a part of the 6th generation pre-refresh, these Explorers strike a nice balance between modern tech features, improved reliability, and significant depreciation, meaning you can find a reliable model for around $25,000 or less.
2. 2014-2015 Ford Explorer: At this age, these models have fully depreciated, but it allows them to be very cost-effective for those seeking a tight budget, especially if majors repairs have already been handled by the former owners.

How Endurance Plans Can Offset Ford Explorer Repair Costs

As mentioned, one of the primary downsides to the long-term used Ford Explorer cost is that the manufacturer’s warranty is likely expired. However, one way you can counteract this is to invest in an extended warranty or vehicle protection plan. Endurance is a leading provider of auto protection plans, specializing in offering customizable coverage for vehicles exactly like a Ford Explorer.

Some of the key ways an Endurance contract can offset the repair costs of your Ford model include:

• Offering coverage for expensive repairs related to the engine options, transmission, electrical system, air conditioning, suspension, and more
• Providing standard perks such as 24/7 roadside assistance, rental car reimbursement, and trip interruption benefits
• Transferable coverage to a new vehicle owner if you sell, dependent on your contract, can add further resale value to your Explorer if you plan to sell it to another person down the road

Endurance has three flagship plans: the Superior, Supreme, and Secure Plus plans. Each offers varying levels of coverage, ranging from high-level stated protection to protection similar to that offered by manufacturers on a new car, which can be customized to suit your needs. Therefore, depending on the level of use of your vehicle, you can get exactly the right protection.

Protect Your Investment in a Ford Explorer

The Ford Explorer continues to be a family favorite vehicle due to its reliability, versatility, comfort, and capability. From a financial perspective, though, you must balance depreciation with maintenance costs to determine which model year is right for your needs.

Whether you’re looking for a reliable SUV for school drop-offs or a hearty one for off-road journeys, understanding the long-term costs is crucial. Endurance can help mitigate some of those costs with one of our comprehensive auto protection plans. Reach out to one of our plan advisors at (800) 253-8203 or request a FREE quote. You can also see your price and plan recommendations now on our eStore.

You can read more helpful articles or FAQs on other models, such as the Ford Escape and Ford F-150, on the Endurance blog.