Ford Explorers have long been one of America’s favored mid-size SUVs, recognized for their robust performance, roomy interiors, and advanced technology. As new models roll onto dealership lots, prospective buyers can find previous models at reduced prices, making a Ford Explorer an even more appealing option. Here, we delve into the specifics of available Ford Explorers and explore how consumers can find value-packed deals without compromising on quality.
Understanding Ford Explorer Models and Price Drops
The Ford Explorer has been through several iterations, each improving on design, technology, and performance. The recent models, from 2017 through 2022, include new tech features, safety enhancements, and more efficient engine options. As new model years come into play, dealerships are eager to clear out older inventory, which often results in significant price reductions on these already value-rich vehicles.
For example, late model used Ford Explorers, such as those from 2020 or 2021, can often be found at prices reduced by as much as 10% to 20% compared to their original MSPR. These reductions could translate to savings of $4,000 to $8,000 depending on the specific model, trim, and the dealership’s inventory needs. The key for buyers is to monitor local dealership listings and promotions for the best deals.
The Benefits of Choosing Older Explorer Models
Opting for a model that is a few years old does not mean sacrificing quality. Ford Explorers from the last 3 to 5 years still often come with modern safety features like automatic emergency braking, lane-keeping assist, and adaptive cruise control. Additionally, many used Explorers feature Ford’s SYNC 3 infotainment system, a user-friendly interface that supports Apple CarPlay and Android Auto.
Furthermore, choosing a slightly older vehicle like a 2019 or 2020 Explorer might also offer more room for customization. Buyers could use the savings from the purchase to invest in enhancements such as upgraded sound systems, additional interior customizations, or even performance parts like enhanced suspension systems tailored to personal driving preferences.
Ford Explorer Depreciation and Long-Term Value
One aspect to consider when searching for a reduced-price Ford Explorer is the vehicle’s depreciation rate. Generally, new cars depreciate approximately 20-30% in the first year and about 60% over five years. However, the Explorer tends to hold its value slightly better than the average SUV, thanks to its strong brand reputation and high demand. This slower depreciation rate means purchasing a slightly used Explorer can be a great investment that continues to offer value over time.
Specifically, models that are about three years old strike a good balance between reduced cost and minimal depreciation. They also typically still have a portion of the original manufacturer’s warranty remaining, offering additional peace of mind to the buyer.
Current Market for Used Ford Explorers
The used car market has been volatile, influenced by new car production issues and increased consumer demand for affordable vehicles. This trend has somewhat affected the prices of used vehicles, including the Ford Explorer. However, due to increased inventory from lease returns and trade-ins, prices are beginning to stabilize, making it a good time to purchase a used Explorer.
For example, you might find a 2019 Ford Explorer XLT, originally priced at around $34,000 MSRP, now available for under $30,000. This kind of pricing is typical for three-year-old Explorer models, especially when stocked in higher quantities on lots.
Tips for Finding the Best Deals on Ford Explorers
To secure the best deal on a used or recent year Ford Explorer, potential buyers should consider a few strategies. It’s advisable to keep an eye on local dealership websites and listings on vehicle resale platforms. Subscribing to dealership newsletters can also alert buyers to sales and special promotions. Moreover, end-of-month or end-of-year sales can be an excellent opportunity to negotiate a better price, as dealers strive to meet sales goals.
Additionally, it’s recommended to arrange financing in advance. Pre-approved loans from banks or credit unions can give buyers a better negotiating position. However, dealers sometimes offer advantageous financing terms, so comparing options is crucial. Thoroughly inspecting the vehicle and checking its service history, or even opting for a certified pre-owned model, can further ensure value for money.
Conclusion
Extracting value while shopping for a Ford Explorer is entirely feasible, especially when considering models that are just a few years old. These vehicles strike an appealing balance between modern features and more accessible pricing, topped with the advantage of slower depreciation rates compared to newer cars. By staying informed about market trends and acting strategically during the purchase process, buyers can drive away in a dependable and satisfying Ford Explorer without breaking the bank.
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