If you’ve been waiting for the used car market to calm down, 2026 has been that year. According to CARFAX Canada’s mid-year market update (data through June 2026), used vehicle prices have stopped sliding and are now holding in a narrow range — while the number of vehicles for sale keeps climbing.
The numbers
- Prices are flat, and lower than last year. National average listing prices rose just 0.2% from May to June, and were 4.7% below June 2025.
- More choice on the lot. Used inventory jumped 15.5% month over month in June and was 2.5% higher than a year earlier.
- Used EVs are the exception. The average used EV listing was $42,834 in June — up 1.1% from May, though still 1.7% below June 2025.
In CARFAX Canada’s words: “After declining throughout much of 2025, pricing has largely stabilized during 2026.” The report also notes that while EV and hybrid inventory is growing, “affordable entry-level used EV options remain relatively limited.”
What this means for you
1. You have time to shop properly
With prices steady and inventory up, there’s less pressure to grab the first vehicle you see. Compare a few similar vehicles, book test drives and get a vehicle history report before you commit.
2. There’s room to negotiate
More inventory means more competition for buyers. Asking prices are a starting point, especially on vehicles that have been listed for a while.
3. Your financing matters as much as the price
With prices flat, the biggest swing in what you actually pay often comes from your interest rate and loan term. A lower rate or a shorter term can save you thousands over the life of the loan — see our guide to what the Bank of Canada’s rate hold means for car loans.
4. Keep an eye on new-car pricing
Trade tensions and tariffs on vehicles and parts crossing the Canada–U.S. border have been widely expected to push new-vehicle prices higher. When new cars get more expensive, more buyers shift to used — which can firm up used prices later. If you’ve found the right vehicle at the right price, waiting isn’t guaranteed to get you a better deal.
The bottom line
Fall 2026 is a buyer-friendly moment: steady prices, more selection and room to negotiate. Browse our current inventory, or get pre-approved so you know your budget before you shop.
Source: CARFAX Canada Mid-Year Used Market Insights (data through June 2026), as reported by Repairer Driven News, August 21, 2026.