Used 2023 Ford Explorer for SaleNationwide

How much does the 2023 Ford Explorer cost?

Prices have softened 13.56% compared to this time last year, making it a favourable time to shop this model year.

There are 481 listings available, which suggests you should have a reasonable amount of inventory to compare.

Is the 2023 Ford Explorer a good car?

Yes — the 4.75/5 user rating points to strong owner satisfaction for this model year. The 2023 Explorer stands out for its rear-wheel drive–biased platform, strong road manners, and practical three-row layout, so it suits you well if you want a family SUV that is more engaging to drive than its older reputation suggests. It also offers useful everyday equipment, including Apple CarPlay, Android Auto, and seating for up to seven passengers. With 30.6% 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 4.75/5, a strong signal of long-term satisfaction.

The 2023 Explorer’s appeal comes from its balanced chassis, broad powertrain range, and practical packaging, all of which support confidence in day-to-day use. For used buyers, the main long-term ownership risk is choosing a poorly maintained example with expensive options or higher-trim complexity.

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 carefully and still find worthwhile listings.

• Deal availability: 30.6% of listings are priced as good or great deals.
• Inventory: There are 481 listings available.
• Price trend: Prices have softened 13.56% compared with last year.

If you find a listing below $39,397 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 $39,397 CAD sits slightly below last year's $45,578 CAD.

That price movement suggests the market has already adjusted downward, which can make the Explorer easier to buy now but may also limit near-term upside for a future seller. If you plan to resell later, the current softer pricing means your starting point is lower than it was a year ago. Even so, a well-kept example should still appeal to shoppers who want a practical three-row SUV with strong road manners.

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:

• 30.6% of listings are priced as good or great deals.
• Price trend: Prices have softened 13.56% compared with last year.
• Owners rate it 4.75/5 — a strong satisfaction signal.

Consider the 2022 if:

• At $35,902 CAD, the 2022 costs less than the current year's $39,397 CAD average.
• It offers broad appeal with a modern rear-drive platform and flexible trim range.

The bottom line: Choose the 2023 if you want the stronger current-market balance of pricing, inventory, and owner satisfaction. If your priority is saving money upfront, the 2022 is the better value path and still delivers the Explorer’s core strengths.

These recommendations are based on CarGurus' proprietary market data from September 15, 2026, CarGurus experts' opinions, and generative AI.