How Much Is A 2018 Toyota Highlander Worth? Here’s How To Find Out

Published May 12, 2022
in Model Info

Toyota is known for making cars with legendary reliability, durability, and excellent value proposition. With that said, the Toyota Highlander is one of its most popular models, and it’s easy to see why. You’re drawn to the Highlander’s functional, family-friendly, consistent reliability, top-notch fuel economy, and high resale value.

Speaking of high resale value, how much is a 2018 Toyota Highlander worth?

If you’re looking to trade in your used 2018 Tacoma, there might be no better time than now. Why is it now the best time to trade in used or leased vehicles? What factors can affect the trade-in value of your used Highlander? Which tools can you use to estimate your vehicle’s trade-in value? We’ll answer these questions and more.

Is This the Right Time to Trade In Your 2018 Toyota Highlander?

Whether you’re updated with automotive prices or recently shopped around on your own, you likely know that car prices have skyrocketed. As you may know, the COVID-19 pandemic, supply chain shortage, and Russia’s invasion of Ukraine have all contributed to inflation, including car prices.

The U.S. Bureau of Labor Statistics released a Consumer Price Index Summary indicating that consumers who bought new vehicles in January 2022 paid 12.2% more than last year. The market for used cars is even worse because prices for used vehicles increased by 40.5% over the previous year.

In addition, according to a study by car-shopping website Edmunds.com, a staggering 82.2% of new vehicle purchases by January were paid above MSRP. In comparison, only 2.8% in January 2021 and 0.3% in January 2020 of new car purchases were paid above the sticker price. Experts advised that the pragmatic approach is to hold off on buying new cars, but as you can see, the used car market isn’t any better.

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Are Things Going to Get Better?

According to Kelley Blue Book, new car prices will eventually come down as supply and production improve. However, despite the improvement on the supply side, inventory will remain tight, as per KBB’s article. The more likely scenario is that prices will slowly come down throughout the year’s first half.

In another news article by ABC, used car prices are also slowing down after historic highs. Even though that’s the case, smaller cars and hybrids are seeing price hikes due to the record-high gas prices we’ve just experienced. For example, a used Toyota Prius or Hyundai Sonata saw a price hike of up to 40%.

Is It Time to Trade In Your 2018 Toyota Highlander?

Some of our readers ask, how much is a 2018 Toyota Highlander worth? While it doesn’t quite make sense to buy a new or used car right now, used vehicle sellers can potentially profit from this trend. If you’re looking to trade in your 2018 Highlander, the same forces that work against you as a buyer will instead help you earn top dollar.

In 2022, used car prices have never been this high, so it’s a great time to sell or trade in your used Highlander now. If you’re on a lease, you may sell your used Toyota Highlander and potentially pay off the contract and have some cash on the side with the current market. This is even better if you can afford to sell your vehicle without needing a replacement.

For selling a used 2018 Toyota Highlander, you can get more dollars with a private transaction. However, even selling to dealerships is viable with the current market state. Dealers are hurting to sell more cars, so there may be some room for negotiation.

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Factors That Affect Your 2018 Toyota Highlander’s Trade-In Value

Before calculating how much is a 2018 Toyota Highlander worth, you should know about the factors that dealerships will more than likely use to determine its value.

Age of the vehicle – Most vehicles depreciate at the rate of 20% within a year and around 60% in five years. The vehicle’s value will continue to decrease after the five-year threshold unless you have a model that holds its value well.
Mileage – If you have over 100,000 miles on your 2018 Toyota Highlander, its value has dropped significantly, that’s for sure. Even if your high mileage vehicle has yet to undergo significant repairs, the dealership knows it’s just right around the corner.
Add-ons and options – When you purchased your new Highlander, you may have added several extra equipment and features that increased its cost. These include leather seats, heated seats, sunroofs, advanced safety features, etc.
Interior and exterior condition – If your vehicle has several scratches and dings or dirty or damaged upholstery, expect the trade-in value to drop severely.
Market value – Some things are just out of your control when trading in your car. One of the primary factors that influence market value is supply and demand. A dealership with dozens of Highlanders on the lot will be less inclined to pay top dollar for another one.

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Estimating Your 2018 Toyota Highlander’s Trade-In Value

How much is a 2018 Toyota Highlander worth? There are numerous ways to have a decent ballpark estimate of your 2018 Highlander trade-in value.

One popular tool that you can use is Edmunds.com Appraisal Tool. The tool provides many different options and specs to create a vehicle profile that’s exactly like yours and receive an accurate estimate. According to Edmunds, the average value for a used 2018 Toyota Highlander is $23,374 - $40,566. Feel free to use the tool to get a more accurate estimate.

Another tool worth using is Kelley Blue Book’s My Car’s Value Tool. Using the tool, we found that a used 2018 Highlander with the base trim, no extra equipment, and 50,000 miles is about $26,827 for a dealership trade-in.

Lastly, you can’t go wrong with CoPilot’s Hidden Profit Calculator tool. It’s a unique trade-in value calculator tool that lets you see if you can make a profit from your used Highlander. The Hidden Profit Calculator tool provides a Real-time Market Value Breakdown within your location. It lets you unlock the bids of potential customers who may be looking for a used 2018 Highlander. Sign up for a CoPilot account to unlock the bids.

Get a Curated List of the Best Used Cars Near You

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The best part? CoPilot is built using the same technology that dealerships use to buy and sell their inventories, so we have more info on each vehicle than competitors. CoPilot doesn’t work with dealerships, so there are no sponsored posts or other shady practices — just the most info on the best cars. Check out our About Us page to see how CoPilot works.