---
title: Used Car Buying in 2023 – What’s Changed and Why it Matters
description: We’ve looked back on notable stats from previous years and updated them with 2023 results. Here’s what stood out and why it matters to the used car market.
image: https://go.carfax.ca/hubfs/DI23Recap.png
---

# CARFAX Canada Driving Insights

# **Used Car Buying in 2023 – What’s Changed and Why it Matters**

## Wed, Dec 13, 2023

### [Back to Blog](https://go.carfax.ca/blog)

As you know, time changes everything, and your customers are not immune to this.

We looked at some of our previous stats and asked Canadian used car buyers the same questions to see if their answers changed. Here’s what we found, and why it’s important to know:

****

### **Trade-in preparation**

**![DrivingInsights_EOY_11.27.23-Graphic1](https://go.carfax.ca/hs-fs/hubfs/DrivingInsights_EOY_11.27.23-Graphic1.jpg?width=1250&height=371&name=DrivingInsights_EOY_11.27.23-Graphic1.jpg)**

**Why does this matter?** More of your customers are prepping their vehicle for a trade-in, which means more are expecting that their hard work will be noticed, and rewarded, [while trading in](https://go.carfax.ca/blog/justify-the-trade).

 

### **Turning down the trade-in offer**

![DrivingInsights_EOY_11.27.23-Graphic2](https://go.carfax.ca/hs-fs/hubfs/DrivingInsights_EOY_11.27.23-Graphic2.jpg?width=1250&height=368&name=DrivingInsights_EOY_11.27.23-Graphic2.jpg)

**Why does this matter? **Obviously, customers want to get as much as they can for their vehicle. One thing that you can do to combat this rising trend is to make the customer fall in love with a vehicle that is on your lot, and *only* your lot. [Find out what their needs are and find their perfect match](https://go.carfax.ca/blog/why-did-your-customer-turn-down-your-offer).

### **Importance of reviews**

**![DrivingInsights_EOY_11.27.23-Graphic3](https://go.carfax.ca/hs-fs/hubfs/DrivingInsights_EOY_11.27.23-Graphic3.jpg?width=1250&height=564&name=DrivingInsights_EOY_11.27.23-Graphic3.jpg)**

**Why does this matter? **It’s important to know where your customers look to learn about your dealership. When allocating your marketing budget, you want to make sure that you’re spending it in places where your customers are looking, so while Google is still the leader, [1 out of 5 of your customers are looking at social to learn more about you](https://go.carfax.ca/blog/new-landscape-of-customer-reviews).

### **Online listings**

**![DrivingInsights_EOY_11.27.23-Graphic4](https://go.carfax.ca/hs-fs/hubfs/DrivingInsights_EOY_11.27.23-Graphic4.jpg?width=1250&height=489&name=DrivingInsights_EOY_11.27.23-Graphic4.jpg)**

**Why does this matter?** Plain and simple, 4 out of 5 customers are using online listings to find their vehicle. So, selling the vehicle now includes making your website work as a digital salesperson to get them interested in the vehicle on your lot.

The industry evolves quickly, so read about the updated insights and how to adapt to these changes at [https://go.carfax.ca/blog](https://go.carfax.ca/blog).

### Explore how our research can be applied at your dealership to help you win more business - request a consultation with a CARFAX Canada Rep:

Driving Insights  
Driving Insights takes your questions about Canadian car owners and finds the answers! Our proprietary research looks closely at the motives and behaviours of today’s car owners to uncover exclusive insights you won’t find anywhere else. To date, we’ve surveyed over 9,000 Canadians to identify their biggest pain points when buying, selling, and servicing their vehicles. If there’s a question you’d like us to address, email [insights@carfax.ca](mailto:insights@carfax.ca) and we’ll get you some answers!

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