2023 Ford Explorer Depreciation
A 3-year-old 2023 Ford Explorer has lost about 30.7% of its roughly $40,570 original value. In the 2026 source cohort, it typically listed for around $30,969, with most listings between $26,438 and $36,903. Listed examples average 42,920 miles.
2023 Ford Explorer Price by Mileage
What buyers actually pay at different odometer readings.
How Mileage Affects 2023 Ford Explorer Price
Each dot is a real listing — price plotted against odometer reading.
| Mileage | Median price | Listings |
|---|---|---|
| Under 30k mi | $32,998 | 72 |
| 30k–50k mi | $31,399 | 97 |
| 50k–75k mi | $27,988 | 62 |
| 75k–100k mi | $24,296 | 14 |
What's a Good Price for a 2023 Ford Explorer?
Great deal
Under $27,831
Typical
$27,831–$33,990
Overpriced
Above $33,990
Based on the middle 50% of listings — always adjust for mileage and condition.
Price Spread
Range across 247 listings.
Half of all listings fall between $27,831 and $33,990, with a median of $30,895.
Ownership & Condition
Across 247 2023 Ford Explorer listings.
Accident-free
76.3%
One-owner
60.5%
Avg owners
1.4
Personal use
26.3%
2023 Ford Explorer Efficiency & Specs
EPA fuel-economy and powertrain data.
Combined
21 MPG
City / Hwy
18 / 25
Fuel / year
$2,950
Fuel
Regular
Engine
3.0L 6-cyl
EPA class
Standard Sport Utility Vehicle 4WD
Depreciation by Trim
See how each 2023 Ford Explorer trim holds its value.
How the 2023 Ford Explorer Compares to Other Years
At 30.7% depreciation, the 2023 Ford Explorer sits among its neighbors on the depreciation curve. The one-year-newer 2024 has lost 22.8% (around $34,562), so stepping up a model year costs roughly $3,593 more. The older 2022 sits at 35.9% (around $28,075), so dropping back a year saves about $2,894. Buying one model year newer or older is one of the easiest ways to trade purchase price against age and remaining warranty.
Safety Ratings
NHTSA crash test ratings for the 2023 Ford Explorer.
Known Issues & Complaints
99 NHTSA complaints, 14 recalls reported.
UNKNOWN OR OTHER
18 complaintsThe chrome/ brushed finish peeling along the top of the center console, resulting in sharp edges. The vehicle is just outside of bumper to bumper warranty and the fix is out of pocket. Vehicle current has 55k miles on it, and bubbling down
STEERING
12 complaintsMy 2023 Ford Explorer (VIN: [XXX] ) has a persistent front suspension clunk/rattle/knock when driving over small bumps or uneven pavement at low speeds (8–20 mph). The noise is repeatable and has progressively worsened. It matches the condi
POWER TRAIN
10 complaintsVehicle: 2023 Ford Explorer ST VIN: [XXX] I am reporting ongoing safety-related powertrain and drivability defects that continue despite numerous repair attempts, including complete engine and transmission replacement. Since approximately J
ELECTRICAL SYSTEM
9 complaintsThe contact owned a 2023 Ford Explorer. When the contact’s husband activated the air conditioning system after the vehicle had been parked for several hours, a fire started underneath the console inside the vehicle. The driver pulled over t
STRUCTURE
8 complaintsSunroof retractable headliner
SUSPENSION
7 complaintsPremature leaking and failure on rear shocks absorbers. Premature failure could lead to handling issues and interference with driver assist handling, action control etc. Some say this is a know issue but not one that has prompted a recall
Top Issues
- UNKNOWN OR OTHER
- STEERING
- POWER TRAIN
- ELECTRICAL SYSTEM
- STRUCTURE
Buyer Red Flags
- !Recall 23V022000 (BACK OVER PREVENTION): Ford Motor Company (Ford) is recalling certain 2020-2023 Explorer, Lincoln Aviator, and 2020-2022 Lincoln Corsair vehicles equipped with a 360-degree camera. The video output may f
- !Recall 23V070000 (POWER TRAIN): Ford Motor Company (Ford) is recalling certain 2022-2023 F-150, Mustang, Explorer, Bronco, and 2023 Lincoln Aviator vehicles equipped with automatic transmissions. The transmission
- !Recall 23V342000 (BACK OVER PREVENTION): Ford Motor Company (Ford) is recalling certain 2020-2023 Explorer, Lincoln Aviator, and 2020-2022 Lincoln Corsair vehicles equipped with a 360-degree camera. The video output may f
- !Recall 23V597000 (ENGINE AND ENGINE COOLING): Ford Motor Company (Ford) is recalling certain 2023 Explorer vehicles equipped with 2.3L GTDI engines. The turbocharger oil supply line may be damaged, which can result in an oil l
2023 Ford Explorer Listings
Real 2023 Explorer listings on the market now.
