The 2018-2023 Used Ford Explorer: A truly great family choice... if you finance it properly
I’ll be honest: the Ford Explorer is one of the used 7-passenger SUVs I finance most often for families in Quebec. It’s not because it’s perfect. It’s because it checks a lot of concrete boxes for my clients: space, reassuring handling in winter, great cargo volume, and resale value that holds up better than many other large SUVs.
At Prêt Auto Québec, we see all kinds of files. Parents from Laval who need to replace a tired Dodge Journey. A self-employed worker from Trois-Rivières who finally wants a vehicle capable of towing a small trailer. A blended family in Quebec City with three kids, two car seats, and a schedule that makes no sense. In these realities, the 2018-2023 used Ford Explorer often comes up on the table.
And I understand why.
What I really like about the 2018-2023 Explorer
Between 2018 and 2019, we are still on the previous generation, which is boxier and feels more like a “truck.” From 2020 onward, Ford modernized the model: updated platform, more refined handling, better-thought-out interior, and more current tech. If you’re asking for my straight opinion? For daily family use in Quebec, the leap between 2019 and 2020 is significant.
2018-2019: Often the best value for money/space
In the Quebec market in 2026, I still regularly see 2018 Explorers listed between $21,000 and $28,000, depending on mileage, the XLT/Limited/Sport version, and condition. The 2019s often hover between $24,000 and $31,000.
For a family that wants 7 seats without getting into heavy monthly payments, these years often make a lot of sense. Yes, the interface is more dated. Yes, fuel consumption might be a bit higher depending on the engine. But for the price, the space is excellent.
2020-2023: More modern, more enjoyable, but more expensive
2020 to 2023 Explorers fall more often into these price ranges:
- 2020: approximately $29,000 to $38,000
- 2021: approximately $32,000 to $42,000
- 2022: approximately $36,000 to $46,000
- 2023: often $40,000 to $52,000
Obviously, if we are talking about a well-equipped ST, Timberline, or Platinum version, the price can go higher.
My opinion? For most of my clients, the “sweet spot” is often between 2020 and 2021, XLT or Limited trim, with a clean history, documented maintenance, and reasonable mileage. You get the modern feel without paying the near-new price.
7 seats, yes... but let’s talk about real life
I often tell my clients: “7 seats” does not mean “7 adults comfortable all the way to the Saguenay.”
The first two rows are generally very good. The third row, however, is fine for kids, teenagers, or in a pinch. For a family with young children, it’s perfect. For adults on long distances, it’s less ideal.
Last year, I helped a couple from Saint-Jérôme—let's call them Karine and Marc—with four children. They were hesitating between a minivan and an SUV. After comparing, they chose a 2021 Explorer XLT. Why? He insisted on all-wheel drive for winter, and she wanted something less cumbersome than a minivan in the city. Their comment after a few weeks made me smile: “The kids love the third row... until we have to drive for more than two hours.” That’s exactly it.
If you do a lot of long road trips with 6 or 7 people, I would tell you to also look at a Pilot, a Telluride, or even a minivan. But if you are 4 to 5 people most of the time and the 7-seat configuration is used as a backup, the Explorer is very well positioned.
Engines, consumption, and trims: where I would tell you to put your money
For these years, you mostly find 4-cylinder turbo engines and V6s depending on the trim. For many families, the EcoBoost 4-cylinder is sufficient. If you tow, or if you like a punchier response, some V6s or more powerful versions make sense.
But here is my direct advice: don't buy too much engine if your budget is already tight.
In Quebec, between insurance, gas, mandatory winter tires from December 1st to March 15th, SAAQ registration, maintenance, and the cost of living that isn't going down, this is not the time to tie yourself down with an extra $150 or $200 a month for an ST version “because it looks cool.”
Regarding fuel consumption, what to expect?
In real-world usage, I often see my clients averaging:
- 10 to 12 L/100 km on the highway for the more efficient versions
- 12 to 14 L/100 km in mixed usage
- More in heavy city traffic, winter, prolonged idling, or higher-performance versions
In Montreal or Quebec City, with traffic, snow clearing, winter tires, and remote starters running on January mornings, the reality is never what the brochure says.
What I check before recommending a used Explorer
I’ll be clear: a nice payment never compensates for a bad vehicle.
When my team at Prêt Auto Québec works on a file for a used Explorer, I insist that we look at a minimum of:
History and maintenance
I want to see consistent maintenance. Regular oil changes, brakes, suspension, recalls performed, and verifiable accident history. A clean report is reassuring, but it isn't everything. A vehicle might have no declared accidents but have been mechanically neglected.
Typical wear on a family SUV
An Explorer carries people, hockey bags, strollers, Costco hauls, and sometimes a wet dog in the spring. So I pay attention to:
- The condition of the brakes and tires
- Signs of excessive interior wear
- The suspension
- Alignment
- Road noise
- The condition of the rear climate control
- The functionality of the 3rd-row seats and electronics
Mileage: important, but not the only factor
I often prefer a well-maintained 2020 with 115,000 km over a questionable 2019 with 78,000 km. Mileage alone only tells part of the story.
Let’s talk money: what does a used Explorer cost per month?
This is often where it all happens. People look at the sticker price first. I look at the total cost, the rate, the down payment, the taxes, and the loan term.
