Used 2023 Ford Explorer for Sale nearNewmarket, ON

How much does the 2023 Ford Explorer cost?

Prices have softened 14.05% compared to this time last year, making it a favourable time to shop this model year.

There are 452 listings available, which suggests you 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 points to strong owner satisfaction. It stands out as a midsize SUV that feels more polished and premium than earlier Explorers, while its rear-wheel-drive bias gives it better handling without giving up smoothness or refinement. That makes it a strong fit if you want a three-row family SUV that is also more engaging to drive than many rivals. With 28.5% of listings marked as good or great deals, you still have 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 broad range of powertrains, strong equipment list, and practical three-row packaging. It also benefits from a more modern rear-drive platform and a well-rounded mix of comfort and capability. For used buyers, the main long-term ownership risk is that higher trims and option packages can raise repair and replacement costs if you want more of the premium features.

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

This looks like a moderate, selective buyer’s market, so you can afford to compare listings carefully before committing.

• Deal availability: 28.5% of listings are priced as good or great deals.
• Inventory: There are 452 listings available.
• Price trend: Prices have softened 14.05% compared with last year.

If you find a listing below $38,570 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 $38,570 CAD sits slightly below last year's $44,873 CAD.

That price movement suggests the market has already adjusted downward, which can make the Explorer easier to buy now but may limit near-term upside for a future seller. If you purchase at the right price, you reduce the risk of being caught in further depreciation. The model’s broad appeal and family-friendly packaging should still help it remain relevant with used shoppers.

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:

• 28.5% of listings are priced as good or great deals.
• Price trend: Prices have softened 14.05% compared with last year.
• Owners rate it 4.75/5 — a strong satisfaction signal.

Consider the 2022 if:

• At $35,756 CAD, the 2022 costs less than the current year's $38,570 CAD average.
• It offers a broad trim range and a spacious, practical interior.

The bottom line: Choose the 2023 if you want the stronger current-market value story and are comfortable shopping within a moderate inventory pool. If your priority is saving money upfront, the 2022 is the better path, especially if you want a lower entry price and can live with the older model year.

These recommendations are based on CarGurus' proprietary market data from October 13, 2026, CarGurus experts' opinions, and generative AI.