Used 2023 Ford Explorer for Sale nearToronto, 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 444 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 buyers who 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. The wide spread of powertrains and trims also helps you tailor it to your needs, from everyday commuting to stronger performance.

With 36.0% of listings marked as good or great deals, you have a decent chance of finding a competitively priced example.

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 and a platform that improved handling and refinement over earlier versions. It also brings useful everyday equipment such as Apple CarPlay, Android Auto, at least four USB ports, and Ford Co-Pilot360 driver-assistance features, which supports day-to-day usability.

For used buyers, the main long-term ownership risk is that some advanced features are reserved for higher trims and option packages, so you should verify equipment carefully before you buy.

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 but should move quickly on strong listings.

• Deal availability: 36.0% of listings are priced as good or great deals.
• Inventory: There are 444 listings available.
• Price trend: Prices have softened 12.74% compared with last year.

If you find a listing below $38,179 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 $38,179 CAD sits slightly below last year's $43,754 CAD.

That softer pricing suggests the market has become more favourable for buyers, but it can also mean future sellers may need to price competitively to stand out. If you buy now, you may be entering at a more realistic market level than buyers did a year ago. That can help if you plan to keep the vehicle for several years before reselling.

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:

• 36.0% 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 $34,809 CAD, the 2022 costs less than the current year's $38,179 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 value story and a more engaging driving character. If your priority is saving money upfront, the 2022 is the better budget-conscious alternative, especially if you find one with the equipment 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 3, 2026, CarGurus experts' opinions, and generative AI.