How Much Should You Pay for the World’s Most Popular SUV?
The economy has been through a rough few months. Consumers are watching their spending. So, many drivers looking for an SUV in 2023 are on the hunt for the best deal possible. Fortunately, Toyota produces an affordable small SUV that just happens to be the most popular SUV in the world. How much should you pay for a new Toyota RAV4? How about a used one?
How much should you pay for a 2023 Toyota RAV4?
The Toyota RAV4 is the world’s most popular SUV. This may seem like hyperbole, but the RAV4 has been the sales champ in the United States for several years. Some rivals come close, but no cigar. So, if you decide on getting the world’s most popular SUV, how much should you be ready to cough up for it?
The 2023 Toyota RAV4 has a starting MSRP of $27,975. So, expect to pay much closer to $30,000 for a base model Toyota RAV4 LE after taxes and additional fees like destination charges. In terms of affordability, the RAV4 is a great option, but it isn’t the most affordable small SUV in its segment. Models like the 2023 Kia Sportage are more affordable.
The Toyota RAV4 is available in a whopping 10 different configurations if you count RAV4 Hybrid models. The internal combustion engine version is available in five grades, starting with the LE. So, some drivers shopping for a RAV4 should expect to pay at least $30K, but what about drivers that don’t want the base model?
Car and Driver calls the RAV4 XLE Premium the best RAV4 grade to get. Some of the factors in the automotive publication’s decision to choose the Toyota RAV4 XLE Premium over other RAV4 configurations are its standard leather-wrapped steering wheel and standard power liftgate. The XLE Premium is the mid-range model. Expect to pay at least $32,275 for the RAV4 XLE Premium before taxes and additional fees.
How much should you pay for a used Toyota RAV4?
If you aren’t in the market for a brand-new SUV, Toyota’s small SUV has above-average longevity. So, consumers can get older model years for affordable prices and keep them for a considerable amount of time. According to Kelley Blue Book, drivers can expect to pay $19,640 for a used 2017 Toyota RAV4 with under 80,000 miles on it. It has a fair purchase price of $18,963.
If you’re looking to pay even less, KBB claims that a 2015 Toyota RAV4 with under 99,000 miles has a fair purchase price of $15,404. Toyota RAV4 models tend to last for at least 200,000 miles when they are properly maintained.
Is the Toyota RAV4 the best SUV on the market?
The Toyota RAV4 may be the best-selling SUV on the market, but is it the best overall? Some competitors outrank the RAV4 in ranking lists compiled by some of the most notable automotive publications. It offers excellent value for the money and is dependable, but there are more exciting options. Many drivers favor the Honda CR-V over the Toyota RAV4 because it has superior driving dynamics.
Small SUVs like the Hyundai Tucson and Mazda CX-5 have recently been disrupting small SUV rankings as well. Toyota could be replaced as the best-selling SUV in the future. Even a popular electric vehicle like the Tesla Model Y could outsell the RAV4 internationally. If Toyota wants the RAV4 to remain on top, it could be time for a major redesign.