Used 2023 Ford Explorer for Sale nearLondon, ON

How much does the 2023 Ford Explorer cost?

Prices have softened 12.71% compared to this time last year, making it a favourable time to shop this model year.

There are 438 listings available, which suggests you have a solid amount of inventory to compare.

Is the 2023 Ford Explorer a good car?

Yes — the 4.8/5 user rating points to strong owner satisfaction. The 2023 Explorer stands out for its rear-wheel-drive-based platform and more polished driving character, giving it better handling than earlier Explorers without giving up smoothness or refinement. It also suits you well if you want a midsize SUV that feels more engaging than the typical family hauler, while still offering seating for up to seven and useful everyday equipment. With 35.8% of listings marked as good or great deals, there is still meaningful market opportunity if you shop carefully.

Is the 2023 Ford Explorer reliable?

Owners rate it 4.8/5, a strong signal of long-term satisfaction.

The 2023 Explorer benefits from a mature platform and a well-developed feature set, but higher trims and option packages are still where you’ll find some of the more advanced equipment. For used buyers, that means long-term ownership risk is more about choosing the right trim and condition than worrying about the basic package itself.

Is now a good time to buy a used 2023 Ford Explorer?

This looks like a moderate, selective buyer’s market, so you can shop with some leverage if you know what you want.

• Deal availability: 35.8% of listings are priced as good or great deals.
• Inventory: There are 438 listings available.
• Price trend: Prices have softened 12.71% compared with last year.

If you find a listing below $37,906 CAD, that's toward the low end of the year-round range and worth acting on quickly.

What is the 2023 Ford Explorer's resale value?

The current average of $37,906 CAD sits slightly below last year's $43,425 CAD.

That price movement suggests the market has already adjusted downward, which can help you buy at a more favourable point. For a future seller, it also means resale value will depend heavily on condition, mileage, and trim choice, since the model is no longer riding a rising price trend. If you maintain it well and buy smartly, you can still protect value better than a shopper who pays near the top of the range.

Vehicles with strong owner satisfaction ratings, like this model year's 4.8/5, tend to retain buyer demand, which supports resale value over time.

Should I buy a 2023 Ford Explorer or consider a different year?

If you're weighing the 2023 against nearby model years, here's how to think about it:

Choose the 2023 if:

• 35.8% of listings are priced as good or great deals.
• Price trend: Prices have softened 12.71% compared with last year.
• Owners rate it 4.8/5 — a strong satisfaction signal.

Consider the 2022 if:

• At $34,583 CAD, the 2022 costs less than the current year's $37,906 CAD average.
• It offers broad versatility with a family-friendly, well-rounded package.

The bottom line:
Choose the 2023 if you want the stronger current-market balance of price, satisfaction, and inventory. If your priority is spending less upfront, the 2022 is the better value-focused alternative, especially if you find one in good condition with the right equipment.

How does the 2023 Ford Explorer compare to the 2023 Chevrolet Traverse?

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

These recommendations are based on CarGurus' proprietary market data from November 10, 2026, CarGurus experts' opinions, and generative AI.