You Should Forget About Getting a Used Toyota RAV4 Hybrid
We are as tired of writing about it as y’all are of reading about it, but the fact is, used car prices are still jacking up the market. It is an ongoing thorn in the paw of many Americans. Used cars are how many of us survive. Buying new isn’t always an option, but these days, it’s the only option that seems to make any sense. Making matters worse, the more practical a model is, the more it seems the used ones are impossible to buy. Proving that point, you should probably forget about getting a used Toyota RAV4 Hybrid for a while. Shhhh shhhhh. I know.
Are used cars cheaper yet?
The used car market is a mess. It’s true that at the end of 2022, used car prices dropped almost 3% from the previous year. This is good. However, this price drop didn’t really hit the cars anyone wants. The reality is while some used car models did drop, many of the most popular car models actually got more expensive. Enter the used Toyota RAV4 market.
iSeeCars conducted a study showing the used car in each state that saw the biggest price increase. The used car with the highest year-over-year price increase is a tie between the Chevrolet Bolt and the Toyota RAV4 Hybrid. However, it’s not just the practical cars that are going up. The vehicle with the highest price increase across all states is the Porsche 911 in Illinois, with a staggering 37.3% price increase. Still, hybrid and electric cars account for 22 vehicles on the list; nearly half.
How much is a used Toyota RAV4 Hybrid?
As previously mentioned, used Toyota RAV4 Hybrids showed up on the list seven times. In most cases, the average price of a used RAV4 Hybrid increased by over 10%. In Kentucky, the used Toyota increased by 17.4%, which is a price increase of $5,547.
The 2023 Toyota RAV4 Hybrid starts at $31,225. However, used ones are commonly around the same price or higher, depending on the trim. These price increases on used models make it really hard to justify if you can spend a little more for a brand-new car with a fresh warranty.
Should you get a used RAV4 Hybrid?
The Toyota RAV4 is a legendary model with years of service as one of the most reliable, affordable, and practical compact SUVs on the market. However, all of that is predicated on price. If all of a sudden the RAV4 is the same money as a used 4Runner or a used Lexus GX460; then the RAV4 has to be judged a little harder.
When a RAV4 is so sought after that it becomes more expensive and difficult to even find; we have to take a hard look at what is happening. Understand that the reason this is happening is because people love the RAV4, and production still hasn’t caught up with demand. This isn’t an argument against the RAV4 or Toyota. There is just a strangeness that is hard to reckon with.
There is no question that we are living in strange times. Ford Broncos and Jeep Wranglers are all of a sudden a status symbol. People are tripping over themselves to buy electric pickup trucks. Hell, there are two completely different cars on the market today called a Mustang. It’s weird out there. All this weirdness makes car buying confusing, difficult, and even downright irritating. Remember to stay patient, do your research, and be cool.
