1 Hybrid SUV Can Be Worth More Used Than New
Depreciation can cause SUVs to lose thousands of dollars in value in mere months. An SUV’s value retention is something to keep in mind when beginning your search for a new model. Some vehicles actually appreciate over time. In fact, one used hybrid SUV model can be worth more than a new model.
A used Toyota RAV4 Hybrid can be worth more than its new MSRP
Depreciation is consistent among most mainstream vehicles. There are some automotive unicorns that are worth more over time, like the Toyota Tacoma. Another Toyota model falls into the same category, but it’s a hybrid SUV instead of a reliable midsize pickup truck.
ISeeCars.com ranks the Toyota RAV4 Hybrid among the top five used vehicles worth more than their new MSRP. How is that possible? The small hybrid SUV tends to gain value over time in terms of market value. The used models that are being sold for higher prices than a new RAV4 hybrid’s MSRP often have low mileage and take advantage of the limited supply of RAV4 Hybrid models.
So, a used Toyota RAV4 Hybrid with low mileage can (and does) sell for a higher price than a brand-spankin’ new RAV4 Hybrid. The question is, why are drivers paying more than retail for this hybrid SUV?
Why is the Toyota RAV4 Hybrid popular?
The Toyota RAV4 Hybrid’s popularity stems from its lineage. Its gas-powered predecessor is the most popular SUV in the world by a long shot. The hybrid model is popular because it offers the same practicality and affordability. The hybrid version trumps the gas model’s fuel economy, making it even more appealing in the eyes of plenty of drivers.
The 2023 Toyota RAV4 Hybrid starts at $31,225. It uses a 2.5-liter four-cylinder engine and two electric motors to make 219 horsepower and 252 lb-ft of torque. The small hybrid SUV achieves 41 miles per gallon in the city and 38 miles per gallon on the highway.
The RAV4 Hybrid has a 14.5-gallon gas tank. It can travel for over 572 miles on a full tank thanks to its stellar fuel economy. That’s about 122 more miles of driving range than the gas RAV4. It costs around $51.12 to refuel the hybrid SUV based on national average gas prices, according to AAA.com.
Part of the reason that consumers find the hybrid RAV4 model so appealing is its low refueling costs. It can help drivers save big bucks at the pump over a long period of ownership.
Should you get a used Toyota RAV4 Hybrid?
ISeeCars.com claims that the Toyota RAV4 Hybrid’s value increases by an average of $883 above its original manufacturer’s suggested retail price over the course of three years. Since its value goes up over short periods of time, the best used RAV4 Hybrid models to get have at least a few years’ worth of mileage on them.
According to Kelley Blue Book, a 2017 Toyota RAV4 Hybrid with under 80K miles on it has a fair purchase price of $20,128. A 2017 RAV4 Hybrid hybrid with under 80,000 miles should be able to last for an additional 120,000 miles or eight years. If you do decide to get a used RAV4 Hybrid model, getting one that has actually depreciated is the best way to get the most value for the money.