Used 2020 Ford Explorer for Sale nearWaterloo, ON

How much does the 2020 Ford Explorer cost?

Prices have softened 15.89% compared to this time last year, making it a favourable time to shop this model year.

There are 364 listings available, which suggests you should have a reasonable amount of inventory to compare.

Is the 2020 Ford Explorer a good car?

Yes — with a 4.7/5 user rating and an expert rating of 7.2/10, it lands as a strong choice for shoppers who want a roomy, modern SUV with a more performance-oriented edge. The standout strength is Form and function at 9/10.

Owners consistently praise the powerful feel, stylish design, spacious interior, and advanced safety features. The user feedback also points to the Explorer feeling fun to drive and well suited to family use, with modern technology adding to its appeal.

The trade-offs are clear: the interior materials feel cheap, and the model is considered poor value for money. That matters because the 2020 Explorer is aimed at buyers who want a larger SUV with a premium-leaning presence and lots of space, but its cabin quality and pricing can make it harder to justify if you are shopping strictly on value.

With 31.3% of listings marked as good or great deals, there is still some room to find a competitive example if you shop carefully.

Is the 2020 Ford Explorer reliable?

Owners rate it 4.7/5, a strong signal of long-term satisfaction. The owner summary also points to a vehicle that feels dependable in daily use, with many drivers highlighting its strong performance, spaciousness, and advanced safety features as reasons they feel confident living with it over time.

The expert drive notes reinforce that sense of durability by describing the chassis and powertrains as well sorted, with smooth, uninterrupted power and a ride that stays composed over rough pavement. That kind of behaviour usually matters to used buyers because it suggests the Explorer is built to handle regular family duty without feeling fragile.

If you are buying used, the main long-term ownership risk is that the same qualities owners like most — size, technology, and performance — can also make repairs and upkeep more expensive if the vehicle has been neglected.

What should I look for when buying a used 2020 Ford Explorer?

Key things to evaluate:

• Trim level: The cabin design is stylish and the SUV is spacious, but the interior materials are a weak point, especially in lower-spec examples where the hard plastics and low-grade trim are more noticeable. Higher trims add more polish, but you should still inspect the cabin closely for wear and finish quality.
• Powertrain: The standard 2.3-litre turbocharged inline four-cylinder makes 300 hp and 310 lb-ft, while the available twin-turbo V6 brings much stronger performance. In Canada, AWD is standard across the range, and the rear-wheel-drive-based chassis is a key part of the Explorer’s more balanced driving feel.
• Safety package: Ford Co-Pilot 360 comes standard with forward automatic emergency braking, blind-spot monitoring, rear cross-traffic alert, auto high beams, lane-keep assist, adaptive cruise control with steering assist, reverse braking, and a passenger front knee airbag. That is a strong standard list, so make sure any used example still has the full suite working properly.
• Infotainment: Standard equipment includes an 8-inch touchscreen with Sync 3, Apple CarPlay, Android Auto, a 4G Wi-Fi hotspot, factory navigation, keyless entry, remote start, 3-zone climate control, SiriusXM satellite radio, and Ford’s keyless entry keypad. Higher-spec models can add a 10-inch vertical touchscreen and a 12-inch digital instrument cluster.
• Fuel efficiency: The standard 2.3-litre engine is rated at 11.6 L/100 km in city driving, 8.7 L/100 km on the highway, and 10.3 L/100 km combined. The V6 is rated at 13.3 L/100 km city, 9.8 L/100 km highway, and 11.8 L/100 km combined.

Which 2020 Ford Explorer trim should I buy?

The 2020 Ford Explorer is offered in 4 trim levels: XLT, Limited, ST, Platinum.

Here's the short version:

• XLT: This is the trim to focus on if you want the most accessible path into the Explorer’s roomy cabin, standard AWD, and strong standard tech and safety equipment. It gives you the core Explorer experience without pushing you into the pricier performance and luxury trims.
• Limited: This trim is the better pick if you want a more upscale feel and more available equipment without going all the way to the high-output models. It suits buyers who want a more polished daily driver and are willing to pay more for it.
• ST: This is the enthusiast choice, with the strongest performance character and the sharpest driving feel. It is the right fit if you care most about acceleration, handling, and a more athletic personality.
• Platinum: This is the luxury-leaning option for shoppers who want the most premium version of the Explorer and are willing to accept the higher price that comes with it.

Ford Co-Pilot 360 is standard, and that makes even the lower trims well equipped on the safety front.

Is now a good time to buy a used 2020 Ford Explorer?

This is a moderate, selective buyer’s market, so you should have some leverage if you shop carefully.

• Deal availability: 31.3% of listings are priced as good or great deals.
• Inventory: There are 364 listings available.
• Price trend: Prices have softened 15.89% compared with last year.

If you find a listing below $26,742 CAD, that's toward the low end of the year-round range and worth acting on quickly.

What is the 2020 Ford Explorer's resale value?

The current average of $26,742 CAD sits slightly below last year's $31,793 CAD.

That price movement suggests the market has already adjusted downward, which can make the Explorer easier to buy now but also means future sellers may face a softer resale environment than they would have a year ago. If you own one, the current pricing trend implies you should expect more competition from similarly priced used SUVs when it is time to sell.

The Explorer’s strong owner satisfaction helps support demand, though, especially among shoppers who value space, style, and performance. That should help keep resale interest steady even if the broader market remains price-sensitive.

Vehicles with strong owner satisfaction ratings, like this model year's 4.7/5, tend to retain buyer demand, which supports resale value over time.

Is the 2020 Ford Explorer safe?

The 2020 Explorer earns a five-star safety rating from NHTSA and a Top Safety Pick+ rating from IIHS.

It earns an 8/10 safety score from our experts.

Ford Co-Pilot 360 comes standard with forward automatic emergency braking, blind-spot monitoring, rear cross-traffic alert, auto high beams, lane-keep assist, adaptive cruise control with steering assist, reverse braking, and a passenger front knee airbag. That is a strong standard safety package, and it gives the Explorer a solid foundation even before you move up the trim ladder.

One caveat is that reverse braking can activate falsely, so it is worth testing the system carefully during a used-car inspection.

Should I buy a 2020 Ford Explorer or consider a different year?

If you're weighing the 2020 against nearby model years, here's how to think about it:

Choose the 2020 if:

• 31.3% of listings are priced as good or great deals.
• Price trend: Prices have softened 15.89% compared with last year.
• Owners rate it 4.7/5 — a strong satisfaction signal.
• The 2020 model brings an all-new chassis, more technology, and hybrid and high-performance powertrains.

The bottom line: If you want the newer chassis, broader powertrain range, and stronger performance character, the 2020 Explorer is the better pick. If your priority is stretching your budget, a nearby year may offer a lower entry price, but the 2020’s updated hardware and strong owner satisfaction make it the more compelling choice for many shoppers.

How does the 2020 Ford Explorer compare to the 2020 Chevrolet Traverse?

Read our full side-by-side expert comparison here.

These recommendations are based on CarGurus' proprietary market data from October 27, 2026, CarGurus experts' opinions, and generative AI.