Toyota Highlander: Boosting Your Resale Value

Toyota Highlander Resale Value: 3 Best Tips for 2024

The Toyota Highlander resale value is a topic of interest for many potential car buyers who are looking to make a wise investment in a vehicle. If you’re considering buying a Highlander, you’ll be pleased to know that this SUV is renowned for its reliability and impressive resale value retention. On average, a Toyota Highlander retains about 61.9% of its original value after five years, which means it’s one of the best choices for those concerned about depreciation.

With a reputation built on reliability, comfort, and safety, the Highlander appeals to those who value long-term dependability. Whether you’re looking for a family-friendly vehicle or a versatile SUV that tackles various road conditions with ease, the Highlander stands as a top choice. Its excellent value retention, along with a lower depreciation rate compared to some competitors like the Ford Explorer and Jeep Grand Cherokee, further underscores its position as a smart purchase for budget-conscious car buyers.

Understanding Toyota Highlander Resale Value

When it comes to the Toyota Highlander resale value, understanding the factors that influence it can help you make informed decisions. Let’s explore the elements that play a crucial role in determining how much your Highlander is worth over time.

Factors Influencing Resale Value

1. Depreciation: Depreciation is the decrease in a car’s value over time. The Highlander is known for its slower-than-average depreciation rate. It loses only 41.3% of its value after five years, compared to the midsize SUV category average of 48.5%. This makes it a standout choice if you’re looking to minimize depreciation costs.
2. Value Retention: The Highlander boasts strong value retention. Many models from 2016 to 2020 have consistently sold above the average market rate, showing that buyers trust this vehicle enough to pay a premium. This trend suggests that the Highlander is not just a reliable car but also a smart investment.
3. Mileage and Condition: Lower mileage and good condition are critical for maintaining a car’s value. Keeping your Highlander well-maintained and ensuring it has a clean service history can significantly boost its resale value. Regular maintenance tasks, like oil changes and tire rotations, are essential to preserve its longevity and appeal.
4. Maintenance: Routine maintenance is key to retaining your Highlander’s value. A well-documented service history can reassure potential buyers and justify a higher resale price.

Toyota Highlander vs Competitors

In the competitive midsize SUV market, the Highlander holds its own against several rivals.

• Ford Explorer: The Highlander outshines the Ford Explorer with a much lower depreciation rate of 21% over five years, compared to the Explorer’s 37%. This difference highlights the Highlander’s superior value retention and lower overall cost of ownership.
• Jeep Grand Cherokee: While the Grand Cherokee retains 54% of its value over five years, it offers a different appeal with its off-road capabilities and recent plug-in hybrid model. However, the Highlander still presents a strong case for those prioritizing resale value and reliability.
• Subaru Ascent: The Ascent matches the Highlander with a 21% depreciation rate over five years. It offers a spacious third row and standard all-wheel drive, making it a formidable competitor. Yet, the Highlander’s established reputation for reliability often tips the scale in its favor.
• Toyota 4Runner: The 4Runner boasts an impressive 64.4% value retention after five years, surpassing the Highlander. It’s a great choice for those who prioritize resale value above all else, but the Highlander offers a more balanced option for everyday use.

In summary, the Toyota Highlander stands out in the midsize SUV segment for its reliability, strong resale value, and lower depreciation rate. It competes well against its rivals, making it a favorite among budget-conscious buyers.

Best Model Years for Resale Value

When considering a Toyota Highlander for its resale value, specific model years stand out for their exceptional value retention. Let’s explore the best model years to consider: 2023, 2022, and 2021.

2023 Model

The 2023 Toyota Highlander is a top contender for resale value. With a 5-year resale value of approximately 61.9%, this model retains a significant portion of its original price. The 2023 model comes with updated features and technology, making it a popular choice for buyers looking for a modern midsize SUV. Its strong value retention is a testament to Toyota’s commitment to quality and reliability, ensuring that even as it ages, it remains a sought-after vehicle.

2022 Model

The 2022 Highlander is another excellent option if you’re focusing on resale value. It maintains a high resale percentage, similar to the 2023 model, thanks to its reputation for reliability and performance. With a current market price of around $36,243, the 2022 model offers a balance between cost and value retention. Buyers appreciate its spacious interior and advanced safety features, which contribute to its lasting appeal in the used car market.

