It folds down but it sticks up about an inch and is hard plastic. So you end up with about 70% mat and 30% raised area of hard plastic. The large flat area with the large rubber mat I had in my Gen 2 was better/easier for my dogs to ride on.So it's not like in the Super Duty where the underseat storage lays flat? I've ordered a '24 base Raptor. If the under seat storage doesn't fold flat that may be a deal breaker for me.