Used car prices are dropping slightly in Canada, but remain high

Canadians looking to buy a used vehicle may find some small price relief amid years of soaring costs, though the prices remain higher than a year ago.

New data from Canadian Black Book shows the average listing price for a used vehicle was $37,260 in the week ending Nov. 1.

That’s down slightly from about a month earlier at $37,650, and nearly a thousand dollars less than the average $38,200 in June.

The data comes as affordability and value remain priorities for many Canadians struggling with the high cost of living , rising unemployment and an uncertain economy brought on by the trade war and U.S. tariffs .

Despite more recent declines, prices are still elevated compared with a year ago, when the average listing price was $34,250 in the week ending Nov. 2, 2024.

Autotrade