Toyota Tacoma Resale Value: Do They Hold Their Value? What To Know
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The Toyota Tacoma is a top-performing midsize truck that has been a consistent best-seller for many years. This remarkable vehicle is not only known for its impressive sales figures but also for its bulletproof reliability, which has become synonymous with the Toyota brand. With a legacy built on sturdy engineering and dependable performance, the Tacoma has cemented its status as a top choice among truck enthusiasts and everyday drivers alike.
When you see people talk about the Tacoma, one of the main complaints is about how expensive it is, even with older models. Well, that’s because the Toyota Tacoma resale value is one of the best in the industry. However, please don’t take our word for it because we have the numbers for you.
Today, we discuss the Toyota Tacoma resale value and everything you need to know. Does this midsize truck hold its value? Let’s find out!
Toyota Tacoma Resale Value
The Tacoma truck is amongst the best trucks in terms of resale value. MotorTrend has created a list of the best trucks for resale value, and the Tacoma is their topmost pick. It’s ironic since the Tacoma isn’t the top-rated midsize truck, especially compared to its closest rivals like the Honda Ridgeline and Chevy Colorado.
CarEdge has conducted research that confirms the Tacoma’s excellent resale value. The website states that after five years, a Tacoma usually depreciates by 33% and has a residual value of approximately $28,011. This depreciation rate is noteworthy due to its gradual decline. For example, in the first year, the Tacoma lost $3,513 in value, retaining 91.59% of its original value. In the second year, the depreciation increases to $6,383, and the truck maintains 84.72% of its initial value. This trend continues, and the truck retains 67.05% of its value after five years.
As such, if you’re thinking about buying a used Toyota Tacoma, here’s a tip: going for a model that’s two years old could save you a hefty $6,383 compared to buying it brand new. This is smart because you get a pretty recent model for much less money. Plus, it’ll still have plenty of good years left. If you plan to keep this truck for three years, the cost due to its value going down (depreciation) is about $7,380.
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Used Toyota Tacoma Buyer’s Guide (Powered by CoPilot Price Pulse Tool)
For this section, we examine a used model of the Toyota Tacoma and see how it fares in the used car market. We leveraged our handy Price Pulse Tool to gain key insights into Tacoma’s value retention.
For this example, we examined the 2019 Toyota Tacoma using the Price Pulse tool and learned some vital information for buyers and sellers:
- Exceptional Value Retention: The 2019 Tacoma’s market price has increased by a mere $90, highlighting its ability to retain value over time.
- Minimal Depreciation: Most cars lose value quickly once you drive them off the lot, but not the 2019 Toyota Tacoma. This truck keeps its value well over time, which is great news whether you want to sell or buy one.
- Cost-Effectiveness: The Tacoma keeps fetching reasonable prices when resold, showing that folks keep coming back for more. This is likely tied to Toyota’s track record of rolling out cars you can count on for the long haul. Right now, the 2019 Tacoma’s cost is on the upswing in the pre-owned market, reflecting its status as a sought-after pick, probably thanks to the trust drivers place in Tacoma’s rugged nature.
- Long-term Investment: Based on the data, it can be concluded that the Tacoma is a reliable investment for long-term buyers. The gradual depreciation of its value suggests that its future resale value will be higher, resulting in fewer financial losses for owners. For potential buyers, the 2019 model perfectly balances modern technological features and a reasonable price, making it a wise purchase in the current market.
- Market Positioning and Consideration for Buyers: The 2019 Tacoma is an excellent choice for those needing a reliable vehicle and considering resale value in their purchase decision. Despite its high prices, the Tacoma has a strong market position and is an excellent option for those who want long-term value for their investment.
The 2019 Toyota Tacoma shines among used cars. It’s not just about getting a good deal; this truck is known for sticking around without much fuss and not costing an arm and a leg to keep up. It’s a real gem for anyone looking for a solid truck without the new-car price tag.
TOYOTA TACOMA PROS AND CONS
If you’re looking into buying a new or used Tacoma, you’re likely considering its pros and cons. So for today, we’ll provide the Toyota Tacoma’s pros and cons, so you can weigh your decision and make an informed purchase.
Toyota Tacoma Resale Value VS Competitors
In the midsize truck segment, the Toyota Tacoma is known for having one of the highest resale values. But how does it compare to its stiffest competitors?
- Ford F-250: Although not a direct competitor due to being a full-size truck, the Ford F-250 just edges out the Tacoma in terms of resale value after five years, holding its value slightly better by less than 1%. However, it’s also more expensive, which can affect the total cost of ownership and subsequent value for money.
- Chevrolet Colorado: The Colorado is often praised for its robust powertrain and comfortable ride quality, which appeal to lifestyle users and those needing a work truck. It has been a strong contender in the market and has also won awards for its quality. However, the Tacoma generally tends to hold its value better over time than the Colorado, primarily due to Toyota’s reputation for reliability.
- Honda Ridgeline: The Ridgeline takes a different approach to the pickup truck market with a more SUV-like design. This design choice may affect its resale value negatively when compared to Tacoma’s more traditional truck design. The Ridgeline is sometimes seen as less of a work truck and more of a lifestyle vehicle, which can influence its value retention differently across various markets.
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When you think about how much you can sell a truck for later, many things come into play. Things like what’s hot in the market right now, where you’re selling it, and if the truck has been taken care of all make a difference. But here’s the deal with the Toyota Tacoma – it’s got a solid rep for being reliable, people dig the brand, and it’s tough as nails. This all adds up to the Tacoma being worth more than many other trucks when it’s time to sell it.
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