Why is Toyota Resale Value So High?

A car’s resale value isn’t always a top priority for buyers. Many people analyze the vehicle’s appearance, comfort, performance, and technology without assessing how much they stand to lose if they decide to sell it. They’re hardly to blame, as that moment probably won’t come soon. However, getting a car with high resale value can yield future financial rewards. While all vehicles depreciate, some do so at a slower rate than others.

There are many reasons why Toyota is the world’s top-selling car manufacturer. Toyotas are visually attractive, high-performing, and come with many modern tech features, to name just a few. However, their models’ exceptional resale value is what sets the Japanese carmaker apart from other companies. Kelley Blue Book named Toyota the best resale value brand for 2023 for a third consecutive year. Here are some reasons for that.

Toyotas Are Exceptionally Reliable and Well-Built

We begin with the most obvious reason any vehicle retains most of its value over time. Toyotas are extraordinarily reliable vehicles, mainly due to the company’s total commitment to quality in all aspects of car manufacturing. Some specific reasons why they stand the test of time better than other brands’ vehicles are:

• High-quality materials: There’s no compromise when it comes to the materials used to build a Toyota. Everything must meet high-quality standards, from engine parts to the plastic on the dashboard.
• Top engineers: An effective way to make quality products is to set high standards for the people designing and creating them. Toyota makes it a primary goal to hire competent and thorough engineers for all aspects of production, including component manufacturing and research.
• Well-sourced suppliers: External manufacturers supply many vehicle components; strong relationships with them are essential to vehicle reliability.
• Constant innovation: Toyota balances proven technologies with new, innovative ones to meet rising quality standards and consumer expectations.

Toyota Has Built a Strong Reputation Over the Years

Reputation is crucial to any business, especially for a car manufacturer. One of the reasons why Toyotas have a higher resale value today is that the company always prioritized quality in the past. This has resulted in a reputation for producing highly reliable vehicles that will last a long time. The sight of well-maintained and smoothly running old Toyotas has strengthened the brand’s image as a dependable automaker whose products can be relied on for many years.

Toyota Owners Are the Best Brand Representatives

The most relevant people to confirm Toyota’s excellent reliability and longevity are the ones who drive its vehicles. Another significant component of Toyota’s high resale value is the excellent feedback provided by current and past owners. While analyzing specs and professional reviews is an important step when in the market for a new car, feedback from people who have driven it for years is probably the most reliable source of information.

Feedback from previous and current Toyota owners is overwhelmingly positive, with the brand routinely topping consumer satisfaction charts. Toyota owners not only praise their cars’ performance and reliability but also secondary aspects, such as customer service. All these factors make them the most effective brand ambassadors and play a key role in Toyota’s high resale value.

Toyota Cars Are Very Safe

While most modern cars meet high safety standards, this is another category where Toyota isn’t satisfied with simply meeting existing standards. They’ve gone above and beyond, achieving top active and passive safety ratings. Some key aspects of Toyota’s commitment to safety are:

• Its advanced air bag system: Air bags are essential when a collision occurs. Toyotas have more air bags than most other vehicles, which enhances passenger safety.
• The Toyota Safety Sense suite: Toyota Safety Sense is standard for most Toyota models and includes essential advanced driver aids that help you notice potential road situations in due time. It consists of a pre-collision system that detects any objects and pedestrians in front of the vehicle, a lane departure warning system that also employs gentle corrective steering to keep the vehicle centered if it starts drifting off, a dynamic cruise control system that maintains a safe distance to the vehicle in front, and more.
• The Toyota Star Safety System: This suite helps you stay safe by enhancing your car’s maneuverability. It includes systems to help it maintain traction and stability on slippery surfaces and minimize braking distance.
• Toyota’s Safety Connect system: Toyota also comes to its customers’ help if an unfortunate road incident occurs. This subscription-based system detects collisions and automatically requests emergency assistance, reducing response times and giving you the peace of mind that comes with knowing that help is on the way if needed.

Used Car Prices Are Currently High

The final reason applies to all car manufacturers but is especially valid for Toyotas. Due to inventory issues caused by global supply chain problems, buying a new vehicle takes much longer than it used to, which has inflated the price of all pre-owned vehicles. However, given Toyota’s reputation, the used prices for Toyota models are even higher than for other brands. This is because customers recognize their exceptional quality and understand that, although they may be paying a little more, they will get a quality vehicle they can rely on for many years.

Is Your Next Vehicle a Toyota?

Regardless of whether you’re in the market for a new or pre-owned vehicle, buying a Toyota maximizes your chances of getting a great resale price if you ever decide to sell it. At our Classic Toyota of Tyler dealership, you’ll find an extensive inventory of new and used Toyotas. All of them are in excellent condition and will serve you well for a long time. Contact us with any questions, and visit our website to check out our offers.

black toyota car steering wheel by Christina Telep is licensed with Unsplash License