2021 Model

The 2021 Toyota Highlander also stands out for its resale value, retaining about 76.51% of its original price. This model year continues to attract buyers with its combination of comfort, technology, and safety features. Priced at approximately $35,119 on the used market, the 2021 Highlander offers a more affordable entry point while still ensuring strong value retention. Its consistent performance and reliability make it a trusted choice for families and individuals alike.

In summary, the 2023, 2022, and 2021 Toyota Highlander models are excellent choices for those prioritizing resale value. Their strong value retention, coupled with Toyota’s reputation for reliability and quality, makes them wise investments in the midsize SUV market.

Tips to Maximize Your Toyota Highlander’s Resale Value

If you’re looking to get the most out of your Toyota Highlander resale value, there are a few key strategies to keep in mind. These simple steps can help ensure that your vehicle remains attractive to potential buyers and retains its value over time.

Regular Maintenance

Keeping up with regular maintenance is crucial. A well-maintained Highlander not only performs better but also holds its value. Make sure to follow the recommended service schedule, which includes regular oil changes, tire rotations, and brake inspections. Staying on top of these tasks signals to buyers that the vehicle has been cared for, which can justify a higher resale price.

Low Mileage

Mileage is a major factor in a car’s resale value. Lower mileage often translates to less wear and tear, making the vehicle more desirable. If possible, limit long trips and consider carpooling or using alternative transportation for daily commutes. This small adjustment can significantly impact your Highlander’s value when it’s time to sell.

Clean Interior

A clean and well-maintained interior can make a huge difference. Regularly vacuum and clean the seats, dashboard, and carpets. Consider using seat covers to protect upholstery from stains and wear. Keeping the interior in pristine condition not only improves your driving experience but also appeals to buyers who appreciate a well-kept vehicle.

By focusing on these areas—regular maintenance, low mileage, and a clean interior—you can boost your Toyota Highlander’s resale value. These efforts will pay off when it’s time to sell, ensuring you get the best return on your investment.

Frequently Asked Questions about Toyota Highlander Resale Value

Do Toyota Highlanders hold their value?

Yes, Toyota Highlanders hold their value remarkably well. According to iSeeCars, the 2023 Highlander retains about 61.9% of its original value after five years. This impressive figure places it among the top vehicles for value retention. The Highlander’s resale value is supported by its reputation for reliability, comfort, and practicality. It’s not just a popular choice; it’s a smart investment for those looking to minimize depreciation.

Is the Toyota Highlander worth buying?

Absolutely. The Toyota Highlander is a standout in the midsize SUV category. It offers a spacious interior, user-friendly technology, and strong safety features. These standard features make it a practical choice for families or anyone needing a versatile vehicle. When you factor in its strong resale value and low depreciation rate, the Highlander becomes an even more appealing option. Both Kelley Blue Book and iSeeCars highlight its exceptional value retention, reinforcing its worthiness as a purchase.

What is the depreciation rate of a Toyota Highlander?

The depreciation rate of a Toyota Highlander is notably low compared to other vehicles. CarEdge reports that the Highlander depreciates by only 21% after five years. This means it maintains a significant portion of its residual value over time. Such a low depreciation rate makes the Highlander a wise choice for those concerned about losing money on their vehicle investment. It’s a testament to Toyota’s commitment to quality and durability, ensuring that your Highlander remains a sound investment for years to come.

Conclusion

In summary, the Toyota Highlander stands out as a top choice for those seeking a vehicle with excellent resale value. Its reputation for reliability, comfort, and practicality ensures that it retains its value well over time. With a five-year resale value of approximately 61.9% according to iSeeCars, the Highlander is a smart investment for anyone looking to minimize depreciation.

At All Used Cars LLC, we understand the importance of making a sound investment in a vehicle. That’s why we offer a wide selection of quality used Toyota Highlanders across our extensive dealer network in states like California, Texas, and Florida. Our goal is to provide you with the best options and competitive prices to ensure you find the perfect Highlander for your needs.

Whether you’re looking for a reliable family vehicle or a versatile SUV with strong resale value, the Toyota Highlander is a choice you won’t regret. Explore our inventory today and find why the Highlander continues to be a favorite among savvy car buyers.

Explore our selection of used Toyota Highlanders now.