The state of the Canadian used car market: Trends, insurance, and the true cost of ownership Mar 9th

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The state of the Canadian used car market: Trends, insurance, and the true cost of ownership

– moneysense.ca

If you’ve been watching used car prices over the past year, you’re probably wondering if they’ll keep accelerating. Before you make a plan to trade in your vehicle or decide how much of a down payment to make, take a moment to anticipate what’s going on in the used car market this year.

We spoke with Dan Park, CEO of Clutch, Canada’s largest online used car retailer, about the company’s latest annual used car pricing report. We also wanted to learn about how Canadians are handling higher used car prices at a time when car insurance costs are climbing. Could you benefit from any of these changes or do you need to adjust your approach to buying a vehicle?

What to expect with used car prices in 2026

As we reported this winter, the price of used cars (even end-of-year deals) reached over $33,000 in 2025—a 3.5% increase in used car costs over the previous year.

There was a silver lining, though: used car prices were starting to fall by the end of the year due to lower gas prices and more EVs available across all used car segments…

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