Wednesday July 1st – our Sales Department will be open, from 9 a.m. to 8 p.m. Only this department will be available. We look forward to seeing you!
Wednesday July 1st – our Sales Department will be open, from 9 a.m. to 8 p.m. Only this department will be available. We look forward to seeing you!
Have you been watching the market for months, waiting to find a vehicle that fits your budget? Fall 2026 might just be the moment you have been waiting for. After years of scarcity and record prices inherited from the pandemic, the numbers are finally telling a different story: used vehicle prices are coming down, inventory is building back up and interest rates have stopped climbing.
But an average drop does not mean everything costs less, nor that waiting will always pay off. In this article, we look at what the 2026 data actually says, the segments where the bargains are, how the key interest rate affects your financing and the questions to ask yourself before deciding that now is the right time for you.
Canada’s two major price indexes point in the same direction. According to the AutoTrader price index, the average price of a used vehicle in Canada stood at $36,690 in the second quarter of 2026, down 2.6% year over year. For its part, the CARFAX Canada analysis, based on transactions rather than listing prices, measured an annual decline of 2.3% in the first quarter.
Two different methodologies, one conclusion: after the peak of the shortage years, the used vehicle market is easing. Make no mistake, this is not a collapse, only a gradual pullback of 2 to 3% year over year, while the supply of available vehicles has been building back up since the start of the year. More choice and prices that are slipping slightly: the combination works in the buyer’s favour.
Good news for buyers here: both indexes also confirm that Quebec remains one of the most affordable places in Canada to shop for a used vehicle. AutoTrader puts the average Quebec price at $35,746, below the national average, while CARFAX Canada ranks Quebec among the provinces with the lowest prices in the country, just behind the Atlantic provinces.
The gap with Ontario or Western Canada can represent several hundred, even a few thousand dollars for a comparable vehicle. Buying at home, in Quebec, is not only simpler for registration and warranty purposes: it is often better for your wallet too.
There is nothing mysterious about it. During the new vehicle shortage of 2021 to 2023, many drivers turned to the used market, which pushed prices up. Since then, new vehicle production has returned to normal, leases signed during those years are gradually coming back onto the market and used inventory is rebuilding. The result: buyers are finding more attractive prices.
An average always hides gaps. According to CARFAX Canada data, passenger cars (sedans, compacts and subcompacts) have declined faster than the overall market, while SUVs and pickup trucks, still in high demand in Quebec, are holding up better. August data from CarGurus points the same way, with steeper declines among very common compact SUVs, while some pickups held steady or edged up slightly.
The vehicle’s price is only half the equation: the other half is the cost of your financing. On September 2, 2026, the Bank of Canada held its key interest rate at 2.25%, a seventh consecutive hold. The key rate is the benchmark from which financial institutions set their own lending rates: when it stabilizes, auto loan rates stop moving around too.
Be careful, however, about counting on further cuts. At the time of writing, in September 2026, several economists are no longer ruling out rate increases by mid-2027 because of inflationary pressures. No one knows what comes next, but one thing can be measured today: falling prices and stable rates already add up to a favourable window.
The real question is not “will prices keep falling?” but “what is waiting costing me?”. If your current vehicle is reliable, paid off and light on repairs, waiting costs you almost nothing. If you are driving a vehicle at the end of its life that keeps piling up garage bills, every month of waiting eats into the savings you are hoping for.
You also have to think about the other side of the transaction: if you plan to trade in your current vehicle, its value follows the same curve as the market. A falling market lowers the price of the vehicle you are buying, but also the value of the one you are giving up. To learn how to maximize that value, read our article on how a dealership appraises your trade-in.
Our Auto Durocher advice: do not shop “the market”, shop for a specific vehicle. Define your needs, your weekly budget and two or three target models, then compare the actual listed prices for those models. An average drop does you no good; a concrete deal on the vehicle you need does.
A favourable market does not exempt you from doing your homework. Here is how to turn the conditions into real savings:
Used vehicle prices are down 2 to 3% year over year according to the AutoTrader and CARFAX Canada indexes, supply is rebuilding and Quebec remains one of the most affordable markets in the country. The key interest rate, steady at 2.25%, offers a predictable financing environment, with no guarantee of further cuts.
The best opportunities are among sedans and some very common compact SUVs; pickup trucks are holding their value. And if you have a vehicle to trade in, remember that its value moves with the same market. The right time to buy depends less on the national average than on your situation: the condition of your current vehicle, your budget and the model you need.
At Auto Durocher, we inspect and test every one of our vehicles, and the listed price is the price of the vehicle, with no hidden fees. Our team works with 18 financial institutions to build financing that fits you, including 2nd and 3rd chance credit. Browse our used vehicle inventory or explore our financing options to turn the market conditions into real savings.
This payment estimation tool is for informational purposes only and does not constitute a credit offer within the meaning of the Consumer Protection Act (CQLR c. P-40.1). The amounts displayed are estimates only and may differ from the actual terms that will apply to the credit contract.
The selling price, credit rate, and actual payments will be determined at the time a written contract is concluded in accordance with applicable legal requirements.
Any financing offer is subject to credit approval by a third-party financial institution, in accordance with applicable lending criteria. The consumer may not qualify for the estimated credit rate displayed.
The displayed price is based on the base price established by Auto Durocher. It excludes, among other things:
While we make every effort to ensure the accuracy of the information, errors may occur. Consumers are encouraged to contact Auto Durocher directly for complete and up-to-date information.
The credit rates displayed are provided for information purposes only. The actual annual percentage rate (APR) will be disclosed in accordance with the Consumer Protection Act in the credit contract.
The applicable rate will depend, among other factors, on:
Not all consumers will qualify for the lowest available rates. Certain conditions, restrictions, and eligibility requirements apply.
The estimated payment represents an approximation of periodic payments (principal and cost of credit) for an instalment credit contract relating to a used vehicle.
The actual payments will be set out in a written contract specifying, in particular:
in accordance with applicable provisions of the Consumer Protection Act.
The displayed amounts do not include certain fees, including administration fees, security registration fees, and other fees permitted by law.
Weekly payments are calculated based on the equivalent monthly payments using an annualization method, divided over fifty-two (52) weeks. This method is provided for estimation purposes only and may differ from the method used in the final contract.
Consumers are encouraged to consult Auto Durocher to obtain full disclosure in compliance with legal requirements before entering into any agreement.
