Depreciation
The depreciation graph and accompanying table on our page detail how the 2020 FORD EXPLORER's price has changed annually.
For instance, while the car initially depreciated slightly in its first year, subsequent years show a significant decrease, reflecting market trends and vehicle condition over time.
Such precise data is crucial for understanding how age and market dynamics impact car values.
The average price for new (MSRP) 2020 FORD EXPLORER in 2020 was $43,180.
The average price for used 2020 FORD EXPLORER nowadays in 2024 is $28,998 which is 67% from the original price.
Estimated mileage driven per year is 10,414 miles.
The graph below is a depreciation curve for 2020 FORD EXPLORER. It shows how much this model looses per year in price. This analytics is calculated using sales records from BADVIN database.
The table below shows average price for used 2020 FORD EXPLORER in each year since the year of manufacturing, current year price and projected price in the future years.
You can scroll the table horizontally to see all columns.
| Year | Average Mileage | Average Price | % Left | % Lost | ||
|---|---|---|---|---|---|---|
| 2020 MSRP | 0 mi | $43,180 | — | — | 100% | 0% |
| 2020 | 10,414 mi | $46,166 | −$2,986 | −6.92% | 106.92% | -6.92% |
| 2021 | 20,828 mi | $38,000 | +$8,166 | +17.69% | 88% | 12% |
| 2022 | 31,242 mi | $34,383 | +$3,617 | +9.52% | 79.63% | 20.37% |
| 2023 | 41,656 mi | $30,995 | +$3,388 | +9.85% | 71.78% | 28.22% |
| 2024 | 52,070 mi | $28,998 | +$1,997 | +6.44% | 67.16% | 32.84% |
| 2025 | 62,484 mi | $23,988 | +$5,010 | +17.28% | 55.55% | 44.45% |
| 2026 | 72,898 mi | $21,500 | +$2,488 | +10.37% | 49.79% | 50.21% |
| 2027 | 83,312 mi | $18,995 | +$2,505 | +11.65% | 43.99% | 56.01% |
| 2028 | 93,726 mi | $16,999 | +$1,996 | +10.51% | 39.37% | 60.63% |
| 2029 | 104,140 mi | $15,000 | +$1,999 | +11.76% | 34.74% | 65.26% |
| 2030 | 114,554 mi | $13,800 | +$1,200 | +8% | 31.96% | 68.04% |
| 2031 | 124,968 mi | $11,973 | +$1,827 | +13.24% | 27.73% | 72.27% |
| 2032 | 135,382 mi | $11,163 | +$810 | +6.77% | 25.85% | 74.15% |
| 2033 | 145,796 mi | $10,000 | +$1,163 | +10.42% | 23.16% | 76.84% |
| 2034 | 156,210 mi | $9,786 | +$214 | +2.14% | 22.66% | 77.34% |
Price vs Mileage
Our comprehensive analysis does not stop at depreciation; it also covers how mileage affects the FORD EXPLORER’s price.
With data showing detailed price points at various mileage milestones, this section helps in identifying trends and making informed decisions.
For instance, price drops at higher mileages compared to lower mileages provides insights into potential maintenance or value thresholds.
This block is particularly useful for buyers and sellers aiming to gauge the best value proposition based on vehicle mileage.
The graph below shows how mileage affects the price for 2020 FORD EXPLORER. This data was calculated using sales records from BADVIN database.
The table below shows average price for used 2020 FORD EXPLORER by mileage and number of sales.
You can scroll the table horizontally to see all columns.
| Mileage | Average Price | Sample Size |
|---|---|---|
| 5,000 mi | $37,988 | 14 sales |
| 10,000 mi | $32,948 | 36 sales |
| 15,000 mi | $31,982 | 71 sales |
| 20,000 mi | $32,681 | 176 sales |
| 25,000 mi | $31,992 | 322 sales |
| 30,000 mi | $30,990 | 469 sales |
| 35,000 mi | $30,852 | 504 sales |
| 40,000 mi | $30,460 | 536 sales |
| 45,000 mi | $28,998 | 489 sales |
| 50,000 mi | $28,999 | 554 sales |
| 55,000 mi | $27,998 | 456 sales |
| 60,000 mi | $27,699 | 443 sales |
| 65,000 mi | $26,995 | 279 sales |
| 70,000 mi | $26,661 | 295 sales |
| 75,000 mi | $25,828 | 236 sales |
| 80,000 mi | $25,588 | 195 sales |
| 85,000 mi | $25,215 | 128 sales |
| 90,000 mi | $23,990 | 117 sales |
| 95,000 mi | $22,995 | 81 sales |
| 100,000 mi | $22,663 | 58 sales |
| 105,000 mi | $22,616 | 30 sales |
| 110,000 mi | $22,534 | 22 sales |
| 115,000 mi | $20,990 | 19 sales |
| 120,000 mi | $19,900 | 14 sales |
Frequently asked questions
Technology plays a significant role in the depreciation of vehicles, as models with outdated tech depreciate faster due to lower consumer demand for older features.
The market value of a vehicle is calculated based on its historical depreciation trends, current condition, mileage, and market trends.
Understanding depreciation is important for car owners to manage financial expectations and make informed decisions about selling or trading in their vehicles at the right time.
The average depreciation rate for vehicles over five years can vary, but many models experience a significant portion of their depreciation within the first few years of ownership.
Factors to consider when estimating the future resale value include the car's historical depreciation rate, current market trends, overall vehicle condition, and mileage.
To maximize value, consider buying a vehicle that is a few years old, as it has already undergone significant depreciation but likely remains reliable.
Advanced safety features can influence the resale value and slow the depreciation of vehicles by making them more attractive to safety-conscious buyers.
Strategies to reduce the rate of depreciation include regular maintenance, keeping mileage low, avoiding significant modifications, and keeping up with all necessary repairs.
Some models may depreciate faster due to factors like lower demand, higher maintenance costs, or outdated technology compared to newer versions.
The exterior and interior condition of vehicles significantly affects their depreciation, as well-maintained vehicles generally retain more value.
Other years of FORD EXPLORER
1995 FORD EXPLORER
$3,500 average used price
540+ sales records
2000 FORD EXPLORER
$4,000 average used price
3,100+ sales records
2017 FORD EXPLORER
$18,995 average used price
248,000+ sales records
2021 FORD EXPLORER
$30,995 average used price
160,100+ sales records
2022 FORD EXPLORER
$34,383 average used price
93,400+ sales records
2023 FORD EXPLORER
$38,000 average used price
4,500+ sales records
Similar Models
2022 FORD SUPER DUTY
$58,300 MSRP
50+ sales records
2023 FORD F-550
$54,190 MSRP
$79,449 average used price
190+ sales records
2023 FORD F-450
$82,715 MSRP
$89,474 average used price
680+ sales records
2023 FORD F650
$63,375 MSRP
10+ sales records
2023 FORD E-450
$33,850 MSRP
10+ sales records
2023 FORD TRANSIT
$40,890 MSRP
$47,983 average used price
1,700+ sales records
