The average used car price in Canada reached $33,197 in March, marking a 0.61% increase month-over-month but still sitting 2.65% lower than the same time last year. While prices cooled steadily throughout 2024, we’re now seeing the early signs of a rebound as the market adjusts to ongoing supply constraints and economic uncertainty.

From shifting consumer preferences to the rising cost of new vehicles, this report explores what’s driving used car prices across Canada — and what buyers and sellers can expect heading into spring.

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Used car prices continue to vary widely across the country — and the farther east you go, the more affordable things get. In British Columbia, where the climate is milder and vehicles tend to experience less wear over time, the average used car price sits at $37,865. In contrast, Nova Scotia has the lowest provincial average at $27,563.

This eastward pricing decline isn’t just about supply and demand — it’s about conditions. Harsher winters, heavy use of road salt, and a damp Atlantic climate all contribute to greater vehicle wear in eastern Canada, pulling prices down. It’s a trend that mirrors median household income across the country as well, making affordability a more pressing priority in the Atlantic provinces, while buyers in the west are generally willing (and able) to pay more.

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After a steady decline throughout 2024, used car prices in Canada are beginning to climb again. The chart above shows the national average price by month, with March showing the continued trend of price increases in 2025. Several factors are driving this upward pressure, despite broader year-over-year declines.

A key contributor is the ongoing shortage of used vehicle supply, which is down nearly 15% compared to this time last year. At the same time, new vehicle pricing remains high, and entry-level options are disappearing — the discontinuation of the Mitsubishi Mirage in 2025 is just one example. Concerns about future tariffs and global supply chain disruptions are also creating uncertainty in the market, prompting buyers to act now before prices climb further.

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The west-to-east pricing trend holds steady across all major vehicle segments — whether you’re shopping for a car, SUV, or truck. In general, western provinces like British Columbia and Alberta continue to see the highest average prices, while Quebec and Atlantic provinces offer more budget-friendly options across the board.

One clear standout this month is the sharp year-over-year decline in truck prices in Ontario, where average values have dropped more than in any other region. This isn’t a subtle trend — it signals a meaningful shift in the segment. In Ontario, a significant portion of used truck inventory is typically exported to the U.S., but softness in the export market — likely driven by tariff concerns and cross-border uncertainty — is applying downward pressure on prices locally. Combined with increased inventory and tighter domestic demand, the result is the same: used trucks in Ontario are more affordable now compared to last year. For buyers in the market for a capable, work-ready pickup, this represents a real window of opportunity.

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While used car prices overall are showing early signs of a rebound, electric vehicles (EVs) continue to see significant price drops, particularly in Ontario and Quebec. In Quebec, provincial EV rebates are playing a key role in reducing average used EV prices, making them some of the most accessible in the country.

This trend isn’t surprising — the EV segment is still relatively young, and we’re seeing a steady increase in the age and mileage of available used EVs. At the same time, new EV prices are gradually coming down, especially as more mass-market options hit the road. Together, these factors are contributing to ongoing price compression in the used EV space, especially in regions with stronger EV adoption and incentive programs.

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Looking for a deal? Your chances of finding an affordable used vehicle vary significantly depending on where you’re shopping — and what you’re shopping for. The chart above highlights the percentage of used cars under $15K, SUVs under $20K, and trucks under $30K across each province.

Notably, Quebec offers the highest share of affordable cars and SUVs, thanks in part to a lower cost of ownership, a dense used vehicle market, and generally lower vehicle values. Meanwhile, Ontario stands out as the best province for affordable used trucks, with a higher share of work-ready pickups selling below $30K.

Prices rise consistently as you move west, reflecting both stronger resale values and a greater willingness to spend in provinces like Alberta and BC.

