- According to CarGurus data, the Jeep Grand Cherokee 4xe is the best value used car on sale in Canada right now.
- It's joined in our top 10 list by the Jeep Wrangler 4xe, BMW 5 Series and Dodge Hornet, as well as the Mercedes-Benz GLB and Land Rover Range Rover Velar.
If you’re shopping for a used SUV or a plug-in hybrid, this is a good month to be looking. Where this list was dominated by electric vehicles a year ago, the biggest year-over-year price drops in Canada right now are spread across SUVs, crossovers and a pair of Jeep plug-in hybrids.
So what’s behind the shift? Plug-in hybrids and premium SUVs tend to carry high sticker prices when new, and as more of them reach the used market their values are giving way. The two Jeep 4xe models lead the way, while luxury badges like BMW, Mercedes-Benz and Land Rover also feature, proving there are real savings to be had further up the market. For buyers, it all adds up to more choice and bigger discounts than a year ago.
The prices used in this guide are compiled and analyzed using data from dealership vehicle sales listings at CarGurus.ca. Our assessment of value is based on the year-over-year change in price on listings for these vehicles versus one year ago.
The Best Value Used Cars in Canada in June 2026
1. Jeep Grand Cherokee 4xe (2022-)
Average listing price in May 2025: $60,629
Average listing price in May 2026: $49,133
Percentage reduction: -19.0%
The Grand Cherokee 4xe takes the top spot this month, which is striking given it was one of the priciest plug-in hybrids on the market when new. This is the electrified version of Jeep’s flagship SUV, pairing a turbocharged four-cylinder with an electric motor for around 40 km of all-electric range — enough to cover many daily commutes without burning a drop of fuel. It keeps the Grand Cherokee’s genuine off-road ability and adds a plush, well-equipped cabin. With prices now averaging roughly $11,500 less than a year ago, it’s a lot of luxury SUV for the money, provided you’re happy to keep it plugged in to see the best of it.
2023 Jeep Grand Cherokee 4xe Review
2. Jeep Wrangler 4xe (2021-)
Average listing price in May 2025: $52,283
Average listing price in May 2026: $42,395
Percentage reduction: -18.9%
Joining its sibling near the top is the Wrangler 4xe, the plug-in hybrid take on Jeep’s iconic off-roader and one of the best-selling PHEVs in North America. It offers around 35 km of electric-only range, which is ideal for silent, emissions-free trail running, while the gas engine handles longer trips. As ever with a Wrangler, the trade-offs are a firm, bouncy ride and plenty of wind noise on the highway, but nothing else drives quite like it or goes as far off the beaten path. A near-$10,000 drop over the past year makes it more attainable than ever.
2021 Jeep Wrangler 4xe Review
3. Chevrolet Cruze (2011-2019)
Average listing price in May 2025: $16,117
Average listing price in May 2026: $13,402
Percentage reduction: -16.8%
The Cruze is the bargain of the bunch and the only traditional compact sedan in the top three. Chevrolet stopped building it in 2019, but as a used buy it remains a sensible, no-drama commuter, with comfortable seats, a roomy trunk and frugal turbocharged engines that sip fuel on the highway. It was never the most exciting car in its class, but it’s easy to live with and cheap to run. With an average price now around $13,400, it’s an affordable way into reliable, efficient daily transport.
4. BMW 5 Series (2017-)
Average listing price in May 2025: $46,426
Average listing price in May 2026: $39,890
Percentage reduction: -14.1%
Few cars blend comfort, technology and driving enjoyment as well as the BMW 5 Series, and steep depreciation now makes this executive sedan a tempting used buy. It goes up against the Mercedes-Benz E-Class and Audi A6, offering a refined ride, a high-quality cabin and a range of strong gas and plug-in hybrid (530e) powertrains. As with any used luxury car, the savings on the purchase price can be offset by higher running and maintenance costs, so it pays to budget accordingly and seek out a well-serviced example.
5. Dodge Hornet (2023-)
Average listing price in May 2025: $40,851
Average listing price in May 2026: $35,253
Percentage reduction: -13.7%
The Hornet is one of the newest models on the list, which makes a near-14% drop in just a year especially notable. This compact SUV shares its bones with the Alfa Romeo Tonale and was pitched as a sportier alternative to the mainstream crowd, with a peppy turbocharged GT and a plug-in hybrid R/T version. Early examples are now reaching the used market in numbers, and with prices softening it’s worth a look for buyers who want something a little different in the compact SUV space.
2024 Dodge Hornet Review
6. Buick Encore GX (2020-)
Average listing price in May 2025: $20,351
Average listing price in May 2026: $17,687
Percentage reduction: -13.1%
The Encore GX is a subcompact crossover that punches above its price for comfort and refinement. It’s easy to drive, quiet on the move and surprisingly well-equipped, with efficient three-cylinder turbo engines that keep fuel bills low. It won’t thrill keen drivers, but as easygoing, good-value family transport for city and suburban life it makes a strong case, especially now that average prices have dipped to around $17,700.