In Quebec, we have to add applicable taxes to the vehicle price. If you buy from a dealer, the financing usually includes the taxed cost, plus sometimes certain protections or fees if you accept them.
Concrete examples of monthly payments
Let’s take a 2021 Explorer listed at $36,995.
With taxes, we quickly get to around $42,500 financed, depending on applicable fees. If you put $2,500 down, there is about $40,000 left to finance.
Example 1: Good credit
- Amount financed: $40,000
- Rate: 7.49%
- Term: 72 months
Approximate payment: $685 to $695 per month
Example 2: Average credit
- Amount financed: $40,000
- Rate: 10.99%
- Term: 72 months
Approximate payment: $755 to $765 per month
Example 3: More difficult file / 2nd chance credit
- Amount financed: $40,000
- Rate: 14.99%
- Term: 72 months
Approximate payment: $835 to $845 per month
You quickly see the difference. That is why I spend time explaining to my clients how a point or two of interest, or $2,000 in down payment, really changes the picture.
If you want to get an idea before speaking to an advisor, our payment calculator is useful. I often recommend it specifically to avoid bad surprises.
How I quickly calculate if the payment makes sense
Without pulling out a full Excel sheet, I look at three things:
- The total price with taxes
- The cost of borrowing based on the rate
- The realistic duration of ownership
My professional opinion: I don't really like financing a used Explorer over 84 months, especially if the vehicle already has high mileage. Yes, it lowers the monthly payment. But you risk remaining “tight” for too long with a vehicle that is aging. Often, 60 to 72 months is healthier.
Auto interest rates in Quebec right now
The market moves, but to give you realistic benchmarks that I see in recent files:
- Excellent credit: often around 6.49% to 8.49%
- Good credit / fair credit: around 8.99% to 11.99%
- 2nd chance credit: often 12.99% to 19.99%, depending on the file, job stability, down payment, and vehicle
I always prefer to be honest with people. If your credit has suffered after a separation, late payments, a consumer proposal, or a past bankruptcy, you can still obtain Ford financing or an adapted auto loan. But you have to choose the right vehicle and the right amount.
At our company, we regularly assist clients with 2nd chance credit. And honestly, an Explorer can work... but not in every case. If the budget is stretched too thin, I will tell you.
Approval times: what people want to know right away
The question comes up every day: “How long until I can be approved?”
If the file is simple, with stable income and documents ready, a pre-approval can often be done the same day, sometimes in less than 2 hours. For a more complex file, count on 24 to 48 hours. Afterward, the vehicle, the lender's conditions, and the documents must be confirmed.
Another client, Sébastien, from Lévis, had just changed jobs. Good income, but a damaged credit history after a difficult period. He thought it would be impossible for a 7-passenger SUV. We put his file together properly, chose a 2020 Explorer at the right price instead of a version that was too expensive, and he was approved in just under 24 hours. Not with the dream rate, no. But with a manageable payment and a clear plan to refinance later if his file continues to recover.
That is the real job of an advisor. Not just saying yes or no.
Explorer or used F-150 in Quebec? The question comes up more often than you think
Even when someone is shopping for a family SUV, they sometimes talk to me about a used Ford F-150 in Quebec. Especially clients from regional areas, or those who need traction, towing, or a versatile vehicle for work.
I always ask them the same question: do you transport children... or equipment more often?
If your priority is family, car seats, road trips, hockey, groceries, and a little bit of towing, the Explorer often wins. If you need a bed, real load capacity, and more utility-focused usage, then we are talking more about a Ford truck auto loan or Ford financing for an F-150.
But for the majority of urban or semi-urban families that I advise, the Explorer is more logical than a pickup truck. Easier to live with. More consistent.
By the way, if you want to see options based on your budget, take a look at our inventory. It helps to compare what actually exists on the market, not just the “dream” prices we sometimes see online.
A word from our expert
Buy your winter tires before October if you are targeting an Explorer.
I know, it sounds trivial. But on an SUV like this, a good set of winter tires can easily cost $1,200 to $1,800 depending on the size and quality. If you wait until November, availability drops, prices rise, and you end up financing a vehicle without having planned for this expense.
I often recommend that my clients negotiate the inclusion of a good winter set in the transaction, or to keep a portion of their down payment for this. In Quebec, with the law running from December 1st to March 15th, this is not a detail. It is a mandatory expense and, above all, a real safety factor.
My verdict, no sugar-coating
The 2018-2023 used Ford Explorer is, in my opinion, a very good 7-passenger family SUV for Quebec, provided you buy it at the right price and finance it intelligently.
If your budget is tighter, I would seriously look at a well-maintained 2018 or 2019. If you can stretch a little without getting into trouble, a 2020 or 2021 XLT/Limited often represents the best balance between modernity, space, and value.
However, I will tell you frankly: do not choose this vehicle just because it is beautiful or because it looks “high-end.” Choose it if your real life needs it. And above all, make sure the payment remains breathable after gas, insurance, SAAQ, maintenance, and everything else.
If you want us to look together at whether an Explorer really fits your budget — or if another Ford would suit you better — submit a financing request. My team at Prêt Auto Québec and I will talk to you frankly, without pressure, with clear numbers. That is pretty much how I have been working for over 12 years, and I still think it is the best way to help people.