Jason Gillett/YouTube The super-luxury Lincoln Navigator has served as the Blue Oval's substantial piece of real estate since it first appeared in 1997. Four more generations of the large luxury SUV have been introduced in the ensuing years, with the fifth-generation model arriving back in 2024. However, today, a shiny new Navigator starts at an eye-wateringly expensive $92,745. So used models might be a more attractive proposition if you prefer to buy a car that has already passed through the steepest part of the depreciation curve. In that case, you'll find that the long-wheelbase 2021 Lincoln Navigator L, which is nearly 12 inches longer than the standard-length Navigator, offers great savings over the equivalent new model. The luxury SUV initially started at $83,870. Now, about half a decade later, Kelley Blue Book lists its fair purchase price at $33,100 representing a drop of around 61% in five years. In other words, if you were to buy a used 2021 Lincoln Navigator L in 2026, you could save nearly $51,000 over the equivalent brand-new model. 2021 Lincoln Navigator L depreciation vs standard-length Lincoln Navigator Kevauto/Wikimedia Commons Based on their relative KBB fair purchase prices, the extended-wheelbase Navigator L currently has a slightly higher depreciation rate than the regular-sized Navigator. The latter has lost about 58% of its original starting MSRP of $80,670, leaving owners recovering around $34,100 in half a decade. That gap holds even when you look at the higher-end Reserve trims of both Navigator models. The 2021 Navigator Reserve, which cost $86,460 when new, now averages $38,900, putting its depreciation at about 55%. Meanwhile, the Navigator L Reserve's value has declined by 58%, given the latter's launch price of $86,460 and current fair market value of $38,000. The 2021 Navigator L Black Label, for its own part, has the worst depreciation among the entire Navigator lineup, falling in value by almost 62% in five years. It began at $103,150 but now averages $39,700, according to KBB data. This results in an even wider gap; the regular-length Navigator Black Label had a starting MSRP of $99,950 only dropped in value by about 57% during the same period, leaving owners with $42,500. Because of these gaps in value, you can expect a 2021 Navigator to be more expensive than its Navigator L equivalent today. But that doesn't mean there's no appeal in getting the smaller model. After all, the Navigator's shorter length makes it easier to park and easier to thread along streets, which increases its value over the L model for city driving. How much does a 2021 Lincoln Navigator L really cost? Jason Gillett/YouTube Like any used car, the amount you'll spend on a Lincoln Navigator L depends on age, mileage, and a host of other factors such as condition, service history, accident history, number of owners, and optional extras. At the time of writing this article, a used 2021 Lincoln Navigator L starts from around $29,000 and tops out near the $60,000 mark, with high-mileage examples typically coming at a lower purchase price. This shouldn't be any great surprise, considering buyers usually prefer something less worn-down. On CarGurus, for instance, the cheapest 2021 Navigator L — a 138,593-mile Reserve L trim — is listed for a tad under $30,000. At the other end of the scale, the highest priced 2021 Lincoln Navigator L is another Reserve L with just about 33,000 miles on the clock, listed for almost $55,000. Over on Edmunds, you can find another 2021 Navigator L with over 133,000 miles on the odometer and a listing price of $25,999. Meanwhile, a Black Label L trim with just under 32,000 miles has an asking price of $57,998 on Edmunds, making it the highest-priced 2021 Navigator L on the site.