Do Toyota highlanders depreciate?
The Toyota Highlander is a popular midsize SUV known for its reliability, spacious interior, and family-friendly features. However, like all vehicles, it experiences depreciation over time. In this article, we will explore the factors that influence the depreciation of Toyota Highlanders and provide insights into how they hold their value compared to other vehicles in the market.
Understanding Vehicle Depreciation
Depreciation is the reduction in the value of a vehicle over time, typically due to wear and tear, age, and market demand. For most vehicles, depreciation is most significant in the first few years after purchase. Here are some key factors that affect the depreciation of a Toyota Highlander:
- Initial Purchase Price: The higher the initial cost, the more significant the depreciation can be.
- Market Demand: Popular models tend to retain their value better due to higher demand.
- Condition and Maintenance: Well-maintained vehicles depreciate less than those that have been poorly cared for.
- Mileage: Higher mileage typically leads to greater depreciation.
- Model Year: Newer models may depreciate faster initially but can stabilize over time.
Depreciation Rates of Toyota Highlanders
According to industry reports, Toyota Highlanders generally depreciate at a moderate rate compared to other SUVs. On average, a Highlander can lose about 50-60% of its value within the first five years. However, several factors can influence this rate:
- Trim Level: Higher trim levels with more features may retain value better than base models.
- Fuel Efficiency: Models with better fuel economy are often more desirable, impacting their resale value positively.
- Safety Ratings: High safety ratings can enhance a vehicle's appeal, helping it retain value.
Conclusion
In summary, while Toyota Highlanders do depreciate like all vehicles, they tend to hold their value relatively well compared to many competitors in the midsize SUV segment. Factors such as maintenance, mileage, and market demand play crucial roles in determining how much value a Highlander will lose over time. For potential buyers, understanding these aspects can help make informed decisions when purchasing a used Highlander.
Frequently Asked Questions
Is Toyota Highlander expensive to maintain?
A Toyota Highlander will cost about $6,013 for maintenance and repairs during its first 10 years of service. This beats the industry average for popular SUV models by $2,237. There is also a 16.08% chance that a Highlander will require a major repair during that time.
Does the Toyota Highlander hold its value?
A 2022 Toyota Highlander has depreciated $10,241 or 26% in the last 3 years and has a current resale value of $28,379 and trade-in value of $25,561. The 2022 Toyota Highlander is in the top 10-25% for depreciation among all 2022 SUVs.
What is the major problem of Toyota Highlander?
Frequent Issues Associated with Toyota Highlander Years
Engine failure around 120,000 miles, often noted in earlier models. Stripped engine bolts that typically occur around 130,000 miles, leading to severe performance issues. Excessive oil consumption, a problem recurring across multiple years.
Is Toyota Highlander high maintenance?
According to Toyota, budget around \$500 per year for a Highlander's regular maintenance like oil changes, tire rotations, fluid flushes, etc. Highlanders are very reliable vehicles, so major repairs are infrequent. However, parts and labor can be expensive when they are needed.
What is the life expectancy for Toyota Highlander?
300,000 miles
The Toyota Highlander is one of the longest-lasting midsize SUVs available, with the ability to continue running up to 300,000 miles after your drive it off the lot.
What SUVs depreciate the least?
Best Resale Value Hybrid SUVs
- Jeep Wrangler Unlimited (Plug-in Hybrid): 72.2%
- Toyota RAV4 Hybrid: 69.6%
- Jeep Wrangler (Plug-in Hybrid): 69.5%
- Subaru Crosstrek (Plug-in Hybrid): 68.9%
- Toyota RAV4 Prime: 65.6%
What is the best year of Highlander to buy used?
Toyota Highlander's Highlights
Particularly, the 2006-2007 and 2016–2019 models are known for their reliability and value. Some Toyota Highlander model years to avoid due to known issues are the early 2001–2002 models with mechanical problems and the 2008 models, which faced numerous recalls and complaints.
Are Toyota Highlanders a reliable vehicle?
Quality and Reliability 81.0/100
The 2025 Toyota Highlander has a predicted reliability score of 79 out of 100. A J.D. Power predicted reliability score of 91-100 is considered the Best, 81-90 is Great, 70-80 is Average and 0-69 is Fair and considered below average.
Is Toyota Highlander cheap to maintain?
The average total annual cost for repairs and maintenance on a Toyota Highlander is $489, compared to an average of $573 for midsize SUVs and $652 for all vehicle models.
Are used Highlanders reliable?
Toyota is known for building reliable vehicles, and the Highlander is no exception. With proper maintenance, a used Highlander can last for many years and miles. The Highlander also has a spacious and practical interior, with plenty of cargo space and seating for up to eight passengers, depending on the model year.
