by Ty Duffy
Toyota’s hallmark has always been quality, durability, and reliability. The company doesn’t always build the sexiest or most capable vehicles in a given segment on paper. But Toyota cars are generally built and engineered to a standard and last longer than vehicles from other manufacturers. That reputation for quality shows in a relatively low depreciation rate and high resale values for most Toyota vehicles. Cars that have a lot of life left cost a premium.
A CarEdge ranking showed Toyota with the second-highest brand-wide residual value after three years among popular brands at 72.6% on average. Keep in mind that Toyota has a full lineup of vehicles, while first-place Ram currently only sells full-size and heavy-duty pickups. Toyota leads overall when the data set moves to five-year residual values (63.6%) and seven-year (54.6%). According to iSeeCars.com, Toyota produced eight of the Top 25 vehicles with the lowest five-year depreciation.
Of course, not all Toyota vehicles are depreciation champions. The Japanese brand produces a handful of cars that don’t quite resonate with used-car buyers. And the vehicle on the market that suffers the most catastrophic depreciation — at least by one measure — is actually a Toyota.
The Toyota Mirai
Toyota
Toyota has been perhaps the biggest proponent of hydrogen technology. It works in theory. Hydrogen cars don’t require heavy, costly batteries. They can refuel in about five minutes rather than charging. And their tailpipe emission is water vapor. The one problem is the utter lack of infrastructure outside of California. Toyota put the midsize Mirai sedan into production in 2014 and gave it a rather fetching facelift. But depreciation on the Mirai is cataclysmic.
How Much Depreciation A Toyota Mirai Suffers
CarEdge ranked the Mirai dead last for residual value, which, by their estimate, is just 23% after three years. For comparison, the average for the Toyota brand in that study was 72.6% after three years. A quick look from CarBuzz found year-old Mirai models listed for between $15,000 and $18,000. The Mirai, being a profoundly niche vehicle, is a problem. But another factor dragging the price down is Toyota offering incredible deals – think 70 percent off – to move new models at dealer lots. Why would you buy a used Mirai?
The Toyota bZ4X
Toyota
The bZ4X is Toyota’s first modern electric car aimed at the mass market. The initial version, before the 2026 refresh, was fine but a bit disappointing with a low range compared to competitors. EVs typically suffer substantial depreciation, with perhaps overwrought concerns about battery degradation. And until the elimination of the federal tax credit, manufacturers were offering cheap lease deals on new EVs. So it’s not too surprising that a used bZ4X was not a hot-ticket item.
How Much Depreciation A Toyota bZ4X Suffers
According to Consumer Reports, a 2023 bZ4X should cost between $18,400 and $22,225, which would represent depreciation in the mid-50% range over three years. CarEdge ranked the Toyota bZ4X 169th out of 185 vehicles examined for three-year depreciation, with a 50.1% depreciation rate. Those numbers track with other, not particularly popular used EVs. But it’s still extremely low by Toyota standards.
The Toyota Crown
Toyota
Toyota introduced the Crown for 2023 as a de facto replacement for the Avalon full-size sedan. It’s technically the crossover version in Japan. But by American standards, the Crown is a high-riding, fastback sedan. It has some commendable qualities. But it’s also not the most natural fit for the American market, and that kind of shows in the resale values.
Read the full article on CarBuzz
This article originally appeared on CarBuzz and is republished here with permission.
