2018 Ford Explorer: True Cost of Ownership (5-Year Breakdown)
The 2018 Ford Explorer is a three-row midsize SUV built for families who need versatile space without stepping into full-size territory. With seating for up to seven, a proven 2.3L EcoBoost or 3.5L V6 engine lineup, and wide used-market availability, it appeals to suburban families and road-trip regulars alike. At roughly $24,500, it sits in a sweet spot for used SUV value — but the true cost of ownership tells a more nuanced story.
Monthly cost breakdown
The 2018 Explorer has already absorbed its steepest depreciation curve, losing roughly 50-55% of its original MSRP by now, which means the previous owner took the biggest hit. From a $24,500 purchase price, expect it to be worth approximately $13,000-$15,000 after five more years, representing a relatively moderate ongoing depreciation rate for the segment.
Pros
- Already past peak depreciation, so the $24,500 entry price represents solid value for a three-row SUV with under 60,000 miles
- Insurance costs are reasonable for the class — midsize SUVs without sports-car risk profiles keep premiums around $140-$150/month for most drivers
- Strong parts availability and widespread Ford dealer/independent shop familiarity keeps labor rates and parts costs competitive
- Fuel economy of 17-20 MPG combined is average for the segment, avoiding the penalty of older, thirstier full-size SUVs
Cons
- Known transmission and exhaust/CO issues can generate unexpected repair bills of $500-$2,000 if not caught during pre-purchase inspection
- Third-row is tight for adults, limiting real-world utility compared to competitors like the Traverse or Pilot
- Fuel costs remain a meaningful monthly burden — at 12,000 miles/year and ~19 MPG combined, you'll spend roughly $2,000/year at current gas prices
- Reliability scores from Consumer Reports and J.D. Power for this generation are below average for the segment, flagging higher-than-typical repair frequency after 80,000 miles
Common problems to watch for
- Transmission shudder or hesitation is a widely reported issue on 2018 Explorers, particularly with the 6-speed automatic — a fluid change with Mercon LV can help but some units need deeper repairs
- Police-reported cabin CO/exhaust smell entering through the HVAC system was subject to a Ford investigation and TSBs; check that any TSB fixes have been applied before buying
- Panoramic sunroof rattles and occasional seal leaks are common complaints, especially in higher-trim models like the Platinum
- Power running board motor failures are reported on equipped trims, with replacement costs ranging $400-$800
- Coolant leaks from the degas bottle or radiator hose connections have appeared on higher-mileage examples and should be inspected at purchase
The verdict
The 2018 Ford Explorer offers genuine value at $24,500 if you buy a clean example with documented service history and have a pre-purchase inspection confirm the transmission and CO/exhaust TSBs are resolved. At roughly $712/month all-in, it's not cheap to own — fuel and potential repair costs keep the ownership score moderate — but families who prioritize space and affordability over top-tier reliability will find it a workable choice. Go in eyes open, budget a $1,000-$1,500 repair reserve, and it can serve a family well for five years.
Best for: Budget-conscious families needing three-row capability and Ford dealer accessibility who are willing to do thorough pre-purchase due diligence to avoid known mechanical pitfalls.
Other model years
Frequently asked questions
Is the 2018 Ford Explorer reliable enough to buy used?
It's a mixed picture — the Explorer scores below average in reliability surveys, with transmission and exhaust intrusion issues being the most cited concerns. A clean vehicle history report combined with a professional pre-purchase inspection significantly reduces your risk.
How much does it cost to insure a 2018 Ford Explorer?
Most drivers pay $130-$165/month ($1,560-$1,980/year) for full coverage on a 2018 Explorer, depending on driving record, location, and deductible. Its midsize SUV classification keeps it cheaper to insure than sports cars or full-size trucks.
What is the fuel cost for a 2018 Ford Explorer per year?
Assuming 12,000 miles/year, the 2.3L EcoBoost (19 MPG combined) will consume roughly 630 gallons annually — at $3.20/gallon average that's about $2,000/year or $167/month in fuel costs.
What is the 2018 Ford Explorer worth in 5 years?
Starting from a $24,500 purchase today, the 2018 Explorer is likely to be worth approximately $12,500-$14,500 in 2029-2030, implying roughly $10,000-$12,000 in depreciation over the ownership period.
Does the 2018 Ford Explorer have a carbon monoxide problem?
Ford issued multiple TSBs addressing exhaust odor and potential CO intrusion into the cabin on 2016-2018 Explorers; always verify TSB repairs are completed before buying and test the HVAC system thoroughly during your test drive.
What are the typical maintenance costs for a 2018 Ford Explorer?
Routine annual maintenance — oil changes, tire rotations, filters, and scheduled inspections — runs $600-$800/year. Factor in an additional $200-$400/year buffer for the Explorer's above-average likelihood of minor unscheduled repairs.
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Estimates are AI-generated guidance based on typical costs for this year, make and model.