Ford Explorer Cost: The Pricing & Ownership Expenses
The 2024 Ford Explorer is a midsize SUV that offers versatility and performance. Before purchasing a new Ford Explorer, it’s important to understand the total cost of ownership. This includes the purchase price, insurance, depreciation, and maintenance costs. Crossroads Ford of Kernersville provides a comprehensive guide to help you make an informed decision.
Initial Purchase Price & Incentives
The Ford Explorer has a starting price range of around $48,000 to $51,000. The final cost depends on the trim level, options, and model year. Dealerships often offer incentives and discounts to lower the purchase price. When negotiating, consider the invoice price, current market value, and available rebates. Additionally, the initial purchase price can significantly impact the Ford Explorer’s resale value over time, affecting how much it retains after ownership for a number of years.
Numerous Features to Enjoy: The Specs
The Ford Explorer offers a 13.2-in. touchscreen infotainment system, a redesigned dashboard, and a standard third-row seat. The infotainment system allows users to stream videos from YouTube while the vehicle is parked. Engine options range from a 2.3L turbocharged 4-cylinder to a 3.0L twin-turbo V6. The 2.3L engine delivers 300 horsepower and 310 lb.-ft. of torque, while the 3.0L engine delivers 400 horsepower and 415 lb.-ft. of torque. Both engines are paired with a 10-speed automatic transmission and are available in rear-wheel drive or all-wheel drive configurations.
The 2025 Ford Explorer’s fuel economy lets you cover more distance at an EPA-estimated 21 MPG in the city and 28 MPG on the highway. However, keep in mind that the specific fuel economy of your next ride will depend on more factors including driving conditions and your driving style. The cost of fuel is another crucial expense to consider.
The Ford Explorer can achieve a maximum towing capacity of up to 5,000 lbs., letting you optimize your SUV’s versatility. This is perfect for towing small to medium-sized trailers. However, towing heavy loads can lead to increased wear and tear, affecting depreciation and maintenance costs.
Ford Co-Pilot360® offers various safety features, including a Blind-Spot Monitoring system, Lane Departure Warning, and Forward Collision Warning, to assist you when you need it.
Choosing the Right Ford Explorer for Your Needs
Selecting the perfect Ford Explorer for your needs involves several key considerations. Here are some tips to help you make an informed decision.
Determine Your Budget: Start by considering your purchase price, monthly payment, and interest rates. Knowing these will give you insight into how much you can afford to spend on a Ford Explorer.
Assess Your Needs: Think about how you plan to use your Ford Explorer. If it’s primarily for daily commuting, a base model might suffice. However, if you need a vehicle for off-road adventures or towing, you might want to opt for a higher trim level.
Research Different Model Years: Compare depreciation rates, maintenance costs, and resale values for different model years. This will help you find the best value for your money.
Test-Drive Different Trims: Take various trim levels for a test drive to see which one best suits your needs and preferences.
Consider Certified Pre-Owned Options: If you’re looking for a used Ford Explorer, consider certified pre-owned options. These vehicles have been thoroughly inspected across numerous categories by professionals, offering added peace of mind.
By taking these factors into account, you can choose the right Ford Explorer that fits your needs and budget, ensuring you get the best value for your money.
Five Years of Ownership: The Costs Involved
The Ford Explorer’s estimated five-year cost is between $59,000 and $75,000. This includes depreciation, taxes, fees, financing, and insurance. Comparing the Ford Explorer’s costs with other cars over five years, as well as with other SUVs and midsize SUVs, can provide a broader market context. Using an online calculator and comparing costs with similar vehicles can help you make a more informed decision.
The Cost of Insurance & Maintenance
Insurance for a Ford Explorer costs around $4,000 to $11,000 for five years. The cost varies based on trim level, options, and driving history. Shop around for the best rates and consider bundling policies. If you’d like to stick to branded coverage, Ford offers Ford Insure for all your needs.
In five years of ownership, maintenance costs for the Ford Explorer can range from $3,000 to $4,000, but repair costs can fluctuate depending on the vehicle’s age, mileage, and specific issues. If you consider extended warranties, they’ll help protect you from unexpected repairs. Additionally, researching the reliability and durability of the Ford Explorer can help you anticipate potential long-term costs.
Extra Protection: Warranty & Extended Warranty
Ford offers a 3-year/36,000-mile basic warranty and a 5-year/60,000-mile powertrain warranty. This coverage can reduce the overall cost of ownership. If you’re concerned about future maintenance costs, consider Ford Protect, an extended warranty program with packages that are tailored specifically to your needs with plans that cover theft, dents, tires, vehicle components, and so much more.
Own Your Ford Explorer Today
The Ford Explorer is a versatile midsize SUV with a range of features and options. When you’re looking to buy one, consider maintenance costs, insurance expenses, and overall value to ensure you’re making the best choice for you. By researching these, as well as the Ford Explorer’s features, trim levels, and depreciation rate, you’re guaranteed to find your perfect match. That being said, the overall cost of owning this SUV after five years is around $59,000 to $75,000. Now that you’re more familiar with the cost of owning a Ford Explorer, visit Crossroads Ford of Kernersville for a test drive today!
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