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Digging into Canada’s most popular used vehicles reveals some telling price patterns. Among the top 50 best-selling models, several Stellantis brands — including Jeep, Dodge, and Ram — saw some of the steepest price drops over the last year. The Hyundai Elantra and Tesla Model 3 also posted notable year-over-year price declines, driven by a combination of growing supply in both segments and softening demand — particularly for Teslas, where Elon Musk’s political foray has dampened consumer sentiment in some markets. Together, these factors are putting downward pressure on prices, creating value opportunities for buyers.

On the other hand, long-time favourites like the Honda Civic, Ford F-150, and Honda CR-V — the top three sellers overall — all recorded year-over-year price increases, showing their staying power in the market. Subaru models and a number of Toyota vehicles also held or increased in value, reflecting continued demand for reliable, fuel-efficient vehicles with strong resale history.

Own one of these top-selling models? See in-depth pricing insights our Car Value Calculator.

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Some vehicles have a bigger influence on the used car market than others — not just because of how much their prices change, but because of how many of them are bought and sold each month. These are the models whose sales volume and pricing volatility give them an outsized impact on national averages, shaping broader market trends more than most.

This month’s Market Makers reflect both stability and disruption. The Toyota RAV4, Honda CR-V, and Ford F-150 continue to act as market stabilizers, holding steady or climbing in value thanks to sustained demand and strong reputations for reliability. On the flip side, sharp price drops from models like the Tesla Model 3, Model Y, Ram 1500 Classic and Hyundai Elantra show how supply growth and shifting buyer interest can quickly tilt the playing field — creating standout buying opportunities in the process.

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While prices are climbing in many segments, there’s still strong demand for vehicles that balance affordability, reliability, and availability. This month’s top-selling affordable models reflect exactly that — high-volume picks that continue to deliver value at accessible price points.

In the under $15K category, compact cars like the Hyundai Elantra, Honda Civic, and Mazda3 remain go-to choices for budget-conscious buyers. Among SUVs under $20K, models like the Ford Escape, Hyundai Tucson, and Nissan Rogue stand out for their utility and year-round drivability. And in the truck segment under $30K, proven performers like the Ram 1500, Ford F-150, and Chevrolet Silverado 1500 show that it’s still possible to find capable workhorses at reasonable prices — especially if you’re willing to act quickly.

Looking for one of these high-demand picks? Browse our affordable inventory at Clutch — every vehicle is fully inspected, reconditioned, and backed by a 10-day money-back guarantee.

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Final Takeaways & What to Expect Next

As of March 2025, used vehicle prices in Canada are showing the early signs of a rebound. While the national average is still down year-over-year, month-over-month increases are starting to appear across multiple segments and regions. The return of upward pressure is being driven by a tightening supply of used vehicles, a shrinking pool of affordable new car alternatives, and growing uncertainty around tariffs and global manufacturing costs.

At the same time, pricing trends remain highly segmented. High-demand models are holding or climbing in value, while other segments — especially used EVs — continue to drop as inventory grows and new car prices soften. Buyers who are flexible on fuel type or brand may find particularly good value in this environment.

Looking ahead, we expect used car prices to continue climbing modestly through the spring and summer. Economic uncertainty and global supply pressures could accelerate that trend, especially as more buyers turn to the used market in search of price stability.

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About This Data

This report is based on Clutch’s internal data, collected from retail vehicle sales reported across Canada. The analysis includes vehicles that meet the following criteria:

• Model year 2015 or newer
• Less than 200,000 km at the time of sale
• Sold listings only (pending and unsold listings are excluded)
  

References to “cars” include both sedans and hatchbacks, while SUVs and trucks are categorized separately. This segmentation helps reflect real-world buyer preferences across different body styles.

While the dataset covers a large national sample, pricing in smaller provinces or regions with lower sales volume may be influenced by individual outliers. This can lead to greater month-over-month fluctuations in certain areas compared to larger markets like Ontario, Quebec, and British Columbia.

The figures presented reflect average asking prices at the time of sale and are designed to provide an accurate snapshot of current market trends.