The coronavirus (COVID-19) pandemic and semiconductor chip shortages have wreaked havoc on the automotive industry. Car buying is more challenging than ever as supply dwindles and prices soar. Things are so out of whack, in fact, that in many cases, used cars now cost more than their new counterparts. That brings us to Toyota.
One car manufacturer that has seen many of its used car prices soar past the MSRP for new vehicles is Toyota. In fact, five of the top 15 cars whose used prices are currently higher than their new prices are Toyotas, according to Nexstar. Below is a look at these vehicles.
Toyota RAV4 Hybrid
The Toyota ranking highest on Nexstar‘s list is the RAV4 Hybrid, which costs 13.5%, or $5,002, more used than new. It’s easy to see why this small SUV is popular with so many. It comes with a 2.5-liter four-cylinder engine paired with an electric motor. The RAV4 is capable of 219 horsepower and 206 lb-ft of torque and can tow up to 1,700 lb.
Acceleration on the RAV4 Hybrid is also impressive. It can go from 0 to 60 mph in just 5.8 seconds, which compares favorably with other vehicles in its class.
The Toyota Tacoma currently costs 9.7%, or $3,405, more used than new. It’s easy to see why it’s one of the more popular pickups on the market. The Tacoma comes with a 2.7-liter four-cylinder engine with 159 horsepower and 180 lb-ft of torque. (It’s also possible to choose a 3.5-liter V6 engine capable of 278 hp and 265 lb-ft of torque. )
The pickup can reach 60 mph in just 7.7 seconds and can carry a payload of 1,609 lbs, which, while not the highest among competitors, is certainly more than respectable.
Coming in at number 12 on Nexstar’s list is the Toyota Sienna, which costs $4,065, or 8.9%, more used than new. This minivan is known for its fuel efficiency and features a 2.5-liter gasoline-powered four-cylinder engine, along with a pair of electric motors capable of 243 horsepower and 176 lb-ft of torque.
Like the Tacoma, the Sienna can go from 0 to 60 mph in 7.7 seconds. This isn’t quite as fast as some of its competition, but it’s still respectable for a vehicle of its class.
Toyota Corolla Hybrid
Just behind the Sienna on the list is the Toyota Corolla Hybrid, as its used price comes in at $2,138, or 8%, above its new price. The Corolla Hybrid is known more than anything for its fuel efficiency. It gets a combined 52 mpg, which is something any driver would appreciate these days, with the price of gas being what it is.
The Corolla Hybrid is less known for its power. Its engine is capable of 121 horsepower and 105 lb-ft of torque, and it can go from 0 to 60 mph in 10.7 seconds. While that won’t blow anyone away, it’s a small price to pay for the awesome savings on fuel that this car will provide.
Toyota Prius Prime
Rounding out the list at spot number 15 is the Toyota Prius Prime, which costs $2,508, or 7.9%, more when it’s bought used. On the base-level trim, the LE, the Prius Prime comes with a 1.8-L four-cylinder engine capable of 121 horsepower. In terms of fuel efficiency, it can get 54 mpg or 133 MPGe, which puts it almost right on par with the Corolla Hybrid.
If you can snag any of these cars or trucks new, you’re actually likely to save money overall. However, finding one to buy will be the ultimate challenge.