The Toyota RAV4 and Highlander are two of the Japanese auto giant's bestselling crossover SUVs in America. While the RAV4 is a compact SUV, the Highlander is a larger three-row SUV. In this article, we'll explore the depreciation rates of these two SUVs and analyze the factors that contribute to their resale values.
Depreciation Rates
According to Kelley Blue Book, the 2021 Toyota Highlander has depreciated 29% in the past three years, while the 2021 RAV4 has depreciated 25%. This means that a 2021 Highlander can be purchased in 2026 for around $22,500, while a 2021 RAV4 can be purchased for around $21,100. The trade-in value for the Highlander is $18,200, while the trade-in value for the RAV4 is $19,150.
Factors Affecting Resale Value
Larger SUVs like the Highlander tend to lose their value faster due to their heavier bodies and larger engines. High gas prices and maintenance costs have made larger SUVs less desirable in the used car marketplace, leading to lower residual values. On the other hand, smaller cars and SUVs like the RAV4 tend to hold their values better than midsize SUVs.
Hybrid Models
The hybrid versions of the RAV4 and Highlander depreciate a bit slower than their gasoline counterparts. The 2021 Toyota RAV4 Hybrid has depreciated 24% over the last three years, while the 2021 Toyota Highlander Hybrid has depreciated 24% as well. The resale and trade-in values for the hybrid versions are higher than their gasoline counterparts, making them a more attractive option for those looking to sell their vehicles.
Conclusion
In conclusion, the Toyota RAV4 and Highlander have different depreciation rates and resale values due to their size, engine type, and hybrid status. While the Highlander tends to depreciate faster, the RAV4 holds its value better. The hybrid versions of both SUVs depreciate a bit slower and have higher resale values, making them a more attractive option for those looking to sell their vehicles.
