Used vehicle prices have declined overall, but some Ford trucks and SUVs have bucked that trend.
Wild Market Ride
Used vehicle prices have been the talk of the automotive world for years now after soaring to new record heights following the pandemic. This was caused by production issues, record low new vehicle inventory, and various supply chain shortages, coupled with high demand, but now - finally - the tide is beginning to turn somewhat. As a result, many used vehicles have gotten cheaper over the past year, according to new data from iSeeCars, but some have also gotten more expensive.
Photos: Ford
Methodology
To come up with this list, iSeeCars analyzed interest rate and household income data from October 2022 and September 2023, then used it to determine which three-year-old used vehicles meet its Affordability Index of 100. An index value of 100 means that household income is equal to the idealized income for a car purchase, while a higher value means a vehicle is more affordable and a lower value means that it's unaffordable. iSeeCars then ranks used vehicles by the percentage a vehicle is below this threshold to determine which are the most affordable.
Photos: Ford
Affordable: Ford Ranger
In that sense, the three-year-old Ford Ranger made the cut as one of the most affordable used vehicles on the market over the past year, ranking 21st on this particular list thanks to the fact that it's 0.9 percent below iSeeCars' affordability index threshold. Three-year-old Ranger prices have also declined by four percent over the past year, bringing its average to $33,080.
Photos: Ford
Not Affordable: Ford Bronco
The same cannot be said of the ever-popular Ford Bronco, however, which shares a platform with the Ranger. After landing on iSeeCars' list of affordable vehicles back in October 2022, it fell completely off that list this time around, even if it isn't expensive enough to land on the corresponding list of the most unaffordable vehicles, which is somewhat good news, at least.
Photos: Ford
Not Affordable: Ford Bronco Sport
The same goes for the Bronco's smaller crossover counterpart, the Bronco Sport. This particular model landed on the list of the most unaffordable used three-year-old vehicles after finishing 2.3 percent above the affordability index. Used Bronco Sport prices have risen by 2.3 percent over the past year or so, bringing its average up to $37,041.
Photos: Ford
Not Affordable: Ford Explorer
Then we have the Ford Explorer, which became unaffordable over the past year, but not to the point where it landed on that particular "naughty" list. The only reason it missed the cut in that regard, as iSeeCars notes, is that it was simply beaten out by 23 other models that had far worse variances between pricing and household income.
Photos: Ford
