How Much Is a New Ford Explorer?

The Ford Explorer is one of the most popular midsize SUVs on the market, offering a blend of spaciousness, performance, and advanced technology. If you’re considering purchasing a new Ford Explorer, understanding its price, the factors that influence it, and how it compares to competitors is essential for making an informed decision. In this article, we will explore the pricing of the Ford Explorer, factors affecting its cost, how it fares against competitors, and its long-term value.

Ford Explorer Pricing Overview

The price of a new Ford Explorer varies based on trim levels and optional features. The 2024 Ford Explorer lineup includes several trims catering to different preferences and budgets:

• Ford Explorer Base: Starting at around $37,000, this entry-level model comes with essential features like a turbocharged 2.3-liter four-cylinder engine and an 8-inch touchscreen infotainment system.
• Ford Explorer XLT: Priced from approximately $39,000, this trim adds comfort upgrades such as power-adjustable front seats and additional driver-assistance features.
• Ford Explorer Limited: Starting around $48,000, the Limited trim includes leather upholstery, a larger 12.3-inch digital instrument cluster, and advanced technology like a hands-free liftgate.
• Ford Explorer ST: At a starting price of around $56,000, this performance-oriented trim boasts a powerful 3.0-liter turbocharged V6 engine and sport-tuned suspension.
• Ford Explorer Platinum: The top-of-the-line Platinum trim starts at approximately $58,000, featuring premium materials and advanced technology.

Prices can vary based on location, dealer promotions, and additional options, but this range provides a general idea of what to expect when purchasing a new Ford Explorer.

Factors Affecting Ford Explorer Price

Several factors influence the price of a new Ford Explorer beyond the base trim price:

1. Optional Features and Packages: Ford offers various optional features and packages that can significantly impact the final price. Upgrades like all-wheel drive (AWD), premium sound systems, and advanced safety features can add thousands of dollars.
2. Regional Price Differences: The cost of the Ford Explorer can vary by region due to demand, local taxes, and dealer pricing. Some dealerships may offer better discounts or incentives than others.
3. Incentives and Special Offers: Ford frequently provides incentives such as cashback offers and low-interest financing. These promotions can help reduce the overall cost.
4. Financing and Leasing Options: Your choice between buying and leasing affects the price. Leasing usually involves lower monthly payments, but long-term costs must be considered if you plan to own the vehicle outright.

Ford Explorer vs. Competitor Pricing

When comparing the price of the Ford Explorer to its competitors, it’s important to consider what each vehicle offers:

• Toyota Highlander: The Highlander, with a starting price around $39,000, offers similar features but leans more towards family-friendliness.
• Honda Pilot: Starting at about $38,000, the Pilot emphasizes space and comfort, while the Explorer delivers a sportier driving experience.
• Chevrolet Traverse: The Traverse starts at around $36,000 and provides more cargo space, but the Explorer excels in technology features.
• Jeep Grand Cherokee: Priced similarly at approximately $40,000, the Grand Cherokee focuses on off-road capability, while the Explorer is better for everyday urban driving.

Overall, the Ford Explorer holds its own against these competitors, offering a strong balance of performance and technology at competitive prices.

Long-term Value of Ford Explorer

Considering the long-term value of a vehicle is crucial when making a purchase. The Ford Explorer tends to hold its value well, making it a solid choice for buyers concerned about resale value and ownership costs.

1. Resale Value: The Explorer has historically maintained strong resale value, particularly for higher trims with advanced features. Owners can expect to recoup a significant portion of their investment when selling or trading in the vehicle.
2. Depreciation Rate: While all vehicles experience depreciation, the Explorer’s rate is generally slower than some competitors, thanks to its reliability and popularity.
3. Reliability: The Ford Explorer is regarded as a reliable vehicle, especially in recent model years. With proper maintenance, it can easily surpass 100,000 miles, enhancing its long-term value.
4. New vs. Used: While buying a new Ford Explorer ensures you get the latest features, some buyers may opt for certified pre-owned (CPO) models to save on costs. CPO vehicles offer warranties and have passed inspections, providing a middle ground between new and used options.

Conclusion

The cost of a new Ford Explorer depends on several factors, including trim levels, optional features, regional pricing, and available incentives. Compared to its competitors, the Explorer offers a strong balance of performance, technology, and value, making it a solid choice in the midsize SUV segment. With a reputation for reliability and a strong resale value, the Ford Explorer represents a smart investment for those seeking a versatile family SUV with long-term appeal.

If you’re ready to explore the Ford Explorer further, visit Corwin Ford Reno to check out their latest inventory and offers!