Wait! There's already a discount!?
The all-new 2020 Ford Explorer has only recently arrived in dealerships despite some reported quality control issue delays and recalls the automaker is racing to fix. Unlike its immediate predecessor, this new Explorer returns to its SUV roots with standard rear-wheel-drive instead of a front-wheel-drive base setup. With power, performance and looks on its side, the sixth-generation Explorer is expected to be a smash hit, but Ford still wants sales to begin with a strong start.
CarsDirect has discovered there's already a sales incentive for the new SUV, but it may not be worth getting excited about. For starters, it only applies to the three most-expensive trims, Limited, Platinum, and ST. But get this: the incentive only amounts to a $1,000 discount. Given that the Explorer Limited starts off at $48,130, the Platinum at $58,250, and the ST at $54,740, a measly $1,000 price cut makes very little difference.
Fortunately, all Explorer trims, including the base XLT, have special financing rates at the moment beginning at 0.9 percent APR for 36 months. Those who want to spread out those payments even further can get financing for 48, 60, and 72 months at 1.9 percent, 2.9 percent, and 4.9 percent APR, respectively. The aforementioned top three Explorer trims are also eligible for a $500 bonus.
Prefer to lease instead of buying? Hold your horses because the current rates are not that great either. A 2020 Explorer XLT can be leased for $392 a month for 36 months with $4,179 due at signing. That's a combined cost of over $500 a month. In summary, if you want to buy a higher trim level 2020 Explorer, then it may be worth heading over to a Ford dealership.
But if you're interested in the Explorer XLT, it'll probably be best to hold off for now. Ford dealerships, because of those build quality issues, may have a limited stock of Explorers right now so it makes little sense to offer competitive discounts since demand far outweighs supply. Nevertheless, Ford will certainly get those issues sorted soon and dealership stocks will gradually increase.
The new Explorer is only beginning its production life so there'll be plenty of savings opportunities to come.