Why Toyota Models Keep Their Value
It’s widely known that Toyota vehicles retain their value better than most other brands. But why is that?
What gives Toyota vehicles their high resale value?
The Toyota Resale Value Formula
Toyota has been around for more than half a century. During this time, they’ve cultivated four particular qualities that have made their vehicles hold their value better than many of their competitors. Those four things are: reliability, cost-to-value ratio, consumer recognition, and reputation. Together, they explain why Toyota vehicles keep their value for so long.
There are likely tens of thousands of old 1990s model Toyota vehicles on the road. If a 30-year-old vehicle with somewhere between 300,000 to 500,000 (or more) miles on it is still driving around in good condition, then Toyota did a bunch of things right. And while you may not want to buy a 1992 Toyota Camry or a 1995 Toyota T100 pickup truck, the fact that you still see them on the road 25+ years later proves that they’re well-constructed and reliable.
Toyota vehicles have always been full to the brim with features. Over the years, Toyota has made their safety suites standard on all models, meaning that the owner of any Toyota vehicle is as safe as possible. Yet, Toyota models are fairly priced. Thanks to their affordability and features, a Toyota vehicle offers a lot of value for a minimum amount of money.
Toyota is the proud parent of the most produced vehicle in history, the Toyota Corolla. With 43 million vehicles produced worldwide, you would be hard pressed to find someone that doesn’t recognize the Toyota brand. For many people, when they think about getting a new car, the first thing they may think of is Toyota. That kind of recognition can’t be bought with a marketing campaign.
Combine the first three factors together and you get a reputation for an excellent product. Which makes sense. Who doesn’t want an affordable, feature-rich vehicle that could potentially last 30+ years? And if you ever tired of the model you bought, you know that it’ll sell for more than its competitors.
Want to Learn How Much Your Toyota is Worth?
Check out our trade-in calculator to learn how much you could get for your used Toyota vehicle. If you’d like to upgrade to a newer Toyota or need a bigger vehicle, we recommend getting pre-approved. That way you know you’ll be getting the best rates before you buy.