Thinking about buying a 2015 Ford Explorer… good deal or not?

Hey, I’m looking at a 2015 Ford Explorer with 65,000 miles for $19,000. They want $1,500 down and payments would be $460 a month for 60 months. Does this sound like a good deal or should I pass?

How does it feel knowing this adds up to almost $30,000 for a 7-year-old SUV?

Teagan said:
How does it feel knowing this adds up to almost $30,000 for a 7-year-old SUV?

Not the original poster, but what are people supposed to do if they need an SUV and can’t afford a new one? Just not have a car? Or buy a junker that’ll cost even more in repairs later? Some actual advice would be nice instead of judgment.

This is kind of broad. Personally, based on what you’ve shared, I’d say no, it’s not worth it.

How badly do you need this Explorer? If it’s the best you’ve found and you need it now, maybe. But if you share more info—like your credit score, income, and the interest rate—you’ll probably get better advice.

@Dustin
Credit score is 645, income is $41,000 a year, and the interest rate they gave me is 16.04%. I live in San Antonio, TX, and after two months of searching, this is the best low-mileage deal I’ve seen.

@Francis
Yikes. I’d avoid this deal completely.

That’s a lot of money over five years for a car that’s already 7 years old. By the time you finish paying, it’ll be 12 years old. Just my opinion.

Zhi said:
That’s a lot of money over five years for a car that’s already 7 years old. By the time you finish paying, it’ll be 12 years old. Just my opinion.

645 credit score, $41k income, 16.04% interest rate. I’ve been looking in San Antonio, TX, and this is the best deal I’ve found for low mileage.

@Francis
The deal isn’t bad, but the interest rate is really high. Is this rate from the dealer?

Ren said:
@Francis
The deal isn’t bad, but the interest rate is really high. Is this rate from the dealer?

Yeah, it’s the dealership’s rate.

Francis said:

Ren said:
@Francis
The deal isn’t bad, but the interest rate is really high. Is this rate from the dealer?

Yeah, it’s the dealership’s rate.

Have you tried your bank?

@Ren
Yeah, my debt-to-income ratio was too high, so they turned me down.

Francis said:
@Ren
Yeah, my debt-to-income ratio was too high, so they turned me down.

If this is your only option, just keep refinancing or paying it off early to save on interest. Don’t add on extras like paint protection or tire packages—just GAP insurance and maybe a warranty if it’s a fair price.

@Ren
That’s my plan. I’ve got old student loans and credit card mistakes from college, but I was thinking of doubling up on payments. It comes with a 3-month/3,000-mile warranty, but I’d get GAP and an extended warranty.

@Francis
How much are they charging for the extras? And is this from a Ford dealer or an independent lot?

Zhi said:
That’s a lot of money over five years for a car that’s already 7 years old. By the time you finish paying, it’ll be 12 years old. Just my opinion.

Honest question: What do people who can’t afford a newer car do when the best option is a 6-7 year-old vehicle? Not everyone can just go new or lease.

That interest rate is a killer. If you can, check your credit report and fix anything holding your score down. The used car market might be softening, so waiting could help. Even with another Fed hike, improving your credit and shopping around might save you big.

@Sky
I’m paying coworkers $100 a week to carpool, and rideshare apps are draining my wallet. I also have to travel a lot for work, so the bus isn’t an option.

Francis said:
@Sky
I’m paying coworkers $100 a week to carpool, and rideshare apps are draining my wallet. I also have to travel a lot for work, so the bus isn’t an option.

I get that, but paying coworkers is still less than this car payment plus gas, insurance, and maintenance. Are you sure you need this specific SUV?

@Sky
I need space for work gear like tables and a canopy. I also travel in rural areas and need something roomy because I’m tall. Most SUVs under $20k here have higher mileage.