Used 2023 Ford Explorer for Sale nearPeterborough, ON

How much does the 2023 Ford Explorer cost?

Prices have softened 12.74% compared to this time last year, making it a favourable time to shop this model year.

There are 445 listings available, which gives you a solid amount of inventory to compare.

Is the 2023 Ford Explorer a good car?

Yes — 4.8/5 is a strong user rating for the 2023 Ford Explorer, and it fits well if you want a midsize SUV that feels more engaging than the typical family hauler. Its rear-wheel-drive-based platform gives it better handling than earlier Explorers without giving up smoothness or refinement, and it still offers seating for up to seven. With 35.5% of listings marked as good or great deals, you have a decent chance of finding a competitive offer.

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 more polished driving character than earlier versions, and it brings useful everyday equipment such as Apple CarPlay, Android Auto, at least four USB ports, and Ford Co-Pilot360 driver-assistance features. Higher trims can add more convenience and comfort, but the most advanced driver-assistance features still require stepping up to pricier versions. For used buyers, that means long-term ownership risk is more about trim choice and feature content than the core package itself.

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

This is a moderate, selective buyer’s market, so you can shop carefully and still find worthwhile options.

• Deal availability: 35.5% of listings are priced as good or great deals.
• Inventory: There are 445 listings available.
• Price trend: Prices have softened 12.74% compared with last year.

If you find a listing below $38,152 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 $38,152 CAD sits slightly below last year's $43,721 CAD.

That softer pricing can help you buy more confidently now, but it also means future sellers may need to be realistic if the market stays competitive. The Explorer’s broad appeal, seating for up to seven, and engaging road manners should help support demand. A well-equipped example with the right trim and condition should still be easier to move than a less desirable configuration.

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:

• 35.5% of listings are priced as good or great deals.
• Price trend: Prices have softened 12.74% compared with last year.
• Owners rate it 4.8/5 — a strong satisfaction signal.

Consider the 2022 if:

• At $34,780 CAD, the 2022 costs less than the current year's $38,152 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 mix of pricing, inventory, and owner satisfaction. If your priority is saving money upfront, the 2022 is the better value-focused path, especially if you find one in good condition with the features you want.

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 4, 2026, CarGurus experts' opinions, and generative AI.