Used 2023 Ford Explorer for Sale nearMarkham, ON

How much does the 2023 Ford Explorer cost?

Prices have softened 13.65% compared to this time last year, making it a favourable time to shop this model year.

There are 465 listings available, which suggests you should have a reasonable amount of inventory to compare.

Is the 2023 Ford Explorer a good car?

Yes — the 2023 Ford Explorer earns a 4.75/5 user rating, which supports its appeal as a midsize SUV with strong road manners and a practical three-row layout. It stands out for its rear-wheel drive–biased platform, engaging driving character, and broad usefulness for families who want seating for up to seven passengers. The available powertrains and everyday equipment make it a versatile choice if you want capability without giving up refinement. There are 31.4% of listings priced as good or great deals, which gives you some room to shop selectively.

Is the 2023 Ford Explorer reliable?

Owners rate it 4.75/5, a strong signal of long-term satisfaction.

The 2023 Explorer’s appeal comes from its balanced mix of comfort, performance, practicality, and family-friendly packaging. Ford also positions it as a refined, well-equipped SUV with useful features even on lower trims, which can help reduce day-to-day frustration. For used buyers, the main long-term ownership risk is choosing a trim or option package that leaves you wanting more equipment than you expected.

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 patiently and still find worthwhile options.

• Deal availability: 31.4% of listings are priced as good or great deals.
• Inventory: There are 465 listings available.
• Price trend: Prices have softened 13.65% compared with last year.

If you find a listing below $39,093 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 $39,097 CAD sits slightly below last year's $45,279 CAD.

That price movement suggests the market has already adjusted downward, which can make the Explorer more attractive to buyers now but less favourable for sellers trying to maximise return. If you plan to sell later, the current softness means your resale outcome will depend heavily on condition, mileage, and trim desirability. Vehicles with strong owner satisfaction ratings, like this model year's 4.75/5, 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:

• 31.4% of listings are priced as good or great deals.
• Price trend: Prices have softened 13.65% compared with last year.
• Owners rate it 4.75/5 — a strong satisfaction signal.

Consider the 2022 if:

• At $35,657 CAD, the 2022 costs less than the current year's $39,097 CAD average.
• It offers a broad, family-focused package with strong versatility.

The bottom line: Choose the 2023 if you want the stronger current-market value story and are shopping for a well-rated, well-equipped three-row SUV. If your priority is spending less up front, the 2022 is the better secondary path because it delivers similar core usefulness at a lower asking price.

These recommendations are based on CarGurus' proprietary market data from September 29, 2026, CarGurus experts' opinions, and generative AI.