As far as off-roading SUVs go, the Toyota Land Cruiser is up there with some of the most iconic models ever produced. However, this SUV is by no means rare, with millions of units produced since its arrival in the early 1950s. Since most of these Land Cruisers are designed to tackle rough terrains, plenty of these initial units have been destroyed by the elements.
In the U.S. market specifically, top-tier examples carry a significant premium. A new study conducted by NetCredit with data from Hagerty’s valuation tool shows just how much these machines have appreciated. The top model has gone up by 748 percent over the last 15 years.
How much did this Toyota Land Cruiser cost when it was new?
The specific Land Cruiser model we’ll be looking at today is the FJ62 which went on sale for the 1988 model year until 1990. Back in the 1980s, a brand-new version of this SUV would’ve cost you $20,708. Adjusted for inflation, we’re looking at around $46,746 in today’s money.
Given how abundant these off-roaders were, the prices on these naturally experienced the normal depreciation rates you’d expect from any normal vehicle. In the 1980s, there were plenty of body-on-frame off-roaders with ample capabilities. Flash forward to 2021, and these types of SUVs are slightly harder to come by, usually carrying a massive premium.
Factor in the aforementioned corrosion and destruction of many Toyota Land Cruiser examples, and you get a recipe for a thriving collector car market. Since these classic off-roaders have become more of a commodity than a necessity, prices have shot up considerably.
This one appreciated by 748 percent in 15 years
As far as Toyota Land Cruiser models go, the FJ62 is a fairly special one. Under its hood lies a naturally-aspirated 4.0-liter inline six-cylinder engine pushing out 155 hp and 220 lb-ft of torque. That power went to all four wheels via a four-speed automatic transmission.
According to Hagerty via NetCredit, one of these off-roaders would’ve cost you around $6,900 back in 2006. However, as the interest in these models has increased, so has the price. Today, in 2021, you’ll pay around $58,500 for the same SUV. In total, we’re looking at an appreciation rate of 748 percent over the last 15 years or so.
It is worth noting that the Japanese carmaker just discontinued this model line for the U.S. market. As a result, expect prices for classic and even newer models to continue to rise over the next few years.
This isn’t the only Toyota Land Cruiser to shoot up in value
If you thought you could get a better deal on a Toyota Land Cruiser by buying an older model, you’d be wrong. In fact, NetCredit also found that the FJ60 generation produced between 1985 to 1987 has also gone up considerably.
In 2006, you could’ve had one of those examples for $7,700. However, in 2021 buying one will cost you around $62,400. In the end, it seems the best time to buy one of these was exactly 15 years ago.