$34,590
2023 XLT · Red
10,377 mi · Columbus, OH
View listing →
$33,990
2023 XLT · Black
19,020 mi · Columbus, OH
View listing →
$32,990
2023 XLT · Gray
20,080 mi · Richmond, VA
View listing →
$34,990
2023 XLT · Black
21,847 mi · Richmond, VA
View listing →
$35,990
2023 ST-Line · Red
27,273 mi · Dallas, TX
View listing →
$31,590
2023 XLT · Gray
27,285 mi · Birmingham, AL
View listing →
Live dealer listings, refreshed periodically. Prices and availability change.
Frequently Asked Questions
How much is a 2023 Ford Explorer worth?
A 2023 Ford Explorer is typically worth around $30,969, with most listings falling between $26,438 and $36,903. The single biggest swing factor is mileage — listed examples average about 42,920 miles, and each additional 10,000 miles shaves a few percent off the price. Condition, accident history, trim, and how many owners a car has had move the number from there. Treat the median as a fair starting point and adjust up for a clean, low-mileage, one-owner car or down for higher mileage and any reported damage.
How much has the 2023 Ford Explorer depreciated?
The 2023 Ford Explorer has lost about 30.7% of its original $40,570 base MSRP — roughly $12,455 in value, after adjusting listing prices to typical mileage for the age. Most of a car's lifetime depreciation happens in its earliest years, so a vehicle of this age has usually weathered the steepest part of the curve already. That's what makes a well-kept example at this age an efficient buy: you let the original owner absorb the fastest depreciation, then enjoy a much slower decline from here.
How many miles does a used 2023 Explorer have?
Listed 2023 Explorers average about 42,920 miles, with most between 23,214 and 64,426. As a rule of thumb, "average" mileage for any car is roughly 12,000 miles per year of age, so compare a specific listing against that benchmark. A below-average odometer commands a premium and an above-average one a discount, but a higher-mileage car with complete service records and one owner can be a better buy than a low-mileage car with gaps in its history. Consistent maintenance does more for a car's remaining lifespan than a low number on the odometer alone.
What is a good price for a 2023 Ford Explorer?
For a 2023 Ford Explorer, anything under $27,831 is a strong deal, $27,831 to $33,990 is the typical range where most cars trade, and above $33,990 is on the expensive side — those higher prices usually buy lower mileage, a certified warranty, or a premium trim. Always weigh the asking price against the car's specific mileage and condition rather than the sticker alone: a slightly higher price for a clean, one-owner, accident-free example is often money well spent. And treat a listing priced well below the range as a prompt to dig deeper — unusually cheap cars almost always have a reason, whether it's high mileage, accident history, or a branded title.
Methodology
Figures for the 2023 Ford Explorer are computed from 187 real used-car listings. Each asking price is normalized to a standard 12,000 miles per year for the car's age, adjusted by a 5% asking-to-sale estimate, and compared against the original base MSRP for that VIN's trim. Full methodology. Updated August 2026.