2024 Buick Encore GX Review
7. Nissan Qashqai (2017-2022)
Average listing price in May 2025: $24,548
Average listing price in May 2026: $21,398
Percentage reduction: -12.8%
Sold elsewhere as the Rogue Sport, the Qashqai is a practical compact crossover that’s well-suited to Canadian commuting. It’s roomy enough for small families, easy to park, and efficient, with a comfortable ride that prioritizes everyday usability over outright fun. Nissan has since wound the model down here, but that only helps its case as a used buy: there’s plenty of choice on the market and prices have come down nicely over the past year.
8. Mercedes-Benz GLB (2020-)
Average listing price in May 2025: $44,635
Average listing price in May 2026: $38,952
Percentage reduction: -12.7%
The GLB offers a rare combination in the compact luxury class: available seven-seat practicality wrapped in a boxy, usefully spacious body. It brings the premium cabin materials and tech you’d expect of a Mercedes, along with efficient turbocharged four-cylinder engines, and rivals the likes of the Audi Q3 and BMW X1. With prices down more than $5,500 year-over-year, it’s an increasingly affordable way into a three-pointed-star SUV, ideal for families who want a touch of luxury without stepping up to a larger model.
2022 Mercedes-Benz GLB-Class Review
9. Ford Edge (2015-2024)
Average listing price in May 2025: $32,296
Average listing price in May 2026: $28,196
Percentage reduction: -12.7%
The Edge is a spacious two-row midsize SUV that majors on comfort and family-friendly practicality. There’s generous room for passengers and cargo, a smooth ride and plenty of available tech, while the sporty ST version adds genuine pace for those who want it. Ford has now retired the Edge, but a healthy used supply and a 13% year-over-year price drop make it a sensible, roomy choice for buyers who don’t need a third row.
2020 Ford Edge Review
10. Land Rover Range Rover Velar (2018-)
Average listing price in May 2025: $49,205
Average listing price in May 2026: $43,019
Percentage reduction: -12.6%
Rounding off the list is the most design-led car here. The Velar is a midsize luxury SUV that turns heads with its clean styling and minimalist, screen-heavy interior, and backs it up with a comfortable ride and a dose of real off-road ability. Depreciation has made this a far more accessible slice of Land Rover luxury than it once was, but it’s worth going in with eyes open: like many premium SUVs, running and maintenance costs can be high, so a thorough history check and a remaining warranty are well worth seeking out.
2022 Land Rover Range Rover Velar Review
Frequently Asked Questions
What is the best value used car in Canada right now?
According to CarGurus listing data, the Jeep Grand Cherokee 4xe is currently the best-value used car in Canada. Its average listing price has fallen by about 19% over the past year — the steepest drop in our analysis — bringing a premium plug-in hybrid SUV that cost considerably more when new down to an average of around $49,100.
Which used cars are losing value the fastest in Canada?
This month’s biggest fallers are led by plug-in hybrids and SUVs. The two Jeep 4xe models top the list, both down around 19%, followed by the Chevrolet Cruze (-16.8%) and the BMW 5 Series (-14.1%). A cluster of crossovers and SUVs — the Dodge Hornet, Buick Encore GX, Nissan Qashqai, Mercedes-Benz GLB, Ford Edge and Land Rover Range Rover Velar — round things out with year-over-year drops of 12 to 14%.
Are used plug-in hybrids a good buy in 2026?
They can offer excellent value. Plug-in hybrids like the Jeep Grand Cherokee 4xe and Wrangler 4xe command high prices when new, so the heavy depreciation seen here works in a used buyer’s favour. The key is to actually use the electric range — a PHEV makes the most financial sense when charged regularly for short trips, with the gas engine reserved for longer journeys. It’s also worth checking the condition of the battery and any remaining warranty.
Why are used SUV prices dropping in Canada?
Used values move with supply and demand. As more SUVs and crossovers — including premium and plug-in hybrid models — reach the used market, average prices tend to ease. That’s good news for buyers, who can now find more choice and bigger year-over-year savings, particularly in the popular compact and midsize SUV segments.
Is now a good time to buy a used car in Canada?
For these particular models, the value on offer is stronger than it was a year ago, since each one has dropped notably in price. As always, the smart approach is to balance the purchase saving against running costs, insurance and reliability, and to prioritize a well-maintained example with service history — ideally one still covered by some form of warranty.
How does CarGurus determine the best value used cars?
Each month we compare current average listing prices on CarGurus.ca against prices from the same month a year earlier, then rank the models that have dropped the most in percentage terms. The result highlights the vehicles offering the biggest year-over-year value improvement for Canadian used-car shoppers. For more details, read our Methodology section, below.
Methodology
Few companies see as much real-world pricing activity as a used car marketplace, and at CarGurus we put that visibility to work for shoppers. Across our listings we surface the kind of detail that helps buyers judge a deal with confidence, from deal ratings and price-drop history to how long a given vehicle has been sitting on the market.
For this monthly guide, our analysts track how average listing prices have moved over the past 12 months across thousands of models, then highlight the 10 that have fallen the furthest in percentage terms. The result is a snapshot of where the strongest year-over-year value currently sits for Canadian used-car buyers.
To keep the rankings meaningful, we only consider models with at least 100 listings on CarGurus.ca, and we limit the data to vehicles from 2015 and 2025 with between 5,000 and 100,000 kilometers on the odometer. That filtering keeps nearly-new, delivery-mileage cars – which carry much higher prices and would distort the averages — out of the comparison, so the figures reflect genuine used-market value rather than statistical quirks.
Related Topics:
