Planning to trade in your Ford Explorer for a new vehicle? Whether you're upgrading to a newer Explorer or a different model, understanding its current market value is key. Here's what you should expect to get at the dealership and why.

The trade-in market for the Ford Explorer is split between two distinct eras. On one hand, you have the refined, performance-focused models from the current generation (2020-2024). On the other, the dependable family SUVs that were hugely popular throughout the 2010s.

The Performance Premium: 6th Generation (2020–2024)

The current lineup, led by the high-performance 400-hp ST trim, commands a premium. In 2026, a well-kept Explorer ST is in high demand among dealers due to the popularity of performance SUVs, resulting in slower depreciation. Similarly, the off-road Timberline trim (introduced in 2021) holds its value exceptionally well, often fetching about $2,000 more than the luxury Limited model thanks to its rugged appeal.

The Family Mainstay: 5th Generation (2011–2019)

For nearly a decade, this generation was the quintessential family SUV. In today's used market, models equipped with the 3.5L V6 engine are often preferred for their simplicity, helping older XLT or Limited trims maintain "Average" value. A major value differentiator is technology: 2017+ models with SYNC 3 infotainment (including Apple CarPlay/Android Auto) are significantly easier for dealers to sell, potentially adding $800–$1,200 to your trade-in offer.

Market Tip: The "Towing" Factor for Older Models

The 2010 model year, the last body-on-frame Explorer, has a niche following for light towing. If yours has the 4.6L V8, it may be worth more to a private buyer than a dealer's trade-in offer, as these are becoming rare budget tow vehicles.

Final Advice

Before trading in, address common issues for 5th-generation models, such as cabin exhaust odors or suspension noises. Dealers will deduct for these known problems. A clean inspection report from an independent mechanic can be a powerful tool to argue for a "Better than Average" valuation.