Used 2023 Volvo XC60 for Sale nearWaterloo, ON

How much does the 2023 Volvo XC60 cost?

Prices have softened 17.91% compared to this time last year, making it a favourable time to shop this model year.

There are 254 listings available, which suggests you have a reasonable amount of inventory to compare.

Is the 2023 Volvo XC60 a good car?

The 2023 Volvo XC60 is a compelling choice if you want a premium compact SUV with plug-in hybrid flexibility, strong safety credentials, and a polished design, though its value equation depends on how much you use the electrified side of the drivetrain. It earns 3/5 from users and 8.00/10 from our experts.

The model scores 10/10 across Look and feel and Safety.

Its appeal is strongest if you want electric-only driving for shorter trips without giving up gasoline backup for longer journeys. The trade-offs are that acceleration and braking can feel abrupt, and rear-seat legroom is tight.

With 31.1% of listings marked as good or great deals, there is some room to shop selectively.

Is the 2023 Volvo XC60 reliable?

The 2023 Volvo XC60 benefits from a long-running update cycle and a powertrain that blends electric driving with gasoline backup, which can make day-to-day use feel flexible and familiar. The expert evaluation also points to a well-developed PHEV system that can deliver strong efficiency when you plug in regularly and use Pure mode for commuting.

Volvo’s plug-in hybrid setup is described as a practical way to ease into EV ownership without range anxiety, and the drivetrain update improved the electric motor’s output. If you keep up with charging and routine maintenance, long-term ownership risk should be manageable, but the complexity of a PHEV means neglected upkeep could become costly.

What should I look for when buying a used 2023 Volvo XC60?

Key things to evaluate:

• Trim level: The Ultimate trim brings the most complete equipment set, including the features that make the cabin feel especially upscale, while the base setup leaves you with fewer luxury touches.
• Powertrain: The Recharge PHEV uses a turbocharged 2.0-litre gas engine, an electric motor, and an 18.8-kWh battery pack, with an estimated 58 km of electric driving range.
• Safety package: Pilot Assist is the key driver-assistance suite, combining adaptive cruise control, blind spot monitoring, lane keeping assist, and lane-centring capability; it requires your hands on the steering wheel.
• Infotainment: You get a 9-inch portrait-style touchscreen, a 12-inch digital instrument panel, wireless-style Google Built-in functionality, Apple CarPlay, Bluetooth, SiriusXM satellite radio, and Wi-Fi access.
• Fuel efficiency: In testing, the XC60 Recharge averaged 4.3 L/100 km, and a highway-heavy Charge-mode run returned 11.9 L/100 km.

Which 2023 Volvo XC60 trim should I buy?

The 2023 Volvo XC60 is offered in 4 trim levels: Core trim, Plus trim, Ultimate trim, and Polestar Engineered trim.

Here's the short version:

• Core: This is the entry point if you want the XC60’s core luxury, safety, and plug-in hybrid appeal without stretching for extras.
• Plus: This is the trim to target if you want a better balance of equipment and value, since it adds more comfort and convenience without jumping all the way to the top.
• Ultimate: This is the best-value choice if you want the most complete version of the XC60, including the richest cabin presentation and the fullest safety and tech content.
• Polestar Engineered: Choose this only if you want the most performance-focused version of the XC60 lineup.

The Ultimate trim is the one that comes with the full safety feature set, including Pilot Assist and Oncoming Lane Mitigation.

Is now a good time to buy a used 2023 Volvo XC60?

This looks like a moderate, selective buyer’s market, so you can afford to compare listings carefully and wait for the right example.

• Deal availability: 31.1% of listings are priced as good or great deals.
• Inventory: There are 254 listings available.
• Price trend: Prices have softened 17.91% compared with last year.

If you find a listing below $39,949 CAD, that's toward the low end of the year-round range and worth acting on quickly.

What is the 2023 Volvo XC60's resale value?

The current average of $39,956 CAD sits slightly below last year's $48,671 CAD.

That drop suggests the market has moved in buyers’ favour, which can make the XC60 easier to shop now than it was a year ago. For a future seller, that also means you should expect more price sensitivity from shoppers unless your vehicle is exceptionally well equipped or lightly used. If you buy at the current average or below, you may have a better chance of limiting depreciation pressure later.

Is the 2023 Volvo XC60 safe?

The 2023 Volvo XC60 B5 and B6 earns a Top Safety Pick+ rating from IIHS, and the XC60 B5 and B6 mild-hybrids earn top marks across the board from NHTSA.

It earns a 10/10 safety score from our experts.

Pilot Assist is Volvo’s main driver-assistance suite, and it combines adaptive cruise control, blind spot monitoring, lane keeping assist, and lane-centring capability on the highway. Oncoming Lane Mitigation is also included, helping reduce the risk of collisions with oncoming traffic or unsafe left turns.

Because the Recharge PHEV was not assessed by NHTSA, you should pay close attention to the exact trim and powertrain you’re considering, especially if safety ratings are a top priority.

Should I buy a 2023 Volvo XC60 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:

• 31.1% of listings are priced as good or great deals.
• Price trend: Prices have softened 17.91% compared with last year.
• It offers a compelling plug-in hybrid blend of electric-only commuting and gasoline backup.

Consider the 2022 if:

• At $34,479 CAD, the 2022 costs less than the current year's $39,956 CAD average.
• The 2022 XC60 adds updated powertrains, refreshed styling, and an Android-based infotainment system.

The bottom line: Choose the 2023 if you want the stronger current-market value signal and the plug-in hybrid flexibility that makes the XC60 Recharge appealing. If your priority is spending less up front, the 2022 is the better budget-conscious path and still brings many of the XC60’s key strengths.

How does the 2023 Volvo XC60 compare to the 2023 BMW X3?

Read our full side-by-side expert comparison here.

These recommendations are based on CarGurus' proprietary market data from October 27, 2026, CarGurus experts' opinions, and generative AI.